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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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2410 625 Glenbow Drive
Glenbow Cochrane T4C 0S9

$319,900
Residential beds: 2 baths: 2.0 872 sq. ft. built: 2013

Main Photo: 2410 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2178469
Photo 1: 2410 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2178469
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Photo 37: 2410 625 Glenbow Drive: Cochrane Apartment for sale : MLS®# A2178469
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2178469
Bedrooms:
2
Bathrooms:
2
Year Built:
2013
INVESTOR ALERT! Great TOP FLOOR 2 bedroom / 2 bath + DEN upgraded apartment unit with wonderful east views. Prime location in the heart of town, walking distance to shopping, banking, clinics, library, movie theatre, drug stores, coffee shops, restaurants and more. All available developer upgrades - granite counters, Stainless Steel appliances, ceramic tile floors in entry, kitchen and bathrooms. Just a hop, skip and jump to Cochrane's great bike path network, and the Bow River. 1 TITLED UNDERGROUND PARKING STALL AND 1 ASSIGNED SURFACE STALL. Tenant in place until June 30, 2025. Immediate possession if assuming tenant. Invest in your future today!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Apartment
Total Living Area:
872.5 sq. ft.
Main Level Finished Area:
872.5 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$458.44
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Maintenance Grounds, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash, Water
HOA Fee Includes:
Lot Area:
864 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:
West
Reg. Size:
Reg. Size Includes:
Unit Exposure:
East
Floor Location:
Top
Entry Level:
4
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls, No One Above
Total Rooms Above Grade:
6
Year built:
2013 (Age: 11)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
1410121
Heating:
Baseboard, Hot Water, Natural Gas, Radiant
Basement:
None
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Roof:
Membrane
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Assigned, Parkade, Stall, Titled, Underground
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Z-name Not Listed
Glenbow
Elevator(s), Gazebo, Parking, Visitor Parking
Dishwasher, Dryer, Microwave Hood Fan, Refrigerator, Stove(s), Washer
N/A
Pet Restrictions or Board approval Required, Utility Right Of Way
Restrictions
Floor
Type
Size
Other
Main Floor
Bedroom
13'3" × 11'3"
Main Floor
Dining Room
14'1" × 10'9"
Main Floor
Kitchen
8'2" × 7'10"
Main Floor
Living Room
16'1" × 12'7"
Main Floor
Den
11'8" × 8'
Main Floor
Bedroom - Primary
11'5" × 10'
Floor
Ensuite
Pieces
Other
Main Floor
No
4
7'5" x 4'11"
Main Floor
Yes
4
5' x 7'10"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Breakfast Bar, Granite Counters, Kitchen Island, Open Floorplan
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Rocky View County
Zoning:
R-HD
Listed Date:
Nov 09, 2024
Days on Mkt:
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Listed by TREC The Real Estate Company
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