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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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When contacting me, please ensure to include the property address or MLS® number for the listing you are interested in. I look forward to hearing from you!

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NEXT Open House details
Sep 21, 2024 12:00 PM - 03:00 PM MDT

4 Bow Court
Bow Meadows Cochrane T4C 1M8

$674,900
Residential beds: 4 baths: 3.0 1,291 sq. ft. built: 1996

Front
Photo 1: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 2: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 3: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 4: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 5: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 6: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 7: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 8: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 9: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 10: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 11: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 12: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 13: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 14: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 15: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 16: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 17: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 18: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 19: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 20: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 21: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 22: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 23: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Photo 24: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
Open House - Sep 21, 2024
12:00 PM - 03:00 PM MDT
NOTES: Open House on Saturday, September 21, 2024 12:00PM - 3:00PM
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2158852
Bedrooms:
4
Bathrooms:
3
Year Built:
1996
OPEN HOUSE Saturday Sept 21 from 12 pm-3 pm. Welcome home to your bilevel - 4-bedroom, 3 bath home with a home office at 4 Bow Meadows Court in Cochrane. The home is on a cul-de-sac in the desired Bow Meadows neighborhood. Bow Meadows has year-round recreation opportunities including nature reserves, pathways along the river, playgrounds, sport fields and it is close to downtown. The upstairs of the home features hardwood flooring and a large living room with wood burning fireplace which allows for plenty of room for entertaining guests. The upstairs includes 3 bedrooms with a large primary bedroom with 3-piece ensuite. The well layout kitchen is connected to the dining area and boasts views of your private south facing back yard. The downstairs features large windows and new carpet which makes this basement very livable. The large family room includes a gas fireplace to keep you warm on a chilly winter night. Rounding out the basement, there is a large home office/den and a larger bedroom along with a 2-piece bathroom and laundry room. This property is over 6400 square feet, with mature landscaping and no rear neighbors which provides you with privacy and is great for family BBQ's, entertaining, gardening, and for kids to play. Speaking of play, the playground and sports fields are just steps from this home! The home also has an attached two car garage. This home is freshly painted and ready for you to move into. It is a must see but hurry it won’t last long! Contact your Realtor® to book a private showing.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bi-Level
Total Living Area:
1,290.6 sq. ft.
Main Level Finished Area:
1,290.6 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,290.6 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
6,479 sq. ft.
Lot Frontage:
52'7"
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:
Northeast
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Southwest
Floor Location:
Below Grade
Levels:
Bi-Level
Total Rooms Above Grade:
6
Year built:
1996 (Age: 28)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
9410667
Heating:
Fireplace(s), Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood, Laminate, Linoleum
Cooling:
None
Fireplaces:
2
Fireplace Details:
Brick Facing, Family Room, Gas, Living Room, Mantle, Wood Burning
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
In Basement
Bow Meadows
Dishwasher, Electric Stove, Range Hood, Refrigerator, Washer/Dryer
Shed
Restrictive Covenant, Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Entrance
10'6" × 6'7"
Main Floor
Living Room
18' × 12'7"
Main Floor
Kitchen
12'11" × 11'2"
Main Floor
Dining Room
12'11" × 11'3"
Main Floor
Bedroom
10'3" × 9'11"
Main Floor
Bedroom
10'3" × 9'2"
Main Floor
Bedroom - Primary
13'9" × 11'
Lower Level
Family Room
26' × 19'11"
Lower Level
Bedroom
11'4" × 9'9"
Lower Level
Office
10'8" × 8'7"
Lower Level
Storage
11'5" × 9'
Lower Level
Laundry
16' × 11'5"
Basement
Storage
10'4" × 9'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 8'11"
Main Floor
Yes
4
4'11" x 8'1"
Lower Level
No
2
5'10" x 11'3"
Title to Land:
Fee Simple
Community Features:
Fishing, Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Ceiling Fan(s), High Ceilings, Laminate Counters, Vaulted Ceiling(s), Walk-In Closet(s)
Exterior Features:
Private Yard, Storage
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Cul-De-Sac, Environmental Reserve, No Neighbours Behind, Irregular Lot, Street Lighting, Pie Shaped Lot
Num. of Parcels:
0
Outbuildings:
Shed
Fencing:
Fenced
Region:
Rocky View County
Zoning:
R-LD
Listed Date:
Sep 04, 2024
Days on Mkt:
  • Photo 1: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Front
  • Photo 2: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Main Living Room with Fireplace
  • Photo 3: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Main Living Room
  • Photo 4: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Photo 4 of 24
  • Photo 5: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Kitchen
  • Photo 6: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Kitchen
  • Photo 7: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Kitchen
  • Photo 8: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Kitchen
  • Photo 9: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Dining Area
  • Photo 10: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Front Entrance
  • Photo 11: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Primary Bedroom
  • Photo 12: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Primary Bedroom and Ensuite
  • Photo 13: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Upstairs Bedroom 1
  • Photo 14: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Upstairs Bedroom 2
  • Photo 15: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Upstairs Bath
  • Photo 16: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Family Room
  • Photo 17: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Basement
  • Photo 18: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Office
  • Photo 19: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Downstairs Bedroom
  • Photo 20: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Downstairs Bathroom
  • Photo 21: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Back & Side Yard
  • Photo 22: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Rear view
  • Photo 23: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Back Deck and Shed
  • Photo 24: 4 Bow Court: Cochrane Detached for sale : MLS®# A2158852
    Attached Garage
Listed by First Place Realty
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
171
Avg list price:
$689,900
Min list price:
$269,900
Max list price:
$1,375,000
Avg days on market:
29
Min days on market:
1
Max days on market:
345
Avg price per sq.ft.:
$372.71
These statistics are generated based on the current listing's property type and located in Cochrane. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706