36
$1,649,000
$583/sqft
5 bd · 3 ba · 2,829 sqft
496 Spyglass Place
Gibsons · Single Family Residence
Listed by RE/MAX City RealtyMLS® R3173265
Pre-approval · Gibsons
What does a mortgage pre-approval in Gibsons ask for?
At the $968,500 median asking price, you need $71,850 down. A lender tests a payment of $6,001 a month.
- Minimum down
- $71,850
- Monthly payment a lender tests
- $6,001
- Implied household income
- $184,646
Affordability estimate · 1 of 3
What is your household income before tax?
- Minimum down
- $71,850
- Monthly payment a lender tests
- $6,001
- Implied household income
- $184,646
What a Gibsons buyer needs
At $968,500, the minimum down payment is $71,850 and twenty percent is $193,700. Lenders test the payment at the qualifying rate of 6.49%, not the illustrative 4.49%. That is $6,001 a month over 25 years, which needs a household income near $184,646. The Gibsons census median is $70,000, about $114,646 short of the figure the payment implies.
Homes up to $1,500,000 can carry mortgage default insurance, which allows the $71,850 minimum.
Minimum down payment on a Gibsons home
| Figure | Amount |
|---|---|
| Median asking price | $968,500 |
| Minimum down payment | $71,850 |
| Twenty percent down | $193,700 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $6,001 per month |
The qualifying payment uses an illustrative rate, not a quote.
What a lender checks first
- 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 Gibsons
Active listings in Gibsons
190 active listings
40
$1,138,000
$629/sqft
3 bd · 3 ba · 1,810 sqft
841 O'shea Road
Gibsons · Single Family Residence
Listed by RE/MAX City RealtyMLS® R3169452
29
$639,000
$543/sqft
2 bd · 1 ba · 1,177 sqft
#15, 699 Dougall Road
Gibsons · Apartment/Condo
Listed by Sutton Group-West Coast RealtyMLS® R3174146
40
$1,549,000
$783/sqft
3 bd · 3 ba · 1,978 sqft
679 Corlett Road
Gibsons · Single Family Residence
Listed by RE/MAX City RealtyMLS® R3174172
40
$1,495,000
$777/sqft
4 bd · 2 ba · 1,923 sqft
420 Solaz Place
Gibsons · Single Family Residence
Listed by RE/MAX City RealtyMLS® R3173529
40
$829,900
$406/sqft
3 bd · 2 ba · 2,044 sqft
1048 Woodsworth Road
Gibsons · Single Family Residence
Listed by RE/MAX City RealtyMLS® R3156400
40
$1,949,000
$847/sqft
3 bd · 3 ba · 2,301 sqft
421 Laurel Street
Gibsons · Single Family Residence
Listed by RE/MAX Oceanview RealtyMLS® R3167598
40
$1,477,000
$438/sqft
4 bd · 4 ba · 3,375 sqft
397 Vernon Place
Gibsons · Single Family Residence
Listed by RE/MAX Oceanview RealtyMLS® R3116630
26
$699,000
$679/sqft
2 bd · 2 ba · 1,030 sqft
1070 Celia Crescent
Gibsons · Half Duplex
Listed by RE/MAX City RealtyMLS® R3172339
25
$29,900,000
692 Gower Point Road
Gibsons · Land
Listed by RE/MAX Crest RealtyMLS® R3172932
40
$1,649,900
$574/sqft
3 bd · 3 ba · 2,875 sqft
531 Fletcher Road
Gibsons · Single Family Residence
Listed by Sutton Group-West Coast RealtyMLS® R3173402
38
$1,299,000
$423/sqft
4 bd · 4 ba · 3,070 sqft
1203 Castle Road
Gibsons · Single Family Residence
Listed by Sutton Group-West Coast RealtyMLS® R3173732
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. MLS®, Multiple Listing Service®, and REALTOR® are trademarks of the Canadian Real Estate Association (CREA).
Pre-approval in cities near Gibsons
Mortgage pre-approval in Surrey
$999,999 median asking price
Mortgage pre-approval in Vancouver
$1,379,500 median asking price
Mortgage pre-approval in Burnaby
$859,950 median asking price
Mortgage pre-approval in Richmond
$1,004,800 median asking price
Mortgage pre-approval in Kelowna
$789,450 median asking price
Mortgage pre-approval in Langley
$959,900 median asking price
Mortgage pre-approval in Abbotsford
$799,900 median asking price
Mortgage pre-approval in Coquitlam
$956,450 median asking price
Pre-approval questions in Gibsons
At the $968,500 median, the minimum is $71,850 and twenty percent is $193,700. Homes up to $1,500,000 can carry mortgage default insurance, which allows the $71,850 minimum.
No. Final approval also depends on the property.
Yes. It is based on you, not a home, so it works anywhere in BC.
Related pages
Prepared by
Written and maintained by Ray Rasouli, REALTOR®, licensed in British Columbia and founder of Relta Real Estate.
Data
Source: MLS® listing data from BC real estate boards (MLS® Reciprocity) and CREA's DDF®.
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. MLS®, Multiple Listing Service®, and REALTOR® are trademarks of the Canadian Real Estate Association (CREA).
CorrectionsReport a correction
Payments use an illustrative rate over 25 years and the federal qualifying rate. Not a quote or an offer of credit. Ray Rasouli is a licensed REALTOR® and is not a mortgage broker or a lender. Nothing on this page is financial advice, a rate quote, or an offer of credit.