New
19
$639,000
#104 – 3625 Windcrest Drive
North Vancouver · Residential
2 bd
2 ba
838 sqft
$763/sqft
Built 1997
MLS® R3158012
Royal Pacific Lions Gate Realty Ltd.
Pre-approval · North Vancouver
What does a mortgage pre-approval in North Vancouver actually ask for?
The median asking price in North Vancouver is $1,299,850. At that price the minimum down payment is $104,985, 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
$1,299,850
Minimum down payment
$104,985
Qualifying payment
$7,996/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 North Vancouver buyer
A $1,299,850 asking price puts the minimum down payment at $104,985 under the federal rules, and twenty percent at $259,970. Financing the remaining $1,194,865 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 $7,996 a month over 25 years. On a thirty-nine percent gross debt service ratio, that payment implies a household income near $246,031. The census median household income in North Vancouver is $123,000, which is about $123,031 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 $104,985 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 North Vancouver home
| Median asking price | $1,299,850 |
| Minimum down payment | $104,985 |
| Twenty percent down | $259,970 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $7,996 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 North Vancouver
These are the active listings the figures above describe. Asking prices move, and the payment moves with them.
Active listings in North Vancouver
28
$678,000
#514 – 111 3rd Street
North Vancouver · Residential
1 bd
1 ba
665 sqft
$1,020/sqft
Built 2013
MLS® R3149409
Royal LePage Sussex
31
$1,195,000
#403 – 615 3rd Street
North Vancouver · Residential
2 bd
2 ba
1,132 sqft
$1,056/sqft
Built 2019
MLS® R3147940
Royal LePage Sussex
Newly Listed
35
$618,500
#210 – 1677 Lloyd Avenue
North Vancouver · Residential
1 bd
1 ba
689 sqft
$898/sqft
Built 2011
MLS® R3157266
Team 3000 Realty Ltd.
Newly Listed
40
$1,238,000
#704 – 125 14th Street
North Vancouver · Residential
3 bd
2 ba
1,077 sqft
$1,149/sqft
Built 2017
MLS® R3156851
Angell, Hasman & Associates Realty Ltd.
Open House on Sat, 2pm–4pm
39
$2,100,000
5600 Grousewoods Place
North Vancouver · Residential
4 bd
4 ba
4,130 sqft
$508/sqft
Built 1981
MLS® R3153339
RE/MAX Masters Realty
Newly Listed
Open House on Sun, 2:15pm–4:15pm
40
$2,649,800
213 28th Street
North Vancouver · Residential
6 bd
6 ba
2,892 sqft
$916/sqft
Built 2004
MLS® R3157605
RE/MAX Masters Realty
31
$1,450,000
562 Keith Road
North Vancouver · Residential
3 bd
3 ba
1,680 sqft
$863/sqft
Built 2005
MLS® R3127765
eXp Realty
26
$1,249,000
#514 – 560 Raven Woods Drive
North Vancouver · Residential
3 bd
2 ba
1,356 sqft
$921/sqft
Built 2005
MLS® R3105419
Stilhavn Real Estate Services
36
$2,199,900
3114 WOODBINE Drive
North Vancouver · Residential
3 bd
3 ba
1,936 sqft
$1,136/sqft
Built 2026
MLS® R3151361
Oakwyn Realty Ltd.
32
$1,999,900
3218 HIGHLAND Boulevard
North Vancouver · Residential
3 bd
3 ba
1,656 sqft
$1,208/sqft
Built 2026
MLS® R3123333
Oakwyn Realty Ltd.
40
$890,000
#29 – 533 3RD Street
North Vancouver · Residential
2 bd
2 ba
842 sqft
$1,057/sqft
Built 2019
MLS® R3130148
The Partners Real Estate
See all North Vancouver listings (998 active listings)
Pre-approval in cities near North Vancouver
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 North Vancouver
What income does a lender test a median-priced North Vancouver purchase against?
A $1,299,850 purchase with $104,985 down leaves $1,194,865 to finance. At the qualifying rate of 6.49% over 25 years the payment is $7,996 a month, which on a thirty-nine percent gross debt service ratio implies a household income near $246,031. The census median household income in North Vancouver is $123,000. 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 North Vancouver?
At the $1,299,850 median asking price, the federal minimum is $104,985, and twenty percent is $259,970. A price at or below $1,500,000 can carry mortgage default insurance, which is what makes the $104,985 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.
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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.