41
$599,900
$551/sqft
3 bd · 2 ba · 1,089 sqft
#311, 120 Jensen Avenue
Parksville · Single Family
Listed by RE/MAX Anchor Realty (QU)MLS® 1049195
Pre-approval · Parksville
What does a mortgage pre-approval in Parksville ask for?
At the $759,000 median asking price, you need $50,900 down. A lender tests a payment of $4,739 a month.
- Minimum down
- $50,900
- Monthly payment a lender tests
- $4,739
- Implied household income
- $145,815
Affordability estimate · 1 of 3
What is your household income before tax?
- Minimum down
- $50,900
- Monthly payment a lender tests
- $4,739
- Implied household income
- $145,815
What a Parksville buyer needs
At $759,000, the minimum down payment is $50,900 and twenty percent is $151,800. Lenders test the payment at the qualifying rate of 6.49%, not the illustrative 4.49%. That is $4,739 a month over 25 years, which needs a household income near $145,815. The Parksville census median is $66,500, about $79,315 short of the figure the payment implies.
Homes up to $1,500,000 can carry mortgage default insurance, which allows the $50,900 minimum.
Minimum down payment on a Parksville home
| Figure | Amount |
|---|---|
| Median asking price | $759,000 |
| Minimum down payment | $50,900 |
| Twenty percent down | $151,800 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $4,739 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 Parksville
Active listings in Parksville
176 active listings
35
$1,197,000
$656/sqft
3 bd · 2 ba · 1,825 sqft
246 Lodgepole Drive
Parksville · Single Family
Listed by Easy List RealtyMLS® 1051808
46
$629,000
$621/sqft
2 bd · 1 ba · 1,013 sqft
#228, 330 Dogwood Street
Parksville · Single Family
Listed by Royal LePage Island Living (PK)MLS® 1052050
35
$349,000
$332/sqft
1 bd · 2 ba · 1,050 sqft
#26, 150 Corfield Street
Parksville · Single Family
Listed by Royal LePage Island Living (PK)MLS® 1042583
37
$549,995
$465/sqft
1 bd · 2 ba · 1,184 sqft
#107, 399 Wembley Road
Parksville · Single Family
Listed by RE/MAX Anchor Realty (QU)MLS® 1051887
30
$775,000
$476/sqft
4 bd · 3 ba · 1,628 sqft
107 Moss Avenue
Parksville · Single Family
Listed by Royal LePage Island Living (PK)MLS® 1051563
23
$774,900
$566/sqft
3 bd · 2 ba · 1,370 sqft
586 Hampstead Street
Parksville · Single Family
Listed by RE/MAX Generation (CH)MLS® 1049520
36
$849,900
$594/sqft
3 bd · 3 ba · 1,430 sqft
#38, 1059 Tanglewood Place
Parksville · Single Family
Listed by eXp Realty (NA)MLS® 1048195
11
$487,900
$510/sqft
2 bd · 1 ba · 957 sqft
#4, 305 Blower Road
Parksville · Single Family
Listed by Coldwell Banker Oceanside Real EstateMLS® 1047762
28
$739,000
$500/sqft
2 bd · 2 ba · 1,479 sqft
#5, 161 Shelly Road
Parksville · Single Family
Listed by Royal LePage Island Living (PK)MLS® 1047348
35
$650,000
$507/sqft
3 bd · 2 ba · 1,282 sqft
43 Gerald Place
Parksville · Single Family
Listed by RE/MAX First Realty (PK)MLS® 1045031
51
$839,000
$507/sqft
3 bd · 2 ba · 1,654 sqft
820 Drew Road
Parksville · Single Family
Listed by Royal LePage Island Living (PK)MLS® 1045149
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 Parksville
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 Parksville
At the $759,000 median, the minimum is $50,900 and twenty percent is $151,800. Homes up to $1,500,000 can carry mortgage default insurance, which allows the $50,900 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.