New
29
$729,900
#301 – 5780 Trail Avenue
Sechelt · Residential
3 bd
3 ba
1,729 sqft
$422/sqft
Built 1995
MLS® R3158285
Royal LePage Sussex
Pre-approval · Sechelt
What does a mortgage pre-approval in Sechelt actually ask for?
The median asking price in Sechelt is $839,000. At that price the minimum down payment is $58,900, 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
$839,000
Minimum down payment
$58,900
Qualifying payment
$5,221/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 Sechelt buyer
A $839,000 asking price puts the minimum down payment at $58,900 under the federal rules, and twenty percent at $167,800. Financing the remaining $780,100 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 $5,221 a month over 25 years. On a thirty-nine percent gross debt service ratio, that payment implies a household income near $160,646. The census median household income in Sechelt is $73,500, which is about $87,146 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 $58,900 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 Sechelt home
| Median asking price | $839,000 |
| Minimum down payment | $58,900 |
| Twenty percent down | $167,800 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $5,221 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 Sechelt
These are the active listings the figures above describe. Asking prices move, and the payment moves with them.
Active listings in Sechelt
Open House on Sat, 12pm–2pm
30
$598,000
5461 Carnaby Place
Sechelt · Residential
3 bd
2 ba
1,203 sqft
$497/sqft
Built 1992
MLS® R3142672
RE/MAX Oceanview Realty
34
$799,999
5787 Ebbtide Street
Sechelt · Residential
4 bd
2 ba
1,359 sqft
$589/sqft
Built 1977
MLS® R3134558
Rennie & Associates Realty Ltd.
24
$539,900
#111 – 5711 Ebbtide Street
Sechelt · Residential
3 bd
2 ba
1,359 sqft
$397/sqft
Built 1997
MLS® R3089102
RE/MAX Oceanview Realty
30
$1,089,000
5350 Benner Road
Sechelt · Residential
4 bd
3 ba
2,880 sqft
$378/sqft
Built 1982
MLS® R3148156
RE/MAX City Realty
38
$799,900
6315 TOWER Road
Sechelt · Residential
3 bd
2 ba
1,586 sqft
$504/sqft
Built 2006
MLS® R3153651
RE/MAX City Realty
40
$779,000
5803 Marine Way
Sechelt · Residential
4 bd
3 ba
2,582 sqft
$302/sqft
Built 1998
MLS® R3061359
RE/MAX Oceanview Realty
40
$899,900
6166 Norwest Bay Road
Sechelt · Residential
3 bd
2 ba
1,615 sqft
$557/sqft
Built 1993
MLS® R3119618
RE/MAX Oceanview Realty
32
$439,000
#125 – 5711 Ebbtide Street
Sechelt · Residential
2 bd
2 ba
1,267 sqft
$346/sqft
Built 1998
MLS® R3144083
RE/MAX Oceanview Realty
Newly Listed
40
$949,900
6450 Jasper Road
Sechelt · Residential
5 bd
3 ba
3,298 sqft
$288/sqft
Built 1981
MLS® R3157526
Royal LePage Sussex
40
$1,888,000
6283 SECHELT INLET Road
Sechelt · Residential
5 bd
4 ba
3,318 sqft
$569/sqft
Built 1986
MLS® R3126949
Sotheby's International Realty Canada
36
$2,650,000
6001 Silverstone Lane
Sechelt · Residential
3 bd
3 ba
3,076 sqft
$862/sqft
Built 2008
MLS® R3147083
RE/MAX Oceanview Realty
See all Sechelt listings (286 active listings)
Pre-approval in cities near Sechelt
Mortgage pre-approval in Surrey
$1,048,000 median asking price
Mortgage pre-approval in Vancouver
$1,398,000 median asking price
Mortgage pre-approval in Richmond
$1,019,000 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
$952,450 median asking price
Pre-approval questions in Sechelt
What income does a lender test a median-priced Sechelt purchase against?
A $839,000 purchase with $58,900 down leaves $780,100 to finance. At the qualifying rate of 6.49% over 25 years the payment is $5,221 a month, which on a thirty-nine percent gross debt service ratio implies a household income near $160,646. The census median household income in Sechelt is $73,500. 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 Sechelt?
At the $839,000 median asking price, the federal minimum is $58,900, and twenty percent is $167,800. A price at or below $1,500,000 can carry mortgage default insurance, which is what makes the $58,900 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.
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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.