74
$1,089,000
$447/sqft
5 bd · 4 ba · 2,435 sqft
#271, 2450 Radio Tower Road
Oliver · Single Family
Listed by RE/MAX Realty SolutionsMLS® 10389060
Pre-approval · Oliver
What does a mortgage pre-approval in Oliver ask for?
At the $735,000 median asking price, you need $48,500 down. A lender tests a payment of $4,594 a month.
- Minimum down
- $48,500
- Monthly payment a lender tests
- $4,594
- Implied household income
- $141,354
Affordability estimate · 1 of 3
What is your household income before tax?
- Minimum down
- $48,500
- Monthly payment a lender tests
- $4,594
- Implied household income
- $141,354
What a Oliver buyer needs
At $735,000, the minimum down payment is $48,500 and twenty percent is $147,000. Lenders test the payment at the qualifying rate of 6.49%, not the illustrative 4.49%. That is $4,594 a month over 25 years, which needs a household income near $141,354. The Oliver census median is $68,500, about $72,854 short of the figure the payment implies.
Homes up to $1,500,000 can carry mortgage default insurance, which allows the $48,500 minimum.
Minimum down payment on a Oliver home
| Figure | Amount |
|---|---|
| Median asking price | $735,000 |
| Minimum down payment | $48,500 |
| Twenty percent down | $147,000 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $4,594 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 Oliver
Active listings in Oliver
185 active listings
48
$284,900
$286/sqft
2 bd · 1 ba · 995 sqft
#10, 529 Co-Op Avenue
Oliver · Single Family
Listed by Royal LePage South CountryMLS® 10403077
26
$199,000
$306/sqft
1 bd · 1 ba · 650 sqft
#17, 2501 Radio Tower Road
Oliver · Single Family
Listed by Chamberlain Property GroupMLS® 10402963
58
$189,000
$283/sqft
1 bd · 1 ba · 667 sqft
#325, 650 MCKINNEY Road
Oliver · Single Family
Listed by Century 21 Amos RealtyMLS® 10402955
65
$269,900
$234/sqft
2 bd · 1 ba · 1,152 sqft
#67, 8487 Highway 97 Highway
Oliver · Single Family
Listed by Royal LePage South CountryMLS® 10402864
21
$460,000
$436/sqft
3 bd · 2 ba · 1,056 sqft
5952 Okanagan Street
Oliver · Single Family
Listed by Royal LePage South CountryMLS® 10400078
24
$630,000
$458/sqft
2 bd · 2 ba · 1,377 sqft
#40, 6526 TUCELNUIT Drive
Oliver · Single Family
Listed by Royal LePage South CountryMLS® 10402478
46
$979,000
$410/sqft
4 bd · 4 ba · 2,390 sqft
#252, 2450 Radio Tower Road
Oliver · Single Family
Listed by Real Broker B.C. LtdMLS® 10399201
49
$194,500
$149/sqft
2 bd · 2 ba · 1,305 sqft
#34, 6778 TUCELNUIT Drive
Oliver · Single Family
Listed by RE/MAX Wine Capital RealtyMLS® 10397213
14
$650,000
FAIRVIEW WHITE LAKE Road
Oliver · Vacant Land
Listed by RE/MAX Wine Capital RealtyMLS® 10397127
46
$699,999
$535/sqft
1 bd · 2 ba · 1,309 sqft
#34, 6833 Meadows Drive
Oliver · Single Family
Listed by Royal LePage South CountryMLS® 10396196
15
$339,900
$288/sqft
2 bd · 1 ba · 1,181 sqft
7561 Highway 97 Other
Oliver · Single Family
Listed by Laboutique Realty (Kelowna)MLS® 10396173
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 Oliver
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 Oliver
At the $735,000 median, the minimum is $48,500 and twenty percent is $147,000. Homes up to $1,500,000 can carry mortgage default insurance, which allows the $48,500 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.