46
$769,000
813 Regent Crescent
Kamloops · Residential
3 bd
3 ba
2,020 sqft
$381/sqft
Built 1995
MLS® 10398569
Stonehaus Realty Corp
Pre-approval · Kamloops
What does a mortgage pre-approval in Kamloops actually ask for?
The median asking price in Kamloops is $605,000. At that price the minimum down payment is $35,500, 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
$605,000
Minimum down payment
$35,500
Qualifying payment
$3,811/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 Kamloops buyer
A $605,000 asking price puts the minimum down payment at $35,500 under the federal rules, and twenty percent at $121,000. Financing the remaining $569,500 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 $3,811 a month over 25 years. On a thirty-nine percent gross debt service ratio, that payment implies a household income near $117,262. The census median household income in Kamloops is $88,000, which is about $29,262 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 $35,500 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 Kamloops home
| Median asking price | $605,000 |
| Minimum down payment | $35,500 |
| Twenty percent down | $121,000 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $3,811 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 Kamloops
These are the active listings the figures above describe. Asking prices move, and the payment moves with them.
Active listings in Kamloops
80
$499,900
632 Battle Street
Kamloops · Residential
3 bd
1 ba
943 sqft
$530/sqft
Built 1912
MLS® 10398274
REMAX Kamloops
22
$354,900
#75 – 1605 Summit Drive
Kamloops · Residential
2 bd
2 ba
1,296 sqft
$274/sqft
Built 1975
MLS® 10388761
Royal LePage Westwin Realty
22
$299,900
#214 – 860 NICOLANI Drive
Kamloops · Residential
2 bd
2 ba
930 sqft
$322/sqft
Built 1996
MLS® 10390783
Royal LePage Westwin Realty
27
$644,900
#134 – 3580 Valleyview Drive
Kamloops · Residential
3 bd
3 ba
1,680 sqft
$384/sqft
Built 2026
MLS® 10394594
REMAX Kamloops
42
$1,130,000
2545 YOUNG Avenue
Kamloops · Residential
5 bd
3 ba
2,016 sqft
$561/sqft
Built 1960
MLS® 10398653
Century 21 Assurance Realty Ltd
51
$1,449,900
7035 Blackwell Road
Kamloops · Residential
5 bd
3 ba
4,717 sqft
$307/sqft
Built 1998
MLS® 10395592
Stonehaus Realty Corp
26
$849,900
1887 Grouse Court
Kamloops · Residential
5 bd
3 ba
1,420 sqft
$599/sqft
Built 2007
MLS® 10397619
Brendan Shaw Real Estate Ltd.
53
$299,900
#300 – 760 MAYFAIR Street
Kamloops · Residential
1 bd
1 ba
598 sqft
$502/sqft
Built 2011
MLS® 10397866
Century 21 Assurance Realty Ltd
44
$539,900
#15 – 791 JENSEN Road
Kamloops · Residential
3 bd
2 ba
1,170 sqft
$461/sqft
Built 2006
MLS® 10397848
Century 21 Assurance Realty Ltd
99
$1,899,900
1798 GALORE Place
Kamloops · Residential
5 bd
6 ba
4,786 sqft
$397/sqft
Built 2013
MLS® 10397767
Century 21 Assurance Realty Ltd
16
$279,900
5888 DALLAS Drive
Kamloops · Land
MLS® 10398616
Century 21 Assurance Realty Ltd
See all Kamloops listings (1,095 active listings)
Pre-approval in cities near Kamloops
Mortgage pre-approval in Surrey
$1,048,000 median asking price
Mortgage pre-approval in Vancouver
$1,398,000 median asking price
Mortgage pre-approval in Richmond
$1,019,000 median asking price
Mortgage pre-approval in Burnaby
$890,000 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
$952,450 median asking price
Pre-approval questions in Kamloops
What income does a lender test a median-priced Kamloops purchase against?
A $605,000 purchase with $35,500 down leaves $569,500 to finance. At the qualifying rate of 6.49% over 25 years the payment is $3,811 a month, which on a thirty-nine percent gross debt service ratio implies a household income near $117,262. The census median household income in Kamloops is $88,000. 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 Kamloops?
At the $605,000 median asking price, the federal minimum is $35,500, and twenty percent is $121,000. A price at or below $1,500,000 can carry mortgage default insurance, which is what makes the $35,500 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.
Kamloops homes for saleNarrow Kamloops homes by featureKamloops market reportNew listings in KamloopsKamloops 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.