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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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2408 625 Glenbow Drive
Glenbow Cochrane T4C 0S8

$358,500
Residential beds: 3 baths: 2.0 971 sq. ft. built: 2013

Centrally located in the heart of Cochrane
Photo 1: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 2: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 3: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 4: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 5: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 6: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 7: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 8: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 9: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 10: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 11: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 12: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 13: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 14: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 15: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 16: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 17: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 18: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 19: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 20: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 21: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 22: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 23: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 24: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 25: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 26: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 27: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Photo 28: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2171921
Bedrooms:
3
Bathrooms:
2
Year Built:
2013
TOP FLOOR UNIT | PANORAMIC VIEWS | 3 BEDROOMS | 2 BATHROOMS | 2 PARKING STALLS | Welcome to this gorgeous sun-filled and fully upgraded TOP FLOOR condo in one of Cochrane's most sought-after locations! This top-floor unit spans 971 sq ft, providing comfortable open concept living. Boasting over $26,000 in upgrades including newer flooring (vinyl plank and carpets), california adjustable closets, portable AC unit, new refrigerator, dishwasher and granite countertops in the kitchen and bathrooms. The impressive walk-in laundry room offers ample storage, while the spacious layout includes 3 bedrooms and 2 bathrooms, featuring an en-suite bathroom with a convenient walk in shower and a second 4 pc bathroom. The kitchen is a chef’s delight with stainless steel appliances and eat up kitchen island, perfect for entertaining. This unit includes two parking stalls: one underground with extra storage and another above-ground near the entrance, enhancing privacy and convenience. This home also features one of the lowest condo fees in Cochrane, thanks to the well-managed property overseen by Astoria. The building’s budget and reserve fund are in excellent standing, offering peace of mind. Centrally located in downtown Cochrane, all the amenities of town just a short walk from your front door and kms of walking paths around Cochrane, down to the Bow River or the Cochrane Ranch. If you are a nature lover looking for walking distance amenities, this is the property for you!!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Apartment
Total Living Area:
970.6 sq. ft.
Main Level Finished Area:
970.6 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$512.00
Condo Fee Includes:
Amenities of HOA/Condo, Common Area Maintenance, Heat, Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Snow Removal, Trash, Water
HOA Fee Includes:
Lot Area:
961 sq. ft.
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:
Southeast
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Southeast
Floor Location:
Top
Entry Level:
1
Stories Total:
4
Levels:
Single Level Unit
End Unit:
1 Common Wall
Total Rooms Above Grade:
6
Year built:
2013 (Age: 11)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
1410121
Heating:
Baseboard
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Carpet, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Stall, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit, Main Level
Condo Fee Frequency:
Monthly
Z-name Not Listed
Glenbow
Elevator(s), Gazebo, Trash, Visitor Parking
Dishwasher, Electric Range, Microwave, Refrigerator, Washer/Dryer Stacked
Dishwasher, Electric Range, Microwave Hood Fan, Refrigerator, Wall/Window Air Conditioner, Washer/Dryer Stacked, Window Coverings
Board Approval, Pets Allowed
Restrictions
Floor
Type
Size
Other
Main Floor
Entrance
7'11" × 3'8"
Main Floor
Kitchen
8'9" × 8'4"
Main Floor
Dining Room
12' × 7'2"
Main Floor
Living Room
15'11" × 11'1"
Main Floor
Bedroom - Primary
14'7" × 14'
Main Floor
Bedroom
9'11" × 9'3"
Main Floor
Bedroom
9'2" × 8'5"
Main Floor
Laundry
9'11" × 5'
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 7'9"
Main Floor
Yes
3
4'11" x 8'1"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Built-in Features, Ceiling Fan(s), Closet Organizers, Granite Counters, Kitchen Island, No Smoking Home, Open Floorplan, Pantry, Storage
Exterior Features:
Courtyard
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Rocky View County
Zoning:
R-HD
Listed Date:
Oct 15, 2024
Days on Mkt:
  • Photo 1: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Centrally located in the heart of Cochrane
  • Photo 2: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    SE facing balcony
  • Photo 3: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Complex grounds
  • Photo 4: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Photo 4 of 28
  • Photo 5: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Views from the balcony
  • Photo 6: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Sun filled living room
  • Photo 7: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Photo 7 of 28
  • Photo 8: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Open concept living
  • Photo 9: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Granite countertops
  • Photo 10: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    SS appliances
  • Photo 11: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Spacious primary bedroom
  • Photo 12: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Photo 12 of 28
  • Photo 13: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    California closets
  • Photo 14: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    ensuite bathroom
  • Photo 15: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    2nd bedroom
  • Photo 16: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Photo 16 of 28
  • Photo 17: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    3rd bedroom / office
  • Photo 18: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Guest 4 pc bathroom
  • Photo 19: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Photo 19 of 28
  • Photo 20: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Photo 20 of 28
  • Photo 21: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Photo 21 of 28
  • Photo 22: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Photo 22 of 28
  • Photo 23: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Photo 23 of 28
  • Photo 24: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Photo 24 of 28
  • Photo 25: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Underground parking #221
  • Photo 26: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Building lobby
  • Photo 27: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Photo 27 of 28
  • Photo 28: 2408 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2171921
    Front entrance
Listed by CIR Realty
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
188
Avg list price:
$661,950
Min list price:
$249,900
Max list price:
$1,375,000
Avg days on market:
33
Min days on market:
1
Max days on market:
398
Avg price per sq.ft.:
$370.99
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