56
$775,000
#3 – 6304 Lane Road
Duncan · Residential
5 bd
3 ba
3,108 sqft
$249/sqft
Built 1930
MLS® 1044809
Royal LePage Duncan Realty
Pre-approval · Duncan
What does a mortgage pre-approval in Duncan actually ask for?
The median asking price in Duncan is $827,000. At that price the minimum down payment is $57,700, and a lender would test the balance at the federal qualifying rate rather than the rate you would pay. Here is what that works out to, and what a lender checks before any of it applies.
Median asking price
$827,000
Minimum down payment
$57,700
Qualifying payment
$5,148/mo
Estimated range · question 1 of 3
What is your gross household income?
Choose a range to start. Two more answers shape the estimate before any lender or credit check.
No credit check · About 1 minute See what you could qualify for
What the numbers ask of a Duncan buyer
A $827,000 asking price puts the minimum down payment at $57,700 under the federal rules, and twenty percent at $165,400. Financing the remaining $769,300 and testing it at the qualifying rate of 6.49%, which is higher than the illustrative contract rate of 4.49%, produces a payment of $5,148 a month over 25 years. On a thirty-nine percent gross debt service ratio, that payment implies a household income near $158,400. The census median household income in Duncan is $53,200, which is about $105,200 short of the figure the payment implies.
A price at or below $1,500,000 can carry mortgage default insurance, which is what makes the $57,700 minimum possible. The premium is added to the mortgage.
Whether your own numbers clear that bar is a lender’s call, and it is a short conversation when your file is ready. See your estimated mortgage range and walk in with it assembled.
Minimum down payment on a Duncan home
| Median asking price | $827,000 |
| Minimum down payment | $57,700 |
| Twenty percent down | $165,400 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $5,148 per month |
The minimum is five percent of the first $500,000, ten percent of any portion between $500,000 and $1,500,000, and twenty percent on anything above $1,500,000. The qualifying payment is arithmetic at an illustrative rate, not a quote.
What a lender is testing before any of this applies
- Income you can document. Pay stubs, a letter of employment, and two years of Notices of Assessment. Self-employed files need two years of T1 Generals.
- Debt you already carry. Balances, minimum payments, and limits, including the limit on a card you never use.
- A down payment with ninety days of history. Any large deposit inside that window needs a paper trail, and a gift needs a signed letter.
- Credit. A hard check, read alongside how long your history runs.
The full document list is on how to get pre-approved for a mortgage in BC.
Homes on the market in Duncan
These are the active listings the figures above describe. Asking prices move, and the payment moves with them.
Active listings in Duncan
37
$760,000
122 Village Way
Duncan · Residential
4 bd
3 ba
2,430 sqft
$313/sqft
Built 2017
MLS® 1032990
Sutton Group-West Coast Realty (Dunc)
10
$699,900
#139 – 3257 Woodrush Drive
Duncan · Residential
3 bd
3 ba
1,923 sqft
$364/sqft
Built 2025
MLS® 1036813
RE/MAX Island Properties (DU)
14
$639,900
#116 – 3257 Woodrush Drive
Duncan · Residential
3 bd
3 ba
1,764 sqft
$363/sqft
Built 2025
MLS® 1025103
RE/MAX Island Properties (DU)
10
$669,900
#137 – 3257 Woodrush Drive
Duncan · Residential
3 bd
3 ba
1,887 sqft
$355/sqft
Built 2025
MLS® 1036810
RE/MAX Island Properties (DU)
10
$649,900
#123 – 3257 Woodrush Drive
Duncan · Residential
3 bd
3 ba
1,922 sqft
$338/sqft
Built 2025
MLS® 1036722
RE/MAX Island Properties (DU)
10
$649,900
#125 – 3257 Woodrush Drive
Duncan · Residential
3 bd
3 ba
1,922 sqft
$338/sqft
Built 2025
MLS® 1036728
RE/MAX Island Properties (DU)
28
$599,000
#100 – 3003 Keystone Drive
Duncan · Residential
3 bd
3 ba
1,435 sqft
$417/sqft
Built 2026
MLS® 1045210
RE/MAX Island Properties (DU)
61
$975,000
6535 Wicks Road
Duncan · Residential
4 bd
3 ba
2,115 sqft
$461/sqft
Built 1991
MLS® 1043022
Sutton Group-West Coast Realty (Dunc)
28
$984,900
6262 Old Mill Road
Duncan · Residential
6 bd
4 ba
2,522 sqft
$391/sqft
Built 2026
MLS® 1039806
Royal LePage Nanaimo Realty (NanIsHwyN)
Open House on Sat, 12pm–2pm
37
$799,000
#115 – 3116 Woodrush Drive
Duncan · Residential
3 bd
3 ba
1,840 sqft
$434/sqft
Built 2025
MLS® 1046443
Sotheby's International Realty Canada (Vic2)
45
$799,000
3030 Dogwood Road
Duncan · Residential
3 bd
3 ba
3,229 sqft
$247/sqft
Built 1960
MLS® 1044577
RE/MAX Generation (CH)
See all Duncan listings (266 active listings)
Pre-approval in cities near Duncan
Mortgage pre-approval in Surrey
$1,048,900 median asking price
Mortgage pre-approval in Vancouver
$1,398,000 median asking price
Mortgage pre-approval in Richmond
$1,020,000 median asking price
Mortgage pre-approval in Burnaby
$889,950 median asking price
Mortgage pre-approval in Kelowna
$799,000 median asking price
Mortgage pre-approval in Langley
$949,900 median asking price
Mortgage pre-approval in Abbotsford
$824,900 median asking price
Mortgage pre-approval in Coquitlam
$950,000 median asking price
Pre-approval questions in Duncan
What income does a lender test a median-priced Duncan purchase against?
A $827,000 purchase with $57,700 down leaves $769,300 to finance. At the qualifying rate of 6.49% over 25 years the payment is $5,148 a month, which on a thirty-nine percent gross debt service ratio implies a household income near $158,400. The census median household income in Duncan is $53,200. Your own number will differ with your debts, your down payment, and your property taxes.
How much do I need for a down payment in Duncan?
At the $827,000 median asking price, the federal minimum is $57,700, and twenty percent is $165,400. A price at or below $1,500,000 can carry mortgage default insurance, which is what makes the $57,700 minimum possible. The premium is added to the mortgage. Closing costs sit on top of the down payment.
Does a pre-approval mean the mortgage is approved?
No. A pre-approval is a lender’s conditional statement about you. Final approval also depends on the specific property, which the lender appraises and, for a condo, reviews the strata documents on.
Can I get pre-approved before I choose a city?
Yes, and it is the usual order. A pre-approval is based on your income, debts, and credit rather than on a particular home, so the amount travels with you across BC. The down payment minimum changes with the price, not with the city.
Duncan homes for saleNarrow Duncan homes by featureDuncan market reportNew listings in DuncanDuncan price dropsHome affordability in BCMortgage stress test
Listing data provided by the Greater Vancouver REALTORS® and partner boards under MLS® Reciprocity. Deemed reliable but not guaranteed accurate. MLS® and REALTOR® are trademarks of CREA. Asking prices come from the live MLS® feed through board reciprocity. Household income is the Statistics Canada census median for the city. Payment figures use an illustrative rate over a 25-year amortization and the federal qualifying rate. They are arithmetic, not a quote, and not an offer of credit. Ray Rasouli is a licensed REALTOR® with Real Broker B.C. Ltd. and is not a mortgage broker or a lender. Nothing on this page is financial advice, a rate quote, or an offer of credit.