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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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  2. Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

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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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53 Sundown Grove
Sunset Ridge Cochrane T4C 0X5

$985,000
Residential beds: 4 baths: 4.0 2,500 sq. ft. built: 2015

Main Photo: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 1: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 2: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 3: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 4: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 5: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 6: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 7: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 8: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 9: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 10: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 11: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 12: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 13: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 14: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 15: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 16: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 17: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 18: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 19: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 20: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Photo 21: 53 Sundown Grove: Cochrane Detached for sale : MLS®# A2160792
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2160792
Bedrooms:
4
Bathrooms:
4
Year Built:
2015
Discover Your Dream Home in Sunset Ridge! Nestled in the picturesque community of Sunset Ridge, this exceptional home is perfectly positioned on a sprawling CORNER LOT, offering breathtaking mountain, pond, and park VIEWS with NO NEIGHBOURS BEHIND you. Imagine waking up to serene, unobstructed views right from your own backyard, which features a fully fenced yard and a DECK designed for perfect outdoor entertaining. The property also boasts a convenient walking path along the side, adding to the charm and accessibility. Step inside to find an interior that blends luxury with functionality. The gourmet kitchen is a chef's dream, featuring QUARTZ countertops, full-height cabinetry, and a WALK-IN PANTRY. The main floor exudes elegance with engineered HARDWOOD flooring and a cozy gas FIREPLACE, creating the perfect ambiance for relaxing evenings. With AIR CONDITIONING and TRIPLE-PANE WINDOWS—enhanced by Hunter Douglas window coverings (some AUTOMATED)—this home is designed for year-round comfort and energy efficiency. Upstairs, you'll find a versatile bonus room that can easily serve as a family room or play area, along with a convenient LAUNDRY ROOM and three generously sized bedrooms. The primary suite is your private sanctuary, complete with an ENSUITE bathroom that includes DOUBLE VANITIES, TWO WALK-IN CLOSETS, and a luxurious SOAKER TUB, providing the perfect retreat after a long day. The FULLY FINISHED WALKOUT basement extends your living space with a fourth bedroom, a bathroom with a tiled stand-up shower, an OFFICE for remote work, and an additional living room that could double as a media room or guest suite. This home in Sunset Ridge offers the perfect blend of luxury, comfort, and stunning natural beauty. Don't miss your chance to make it yours—schedule a viewing today and step into the lifestyle you've always dreamed of!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
2,500 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
6,802 sq. ft.
Lot Frontage:
18'7"
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:
Levels:
Two
Total Rooms Above Grade:
8
Year built:
2015 (Age: 9)
Bedrooms:
4 (Above Grd: 4)
Bedrooms Above Grade:
4
Bedrooms Below Grade:
0
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
1313277
Heating:
Fireplace(s), Forced Air, Natural Gas
Basement:
Finished, Full, Walk-Out To Grade
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Cement Fiber Board, Concrete, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Hardwood, Tile
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Gas, Living Room, Mantle
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached, Driveway, Front Drive, Insulated
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Laundry Room, Upper Level
Sunset Ridge
Built-In Oven, Central Air Conditioner, Dishwasher, Gas Cooktop, Microwave, Range Hood, Refrigerator, Washer/Dryer, Window Coverings
Curtains
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
14'4" × 9'8"
Main Floor
Dining Room
12'11" × 11'11"
Main Floor
Living Room
18'9" × 13'11"
Upper Level
Bonus Room
14'1" × 13'11"
Upper Level
Laundry
6'11" × 5'11"
Upper Level
Bedroom - Primary
19'2" × 12'7"
Upper Level
Bedroom
13'4" × 8'11"
Upper Level
Bedroom
14'11" × 9'8"
Upper Level
Bedroom
12'8" × 11'8"
Basement
Game Room
22'10" × 12'3"
Basement
Office
12'8" × 7'1"
Basement
Furnace/Utility Room
21'3" × 8'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
4'10" x 5'5"
Upper Level
No
4
4'11" x 11'1"
Upper Level
Yes
5
13'6" x 13'11"
Basement
No
3
4'9" x 12'2"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Bar, Breakfast Bar, Double Vanity, High Ceilings, Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan, Pantry, Quartz Counters, Walk-In Closet(s)
Exterior Features:
Balcony, Garden
Patio And Porch Features:
Deck, Front Porch, Patio
Lot Features:
Back Yard, Backs on to Park/Green Space, Corner Lot, Creek/River/Stream/Pond, Front Yard, Greenbelt, No Neighbours Behind, Landscaped, Street Lighting, Pie Shaped Lot, Views, Waterfront
Waterfront Features:
Pond
Num. of Parcels:
0
Fencing:
Fenced
Region:
Rocky View County
Zoning:
R-LD
Listed Date:
Sep 12, 2024
Days on Mkt:
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Listed by eXp 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