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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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6231 4 Street NE
Thorncliffe Calgary T2K 1K4

$639,900
Residential beds: 4 baths: 3.0 1,031 sq. ft. built: 1970

Main Photo: 6231 4 Street NE in Calgary: Thorncliffe Detached for sale : MLS®# A2146889
Photo 1: 6231 4 Street NE in Calgary: Thorncliffe Detached for sale : MLS®# A2146889
Photo 2: 6231 4 Street NE in Calgary: Thorncliffe Detached for sale : MLS®# A2146889
Photo 3: 6231 4 Street NE in Calgary: Thorncliffe Detached for sale : MLS®# A2146889
Photo 4: 6231 4 Street NE in Calgary: Thorncliffe Detached for sale : MLS®# A2146889
Photo 5: 6231 4 Street NE in Calgary: Thorncliffe Detached for sale : MLS®# A2146889
Photo 6: 6231 4 Street NE in Calgary: Thorncliffe Detached for sale : MLS®# A2146889
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Photo 8: 6231 4 Street NE in Calgary: Thorncliffe Detached for sale : MLS®# A2146889
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Photo 42: 6231 4 Street NE in Calgary: Thorncliffe Detached for sale : MLS®# A2146889
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2146889
Bedrooms:
4
Bathrooms:
3
Year Built:
1970
**PRICE REDUCED FOR A QUICK SALE! NEW BSMT STOVE PLUG INSTALLED. **WATCH VIDEO**Welcome to this FULLY RENOVATED HOME in the wonderful community of Thorncliffe! This bungalow has BRAND NEW EXTERIOR and INTERIOR RENOVATIONS, an ILLEGAL 2 BED BASEMENT RENTAL SUITE, & a DOUBLE DETACHED GARAGE! NEW ROOF, NEW HARDY-BOARD SIDING, exposed aggregate steps/walkway & front patio, fresh sod, & more! As you enter, you'll be greeted by an OPEN CONCEPT setting. Living room has a nice built-in wall unit surrounding an electric fireplace w/ floor to ceiling tile. Beautiful hardwood floors throughout most of the main level. Kitchen has trendy white cabinets, quartz countertops, & all-new appliances. The master retreat offers a large bedroom w/ built-in closet organizer shelving & a luxurious ensuite bathroom: standing glass shower, stand-alone soaker tub, & tasteful quartz counters and tile flooring. Second bedroom is of ample size and also has built-in closet organizing shelves. Another quality full bath w/ upstairs laundry completes the main level. ILLEGAL BASEMENT SUITE: SEPARATE ENTRANCE, plush carpets throughout, large living room, kitchen, two good sized bedrooms, & full bath; SEPARATE LAUNDRY HOOK-UPS provided. NEW FURNACE & HOT WATER TANK, & NEW UPGRADED ELECTRIC PANEL(200 Amp Service). This home has passed all inspections by the city: electrical, plumbing, & building. Back yard offers a deck, patio, and yard area, and of course a DOUBLE DETACHED GARAGE! LOCATION: steps from bus stop, shopping, and close to schools and main roads such as Deerfoot Trail and Centre Street. Don't let this beautiful oasis slip away, make it yours today!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
Bungalow
Total Living Area:
1,031 sq. ft.
Main Level Finished Area:
1,031 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
856 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,005 sq. ft.
Lot Frontage:
50'1¼"
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:
Levels:
Bi-Level
Total Rooms Above Grade:
2
Year built:
1970 (Age: 54)
Bedrooms:
4 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
2
Bathrooms:
3.0 (Full:3, Half:0)
Plan:
7335JK
Heating:
Forced Air
Basement:
Separate/Exterior Entry, Finished, Full, Suite, Walk-Up To Grade
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Other, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Hardwood, Tile
Cooling:
None
Fireplaces:
1
Fireplace Details:
Electric, Living Room
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Multiple Locations, See Remarks
Thorncliffe
Dishwasher, Dryer, Electric Stove, Garage Control(s), Range Hood, Refrigerator, Washer
None
Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
13'4" × 10'7"
Main Floor
Bedroom
10'11" × 9'11"
Basement
Bedroom
12'10" × 11'11"
Basement
Bedroom
11'7" × 11'3"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
Main Floor
No
4
Basement
No
4
Title to Land:
Fee Simple
Community Features:
Other, Park, Playground, Schools Nearby, Shopping Nearby, Tennis Court(s)
Interior Features:
Built-in Features, Closet Organizers, Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan, Quartz Counters, See Remarks, Separate Entrance, Soaking Tub, Vinyl Windows
Exterior Features:
Other, Private Yard
Patio And Porch Features:
Deck, Patio
Lot Features:
Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone N
Zoning:
R-C1
Listed Date:
Jul 04, 2024
Days on Mkt:
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Listed by Royal LePage METRO
Data was last updated November 10, 2024 at 02:05 PM (UTC)
Area Statistics
Listings on market:
30
Avg list price:
$620,500
Min list price:
$225,000
Max list price:
$887,000
Avg days on market:
25
Min days on market:
2
Max days on market:
136
Avg price per sq.ft.:
$593.32
These statistics are generated based on the current listing's property type and located in Thorncliffe. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706