6
$1,089,000
7300 FOXRIDGE Avenue
Prince George · Residential
5 bd
4 ba
4,776 sqft
$228/sqft
Built 2026
MLS® R3138241
RE/MAX Core Realty
Pre-approval · Prince George
What does a mortgage pre-approval in Prince George actually ask for?
The median asking price in Prince George is $420,000. At that price the minimum down payment is $21,000, 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
$420,000
Minimum down payment
$21,000
Qualifying payment
$2,670/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 Prince George buyer
A $420,000 asking price puts the minimum down payment at $21,000 under the federal rules, and twenty percent at $84,000. Financing the remaining $399,000 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 $2,670 a month over 25 years. On a thirty-nine percent gross debt service ratio, that payment implies a household income near $82,154. The census median household income in Prince George is $88,000, which is about $5,846 above the figure the payment implies.
A price at or below $1,500,000 can carry mortgage default insurance, which is what makes the $21,000 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 Prince George home
| Median asking price | $420,000 |
| Minimum down payment | $21,000 |
| Twenty percent down | $84,000 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $2,670 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 Prince George
These are the active listings the figures above describe. Asking prices move, and the payment moves with them.
Active listings in Prince George
25
$799,900
7118 FOXRIDGE Court
Prince George · Residential
4 bd
3 ba
3,790 sqft
$211/sqft
Built 2019
MLS® R3147639
RE/MAX Core Realty
30
$529,900
325 BOYD Street
Prince George · Residential
3 bd
1 ba
2,240 sqft
$237/sqft
Built 1975
MLS® R3155272
RE/MAX Core Realty
15
$385,000
2146 MCLAREN Road
Prince George · Residential
3 bd
1 ba
1,163 sqft
$331/sqft
Built 1958
MLS® R3156711
Royal LePage Aspire Realty
39
$1,099,900
3930 ESTABROOK Court
Prince George · Residential
7 bd
5 ba
4,364 sqft
$252/sqft
Built 2026
MLS® R3093786
RE/MAX Core Realty
28
$399,900
6955 ADAM Drive
Prince George · Residential
3 bd
1 ba
1,225 sqft
$326/sqft
Built 1969
MLS® R3158072
Royal LePage Aspire Realty
31
$639,000
3291 ST FRANCES Crescent
Prince George · Residential
4 bd
3 ba
2,908 sqft
$220/sqft
Built 1999
MLS® R3157815
Royal LePage Aspire Realty
36
$438,000
598 WATROUS Street
Prince George · Residential
3 bd
1 ba
1,500 sqft
$292/sqft
Built 1921
MLS® R3140116
Royal LePage Aspire Realty
40
$699,000
2675 RIDGEVIEW Drive
Prince George · Residential
6 bd
4 ba
3,160 sqft
$221/sqft
Built 1985
MLS® R3141262
Royal LePage Aspire Realty
32
$559,000
2461 CHURCHILL Road
Prince George · Residential
5 bd
3 ba
2,448 sqft
$228/sqft
Built 1973
MLS® R3157279
RE/MAX Core Realty
15
$445,000
7078 HARVARD Crescent
Prince George · Residential
3 bd
1 ba
1,824 sqft
$244/sqft
Built 1975
MLS® R3157237
RE/MAX Core Realty
$6,315,000
3636 PINEWOOD Avenue
Prince George · Residential
35,472 sqft
$178/sqft
MLS® C8081330
Maxsave Real Estate Services
See all Prince George listings (823 active listings)
Pre-approval in cities near Prince George
Mortgage pre-approval in Surrey
$1,049,000 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
$890,000 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 Prince George
What income does a lender test a median-priced Prince George purchase against?
A $420,000 purchase with $21,000 down leaves $399,000 to finance. At the qualifying rate of 6.49% over 25 years the payment is $2,670 a month, which on a thirty-nine percent gross debt service ratio implies a household income near $82,154. The census median household income in Prince George is $88,000. 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 Prince George?
At the $420,000 median asking price, the federal minimum is $21,000, and twenty percent is $84,000. A price at or below $1,500,000 can carry mortgage default insurance, which is what makes the $21,000 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.
Prince George homes for saleNarrow Prince George homes by featurePrince George market reportNew listings in Prince GeorgePrince George 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.