33
$1,149,900
$650/sqft
3 bd · 3 ba · 1,770 sqft
#4, 2123 Clarke Street
Port Moody · Townhouse
Listed by Royal LePage Sterling RealtyMLS® R3173502
Pre-approval · Port Moody
What does a mortgage pre-approval in Port Moody ask for?
At the $999,950 median asking price, you need $74,995 down. A lender tests a payment of $6,190 a month.
- Minimum down
- $74,995
- Monthly payment a lender tests
- $6,190
- Implied household income
- $190,462
Affordability estimate · 1 of 3
What is your household income before tax?
- Minimum down
- $74,995
- Monthly payment a lender tests
- $6,190
- Implied household income
- $190,462
What a Port Moody buyer needs
At $999,950, the minimum down payment is $74,995 and twenty percent is $199,990. Lenders test the payment at the qualifying rate of 6.49%, not the illustrative 4.49%. That is $6,190 a month over 25 years, which needs a household income near $190,462. The Port Moody census median is $115,000, about $75,462 short of the figure the payment implies.
Homes up to $1,500,000 can carry mortgage default insurance, which allows the $74,995 minimum.
Minimum down payment on a Port Moody home
| Figure | Amount |
|---|---|
| Median asking price | $999,950 |
| Minimum down payment | $74,995 |
| Twenty percent down | $199,990 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $6,190 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 Port Moody
Active listings in Port Moody
328 active listings
31
$569,900
$783/sqft
1 bd · 1 ba · 728 sqft
#401, 3142 St Johns Street
Port Moody · Apartment/Condo
Listed by RE/MAX All Points RealtyMLS® R3166584
25
$899,000
$957/sqft
2 bd · 2 ba · 939 sqft
#506, 83 Moody Street
Port Moody · Apartment/Condo
Listed by Oakwyn Realty Ltd.MLS® R3166969
40
$2,750,000
$971/sqft
5 bd · 3 ba · 2,832 sqft
831 Ioco Road
Port Moody · Single Family Residence
Listed by RE/MAX Crest RealtyMLS® R3172555
40
$2,150,000
$716/sqft
4 bd · 4 ba · 3,002 sqft
724 Ioco Road
Port Moody · Single Family Residence
Listed by RE/MAX WestcoastMLS® R3171181
40
$1,529,900
$654/sqft
4 bd · 3 ba · 2,338 sqft
1032 Glenayre Drive
Port Moody · Single Family Residence
Listed by Royal LePage Sterling RealtyMLS® R3173044
40
$2,280,000
$622/sqft
4 bd · 4 ba · 3,668 sqft
60 Walton Way
Port Moody · Single Family Residence
Listed by Team 3000 Realty Ltd.MLS® R3143213
32
$1,799,000
$565/sqft
5 bd · 4 ba · 3,182 sqft
143 Maple Drive
Port Moody · Single Family Residence
Listed by Royal LePage Elite WestMLS® R3174106
34
$979,900
$735/sqft
3 bd · 2 ba · 1,333 sqft
#1404, 288 Ungless Way
Port Moody · Apartment/Condo
Listed by Stilhavn Real Estate ServicesMLS® R3157002
39
$1,968,000
$423/sqft
5 bd · 5 ba · 4,655 sqft
147 Aspenwood Drive
Port Moody · Single Family Residence
Listed by Evergreen West RealtyMLS® R3157753
34
$1,599,900
$694/sqft
5 bd · 3 ba · 2,304 sqft
862 Wallace Wynd
Port Moody · Single Family Residence
Listed by One Percent Realty Ltd.MLS® R3174342
25
$714,800
$787/sqft
2 bd · 2 ba · 908 sqft
#613, 95 Moody Street
Port Moody · Apartment/Condo
Listed by RE/MAX All Points RealtyMLS® R3170601
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 Port Moody
Mortgage pre-approval in Surrey
$999,999 median asking price
Mortgage pre-approval in Vancouver
$1,380,000 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 Port Moody
At the $999,950 median, the minimum is $74,995 and twenty percent is $199,990. Homes up to $1,500,000 can carry mortgage default insurance, which allows the $74,995 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.