50
$979,999
$376/sqft
4 bd · 3 ba · 2,605 sqft
2211 Shannon Woods Place
West Kelowna · Single Family
Listed by REMAX KelownaMLS® 10388939
Pre-approval · West Kelowna
What does a mortgage pre-approval in West Kelowna ask for?
At the $739,900 median asking price, you need $48,990 down. A lender tests a payment of $4,624 a month.
- Minimum down
- $48,990
- Monthly payment a lender tests
- $4,624
- Implied household income
- $142,277
Affordability estimate · 1 of 3
What is your household income before tax?
- Minimum down
- $48,990
- Monthly payment a lender tests
- $4,624
- Implied household income
- $142,277
What a West Kelowna buyer needs
At $739,900, the minimum down payment is $48,990 and twenty percent is $147,980. Lenders test the payment at the qualifying rate of 6.49%, not the illustrative 4.49%. That is $4,624 a month over 25 years, which needs a household income near $142,277. The West Kelowna census median is $99,000, about $43,277 short of the figure the payment implies.
Homes up to $1,500,000 can carry mortgage default insurance, which allows the $48,990 minimum.
Minimum down payment on a West Kelowna home
| Figure | Amount |
|---|---|
| Median asking price | $739,900 |
| Minimum down payment | $48,990 |
| Twenty percent down | $147,980 |
| Mortgage default insurance | Available at the median price |
| Qualifying payment at 6.49% | $4,624 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 West Kelowna
Active listings in West Kelowna
628 active listings
32
$1,120,000
$335/sqft
5 bd · 3 ba · 3,343 sqft
1577 Klein Road
West Kelowna · Single Family
Listed by LPT Realty ULCMLS® 10401619
34
$524,995
$487/sqft
2 bd · 2 ba · 1,077 sqft
2092 Clover Drive
West Kelowna · Single Family
Listed by Oakwyn Realty OkanaganMLS® 10401428
63
$735,000
$365/sqft
4 bd · 3 ba · 2,012 sqft
2848 Inverness Road
West Kelowna · Single Family
Listed by REMAX KelownaMLS® 10399065
23
$765,000
$230/sqft
2 bd · 3 ba · 3,320 sqft
#239, 2330 Butt Road
West Kelowna · Single Family
Listed by REMAX KelownaMLS® 10398399
66
$1,100,000
$447/sqft
4 bd · 3 ba · 2,460 sqft
3754 Davidson Court
West Kelowna · Single Family
Listed by REMAX KelownaMLS® 10393837
63
$2,800,000
$634/sqft
4 bd · 4 ba · 4,419 sqft
4011 Sunstone Street
West Kelowna · Single Family
Listed by Sotheby's International Realty CanadaMLS® 10398067
37
$469,900
$355/sqft
2 bd · 2 ba · 1,322 sqft
#16, 1850 Shannon Lake Road
West Kelowna · Single Family
Listed by REMAX KelownaMLS® 10394335
45
$998,000
$335/sqft
4 bd · 3 ba · 2,977 sqft
1911 Cornerstone Drive
West Kelowna · Single Family
Listed by eXp Realty (Kelowna)MLS® 10402184
2
$324,900
$352/sqft
2 bd · 2 ba · 924 sqft
1999 HWY# 97 S Other
West Kelowna · Single Family
Listed by Canada Flex Realty GroupMLS® 10402233
53
$699,000
$373/sqft
5 bd · 3 ba · 1,876 sqft
3220 McIver Road
West Kelowna · Single Family
Listed by Royal LePage KelownaMLS® 10402905
20
$834,900
$424/sqft
3 bd · 3 ba · 1,970 sqft
3746 Morningside Drive
West Kelowna · Single Family
Listed by REMAX KelownaMLS® 10402749
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 West Kelowna
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 West Kelowna
At the $739,900 median, the minimum is $48,990 and twenty percent is $147,980. Homes up to $1,500,000 can carry mortgage default insurance, which allows the $48,990 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.