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How Much You Can Afford When Applying For A Mortgage

In Canada, the minimum down payment requirements can impact how much you can afford when applying for a mortgage. These rules dictate that the minimum down payment must be:

  • 5% of the purchase price for homes up to $500,000
  • 10% of the purchase price for any amount between $500,000 and $1 million
  • 20% of the purchase price for homes over $1 million.

For example, if you have saved $15,000 for a down payment, the maximum home price you can afford would be $300,000 ($15,000 divided by 5%). However, if your down payment was $30,000, your maximum affordability would increase to $550,000. You can use our mortgage affordability calculator to run the numbers yourself and determine what price range would be suitable for your budget. However, some lenders may require a higher down payment depending on your credit score, employment history, and other factors. It's important to speak with a mortgage lender (I can help with this)to get a more accurate estimate of your down payment requirements.(Loanscanada.ca)

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36 Taylor Way SE
Thorburn Airdrie T4A 1S3

$599,000
Residential beds: 5 baths: 2.0 1,278 sq. ft. built: 1982

Main Photo: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 1: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 2: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 3: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 4: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 5: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 6: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 7: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 8: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 9: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 10: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
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Photo 12: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 13: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
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Photo 17: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 18: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
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Photo 22: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 23: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 24: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 25: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 26: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 27: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 28: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 29: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 30: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 31: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Photo 32: 36 Taylor Way SE: Airdrie Detached for sale : MLS®# A2152206
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2152206
Bedrooms:
5
Bathrooms:
2
Year Built:
1982
This FANTASTIC home in desirable Thorburn is located on a large CORNER lot! Complete with a FENCED yard, an OVERSIZED HEATED GARAGE, AMPLE of PARKING and RV parking with 30 amp. The main floor features lots of windows allowing for plenty of NATURAL light to flow through. The spacious kitchen comes with STAINLESS STEEL appliances, including a GAS STOVE, and an adjacent dining area. The large living room will accommodate plenty of furniture. The BEAUTIFULLY UPDATED bathroom features double sinks and a large SPA-INSPIRED shower. There are 3 bedrooms on the main level. Downstairs is finished with the second kitchen, large living room, 3 additional bedrooms, and another bathroom. 2016-2018 windows, roof, and gutters. Excellent location located on a nice quiet street close to parks, schools, shopping, and easy access to major roadways. Lower level currently rented out.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
Bi-Level
Total Living Area:
1,277.7 sq. ft.
Main Level Finished Area:
1,277.7 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,238.61 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,044 sq. ft.
Lot Frontage:
33'9⅛"
Acres Cleared:
Acres Cultivated:
Acres Irrigated:
Acres Leasehold:
Acres Not Cultivated:
Acres Freehold:
Acres Seeded:
Acres Tame Hay:
Acres Treed:
Acres Waste:
Acres Water Rights:
Front Exposure:
South
Reg. Size:
Reg. Size Includes:
Levels:
Bi-Level
Total Rooms Above Grade:
6
Year built:
1982 (Age: 42)
Bedrooms:
5 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
2
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
8011268
Heating:
Forced Air
Basement:
Finished, Full, Suite
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Stucco, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Laminate, Linoleum
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached, Oversized, RV Carport
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Unit
Thorburn
See Remarks
Refrigerator x2, Electric stove, gas stove, washers x2, dryers x2, dishwasher, window coverings
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
11'2" × 10'11"
Main Floor
Bedroom
11'2" × 10'11"
Main Floor
Dining Room
10'10" × 10'8"
Main Floor
Kitchen
10'8" × 8'8"
Main Floor
Living Room
15'3" × 15'
Main Floor
Bedroom - Primary
15' × 12'7"
Basement
Bedroom
12'9" × 6'5"
Basement
Bedroom
10'2" × 9'4"
Basement
Kitchen
15' × 9'10"
Basement
Laundry
12'9" × 11'7"
Basement
Game Room
16'3" × 15'
Basement
Storage
9'10" × 9'3"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
10'11" x 12'8"
Basement
No
4
6'5" x 9'3"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
No Smoking Home
Exterior Features:
None
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Back Yard
Num. of Parcels:
0
Fencing:
Fenced
Region:
Airdrie
Zoning:
R1
Listed Date:
Jul 24, 2024
Days on Mkt:
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Listed by RE/MAX Real Estate (Central)
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
351
Avg list price:
$599,900
Min list price:
$244,000
Max list price:
$3,299,000
Avg days on market:
24
Min days on market:
1
Max days on market:
333
Avg price per sq.ft.:
$365.85
These statistics are generated based on the current listing's property type and located in Airdrie. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706