New
Open House on Thu, 10am–12pm
40
$2,450,000
1494 Inglewood Avenue
West Vancouver · Residential
5 bd
4 ba
3,101 sqft
$790/sqft
Built 1993
MLS® R3158412
RE/MAX Masters Realty
Pre-approval · West Vancouver
What does a mortgage pre-approval in West Vancouver actually ask for?
The median asking price in West Vancouver is $2,994,000. At that price the minimum down payment is $598,800, 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
$2,994,000
Minimum down payment
$598,800
Qualifying payment
$16,029/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 West Vancouver buyer
A $2,994,000 asking price puts the minimum down payment at $598,800 under the federal rules, and twenty percent at $598,800. Financing the remaining $2,395,200 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 $16,029 a month over 25 years. On a thirty-nine percent gross debt service ratio, that payment implies a household income near $493,200. The census median household income in West Vancouver is $104,000, which is about $389,200 short of the figure the payment implies.
A price above $1,500,000 cannot carry mortgage default insurance, so a West Vancouver purchase at the median asks for twenty percent down as a floor, not five.
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 West Vancouver home
| Median asking price | $2,994,000 |
| Minimum down payment | $598,800 |
| Twenty percent down | $598,800 |
| Mortgage default insurance | Not available above $1,500,000 |
| Qualifying payment at 6.49% | $16,029 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 West Vancouver
These are the active listings the figures above describe. Asking prices move, and the payment moves with them.
Active listings in West Vancouver
Newly Listed
Open House on Thu, 10am–12pm
38
$8,998,000
2052 Inglewood Avenue
West Vancouver · Residential
8 bd
11 ba
8,617 sqft
$1,044/sqft
Built 2019
MLS® R3155613
Rennie & Associates Realty - Jason Soprovich
35
$1,999,000
6222 ST. GEORGES Avenue
West Vancouver · Residential
4 bd
2 ba
1,833 sqft
$1,091/sqft
Built 1958
MLS® R3154173
Royal LePage Sussex
14
$639,000
#502 – 1737 DUCHESS Avenue
West Vancouver · Residential
2 bd
1 ba
755 sqft
$846/sqft
Built 1980
MLS® R3151754
One Percent Realty Ltd.
New
40
$8,880,000
4135 Burkehill Place
West Vancouver · Residential
5 bd
6 ba
6,014 sqft
$1,477/sqft
Built 2022
MLS® R3158210
RE/MAX Crest Realty
39
$3,298,000
1733 Fulton Avenue
West Vancouver · Residential
6 bd
3 ba
3,554 sqft
$928/sqft
Built 1938
MLS® R3145887
Royal LePage Sussex
25
$4,690,000
4468 STONE Crescent
West Vancouver · Residential
4 bd
3 ba
3,867 sqft
$1,213/sqft
Built 1938
MLS® R3147847
RE/MAX Crest Realty
2
$2,999,800
1181 CHARTWELL Drive
West Vancouver · Residential
7 bd
5 ba
4,591 sqft
$653/sqft
Built 1972
MLS® R3157980
Angell, Hasman & Associates Realty Ltd.
30
$5,680,000
1526 CHIPPENDALE Court
West Vancouver · Residential
5 bd
5 ba
6,466 sqft
$878/sqft
Built 1993
MLS® R3126964
Dracco Pacific Realty
40
$5,980,000
4313 ROCKRIDGE Road
West Vancouver · Residential
5 bd
7 ba
5,748 sqft
$1,040/sqft
Built 2010
MLS® R3101883
Sincere Real Estate Services
15
$8,880,000
1119 MILLSTREAM Road
West Vancouver · Residential
7 bd
9 ba
10,183 sqft
$872/sqft
Built 2024
MLS® R3090471
Dracco Pacific Realty
19
$1,849,000
478 CRAIGMOHR Drive
West Vancouver · Land
MLS® R3158248
Oakwyn Realty Ltd.
See all West Vancouver listings (628 active listings)
Pre-approval in cities near West Vancouver
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 West Vancouver
What income does a lender test a median-priced West Vancouver purchase against?
A $2,994,000 purchase with $598,800 down leaves $2,395,200 to finance. At the qualifying rate of 6.49% over 25 years the payment is $16,029 a month, which on a thirty-nine percent gross debt service ratio implies a household income near $493,200. The census median household income in West Vancouver is $104,000. 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 West Vancouver?
At the $2,994,000 median asking price, the federal minimum is $598,800, and twenty percent is $598,800. A price above $1,500,000 cannot carry mortgage default insurance, so a West Vancouver purchase at the median asks for twenty percent down as a floor, not five. 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.
West Vancouver homes for saleNarrow West Vancouver homes by featureWest Vancouver market reportNew listings in West VancouverWest Vancouver 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.