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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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501 220 12 Avenue SE
Beltline Calgary T2R 0R5

$425,000
Residential beds: 2 baths: 2.0 843 sq. ft. built: 2009

Main Photo: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
Photo 1: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
Photo 2: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
Photo 3: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
Photo 4: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
Photo 5: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
Photo 6: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
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Photo 38: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
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Photo 41: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2165131
Bedrooms:
2
Bathrooms:
2
Year Built:
2009
This stunning 2-Bedroom corner condo in Keynote 1 has poured concrete walls to give you the privacy that you want. Beautifully updated this 2-bed/ 2-bath offers sleek design and modern finishes, this condo offers a true urban sanctuary. Highlights include 9-foot ceilings, luxurious vinyl plank flooring, premium stainless steel appliances, and breathtaking floor-to-ceiling windows that flood the space with natural light southwest sunlight. Over 25-linear feet of windows are in the main living space. Window coverings are included along with central air conditioning which ensures year-round comfort. The spacious primary suite easily accommodates a king-sized bed and features a walk-through closet leading to a private ensuite, creating your perfect retreat. You'll appreciate the custom, California closet systems with tailored shelving, drawers and hanging options in both closets. Living in this desirable downtown building means enjoying an array of top-notch amenities, including a fully equipped weight room, cardio room, an owners' lounge (complete with TVs, a kitchen, a pool table, and outdoor entertaining spaces); residents also benefit from Sunterra Market (an elevator ride away) guest suites, bike storage, and an on-site manager for added convenience. For those taking in cultural events, galleries and theater, this is a premier location; the finest shops and restaurants are within walking distance. This central address is adjacent to the Saddledome and Stampede grounds, a favourite destination. Titled parking and a titled storage unit are also included, offering even more value to this already outstanding property. Keynote has easy access to major roadways, the bike lanes along 12th ave and +15 access just 2-blocks away. Experience the epitome of modern urban living—schedule your private tour today!
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:
843 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$658.90
Condo Fee Includes:
Caretaker, Common Area Maintenance, Gas, Heat, Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Security, Security Personnel, Sewer, Snow Removal, Trash, Water
HOA Fee Includes:
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:
East
Reg. Size:
Reg. Size Includes:
Unit Exposure:
South, West
Floor Location:
Other
Entry Level:
5
Stories Total:
26
Levels:
Single Level Unit
End Unit:
1 Common Wall, End Unit
Total Rooms Above Grade:
4
Year built:
2009 (Age: 15)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0915219
Heating:
Baseboard, Hot Water, Radiant
New Constr.:
No
Construction Material:
Concrete
Structure Type:
High Rise (5+ stories)
Ensuite:
Yes
Flooring:
Vinyl Plank
Cooling:
Central Air, Partial
Fireplaces:
0
Garage:
0
Parking:
Parkade, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
KeyNote 1
Beltline
Bicycle Storage, Clubhouse, Elevator(s), Fitness Center, Guest Suite, Party Room, Secured Parking, Spa/Hot Tub, Storage, Trash
Dishwasher, Electric Stove, Microwave Hood Fan, Refrigerator, Washer/Dryer Stacked, Window Coverings
N/A
Easement Registered On Title
Restrictions, Yes
Floor
Type
Size
Other
Main Floor
Kitchen
12'7" × 8'9"
Main Floor
Living/Dining Room Combination
19'7" × 9'6"
Main Floor
Laundry
3'6" × 3'
Main Floor
Bedroom - Primary
11'5" × 11'3"
Main Floor
Bedroom
11'8" × 9'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
3
Main Floor
Yes
4
Title to Land:
Fee Simple
Community Features:
Clubhouse, Park, Playground, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Breakfast Bar, Closet Organizers, Granite Counters, High Ceilings, Kitchen Island, Low Flow Plumbing Fixtures, No Animal Home, No Smoking Home, Open Floorplan, Pantry, Stone Counters, Storage, Walk-In Closet(s)
Exterior Features:
Balcony, Courtyard, Storage, Uncovered Courtyard
Patio And Porch Features:
Balcony(s), Deck, Patio
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
DC (pre 1P2007)
Listed Date:
Sep 12, 2024
Days on Mkt:
  • Photo 1: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
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  • Photo 3: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    Over 25-linear feet of windows in this open plan
  • Photo 4: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    Enjoy spending time at the breafast bar in this kitchen
  • Photo 5: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    Full-height cabinets and a pantry are found in this kitchen
  • Photo 6: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    Open views tothe dining room the SE from
  • Photo 7: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    Luxury vinyl plank floor seamlessly flows throughout this home
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    2nd Bedroom with floor to ceiling windows
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    The primary bedroom can easily accommodate a king size bed
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  • Photo 16: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    California closets are found in both closets
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    A newer washer/dryer
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  • Photo 23: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    Sunterra Market is an elevator ride away
  • Photo 24: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    Starbucks within the block
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  • Photo 26: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    Weight room
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  • Photo 28: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    cardio room
  • Photo 29: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    +15 over to the hot-tub
  • Photo 30: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    outdoor patio for owners and guests
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  • Photo 34: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    Owner's Lounge
  • Photo 35: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    Owner's lounge
  • Photo 36: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    Guest Suite with a patio
  • Photo 37: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    guest suite
  • Photo 38: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    guest suite
  • Photo 39: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    guest suite
  • Photo 40: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    guest suite
  • Photo 41: 501 220 12 Avenue SE in Calgary: Beltline Apartment for sale : MLS®# A2165131
    guest suite
Listed by Royal LePage Benchmark
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
235
Avg list price:
$385,000
Min list price:
$188,000
Max list price:
$2,900,000
Avg days on market:
43
Min days on market:
1
Max days on market:
448
Avg price per sq.ft.:
$503.8
These statistics are generated based on the current listing's property type and located in Beltline. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706