72
$1,249,900
$682/sqft
4 bd · 2 ba · 1,833 sqft
1136 Corcan Road
Qualicum Beach · Single Family
Listed by Easy List RealtyMLS® 1051658
Pre-approval · Qualicum Beach
What does a mortgage pre-approval in Qualicum Beach ask for?
At the $899,000 median asking price, you need $64,900 down. A lender tests a payment of $5,582 a month.
- Minimum down
- $64,900
- Monthly payment a lender tests
- $5,582
- Implied household income
- $171,754
Affordability estimate · 1 of 3
What is your household income before tax?
- Minimum down
- $64,900
- Monthly payment a lender tests
- $5,582
- Implied household income
- $171,754
What a Qualicum Beach buyer needs
At $899,000, the minimum down payment is $64,900 and twenty percent is $179,800. Lenders test the payment at the qualifying rate of 6.49%, not the illustrative 4.49%. That is $5,582 a month over 25 years, which needs a household income near $171,754. The Qualicum Beach census median is $76,500, about $95,254 short of the figure the payment implies.
Homes up to $1,500,000 can carry mortgage default insurance, which allows the $64,900 minimum.
Minimum down payment on a Qualicum Beach home
| Figure | Amount |
|---|---|
| Median asking price | $899,000 |
| Minimum down payment | $64,900 |
| Twenty percent down | $179,800 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $5,582 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 Qualicum Beach
Active listings in Qualicum Beach
168 active listings
57
$2,200,000
$551/sqft
5 bd · 4 ba · 3,993 sqft
1045 RAVENSBOURNE Lane
Qualicum Beach · Single Family
Listed by HOMELAB Real Estate GroupMLS® 1051822
26
$739,900
$429/sqft
3 bd · 2 ba · 1,725 sqft
728 Banwell Court
Qualicum Beach · Single Family
Listed by Royal LePage Island Living (PK)MLS® 1051840
22
$849,000
$387/sqft
2 bd · 2 ba · 2,194 sqft
142 SUNNINGDALE Road
Qualicum Beach · Single Family
Listed by HOMELAB Real Estate GroupMLS® 1051802
17
$359,900
Lot 4 Salmond Road
Qualicum Beach · Vacant Land
Listed by REMAX Professionals (NA)MLS® 1051127
17
$329,900
Lot 3 Salmond Road
Qualicum Beach · Vacant Land
Listed by REMAX Professionals (NA)MLS® 1051120
69
$1,120,000
$606/sqft
2 bd · 2 ba · 1,849 sqft
260 Elizabeth Avenue
Qualicum Beach · Single Family
Listed by 460 Realty Inc. (QU)MLS® 1051466
69
$2,050,000
$543/sqft
4 bd · 5 ba · 3,776 sqft
177 Sunningdale Road
Qualicum Beach · Single Family
Listed by Engel & Volkers Vancouver Island NorthMLS® 1051069
$2,400,000
692 Beach Road
Qualicum Beach · Other
Listed by eXp Realty (NA)MLS® 1050932
27
$398,000
$532/sqft
2 bd · 1 ba · 748 sqft
#6, 129 Sixth Avenue
Qualicum Beach · Single Family
Listed by Royal LePage Island Living (PK)MLS® 1050545
42
$684,900
$466/sqft
2 bd · 2 ba · 1,470 sqft
#1, 885 Berwick Road
Qualicum Beach · Single Family
Listed by One Percent Realty Ltd.MLS® 1047694
74
$848,000
$491/sqft
3 bd · 2 ba · 1,727 sqft
#24, 5251 Island Highway
Qualicum Beach · Single Family
Listed by Royal LePage Island Living (PK)MLS® 1046383
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 Qualicum Beach
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 Qualicum Beach
At the $899,000 median, the minimum is $64,900 and twenty percent is $179,800. Homes up to $1,500,000 can carry mortgage default insurance, which allows the $64,900 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.