37
$1,199,900
2270 Irvine Avenue
Port Coquitlam · Residential
6 bd
4 ba
2,292 sqft
$524/sqft
Built 1980
MLS® R3145891
Royal LePage Elite West
Pre-approval · Port Coquitlam
What does a mortgage pre-approval in Port Coquitlam actually ask for?
The median asking price in Port Coquitlam is $1,012,500. At that price the minimum down payment is $76,250, 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
$1,012,500
Minimum down payment
$76,250
Qualifying payment
$6,266/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 Port Coquitlam buyer
A $1,012,500 asking price puts the minimum down payment at $76,250 under the federal rules, and twenty percent at $202,500. Financing the remaining $936,250 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 $6,266 a month over 25 years. On a thirty-nine percent gross debt service ratio, that payment implies a household income near $192,800. The census median household income in Port Coquitlam is $102,000, which is about $90,800 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 $76,250 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 Port Coquitlam home
| Median asking price | $1,012,500 |
| Minimum down payment | $76,250 |
| Twenty percent down | $202,500 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $6,266 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 Port Coquitlam
These are the active listings the figures above describe. Asking prices move, and the payment moves with them.
Active listings in Port Coquitlam
Newly Listed
23
$675,000
A304 – 2099 Lougheed Highway
Port Coquitlam · Residential
2 bd
2 ba
1,006 sqft
$671/sqft
Built 2002
MLS® R3157048
RE/MAX All Points Realty
18
$1,390,000
1382 SUTHERLAND Avenue
Port Coquitlam · Residential
5 bd
3 ba
2,203 sqft
$631/sqft
Built 1989
MLS® R3157563
Royal Pacific Realty Corp.
39
$1,359,000
#102 – 3450 JERVIS Street
Port Coquitlam · Residential
5 bd
5 ba
2,760 sqft
$492/sqft
Built 2026
MLS® R3157473
Nu Stream Realty Inc.
28
$428,800
#110 – 2231 WELCHER Avenue
Port Coquitlam · Residential
1 bd
1 ba
672 sqft
$638/sqft
Built 1993
MLS® R3156934
Royal LePage Elite West
35
$525,000
#101 – 2983 CAMBRIDGE Street
Port Coquitlam · Residential
2 bd
2 ba
940 sqft
$559/sqft
Built 1992
MLS® R3155280
RE/MAX Sabre Realty Group
38
$458,000
#509 – 2465 WILSON Avenue
Port Coquitlam · Residential
1 bd
1 ba
491 sqft
$933/sqft
Built 2016
MLS® R3154766
Oakwyn Realty Ltd.
26
$799,999
#25 – 2495 DAVIES Avenue
Port Coquitlam · Residential
2 bd
2 ba
1,242 sqft
$644/sqft
Built 2008
MLS® R3150703
Angell, Hasman & Associates Realty Ltd.
22
$1,250,000
1861 GALER Way
Port Coquitlam · Residential
5 bd
3 ba
2,109 sqft
$593/sqft
Built 1960
MLS® R3150356
Heller Murch Realty
37
$1,235,000
1895 YUKON Avenue
Port Coquitlam · Residential
3 bd
3 ba
1,709 sqft
$723/sqft
Built 1986
MLS® R3150322
Evergreen West Realty
40
$479,000
#504 – 2331 KELLY Avenue
Port Coquitlam · Residential
1 bd
1 ba
626 sqft
$765/sqft
Built 2023
MLS® R3150016
Royal LePage Elite West
29
$888,000
#1 – 2495 DAVIES Avenue
Port Coquitlam · Residential
3 bd
3 ba
1,396 sqft
$636/sqft
Built 2008
MLS® R3149513
Metro Edge Realty
See all Port Coquitlam listings (414 active listings)
Pre-approval in cities near Port Coquitlam
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 Port Coquitlam
What income does a lender test a median-priced Port Coquitlam purchase against?
A $1,012,500 purchase with $76,250 down leaves $936,250 to finance. At the qualifying rate of 6.49% over 25 years the payment is $6,266 a month, which on a thirty-nine percent gross debt service ratio implies a household income near $192,800. The census median household income in Port Coquitlam is $102,000. 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 Port Coquitlam?
At the $1,012,500 median asking price, the federal minimum is $76,250, and twenty percent is $202,500. A price at or below $1,500,000 can carry mortgage default insurance, which is what makes the $76,250 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.
Port Coquitlam homes for saleNarrow Port Coquitlam homes by featurePort Coquitlam market reportNew listings in Port CoquitlamPort Coquitlam 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.