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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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404 837 2 Avenue SW
Eau Claire Calgary T2P 0E6

$989,000
Residential beds: 2 baths: 2.0 1,725 sq. ft. built: 1999

The luxurious Point on the Bow.
Photo 1: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 2: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 3: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 4: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 5: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 6: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 7: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 8: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 9: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 10: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 11: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 12: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 13: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 14: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 15: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 16: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 17: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 18: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 19: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 20: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 21: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 22: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 23: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 24: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 25: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 26: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 27: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 28: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 29: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 30: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 31: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 32: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 33: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 34: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 35: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 36: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 37: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 38: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 39: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 40: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 41: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 42: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 43: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 44: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 45: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 46: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 47: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 48: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 49: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Photo 50: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2165680
Bedrooms:
2
Bathrooms:
2
Year Built:
1999
Ultra luxury living in the Point on the Bow! Stylish and upgraded home with gorgeous treetop views of Peace Park and the Bow River. Entertaining open floor plan with spacious rooms and bright floor to ceiling windows with plenty of natural light while enhancing the scenic sunset views from the kitchen, dining and living room! Quality tasteful finishing throughout with tile and hardwood floors, granite counter tops, high-end stainless steel appliance package and many great built-ins. You'll enjoy the 2 large covered balconies, 3 gas fireplaces, 2 bedrooms plus den conveniently located next to primary bedroom retreat with 6 pce ensuite spa bathroom that has a jetted-soaker tub, large rock shower stall, bidet, walk-in closet plus great built-ins, separate laundry room with sink and in-suite storage room off entrance with built in vacuum system. Inspired and impressed the moment you enter this outstanding condominium home from the central rock gas fireplace to the beautiful open concept and great privacy floor plan with bedrooms and den separate from living areas on the very quiet east facing end of the home. Comes with convenient titled parking and secure titled storage locker room close to the elevator! Quick possession available. Registered size is 1931 sq ft. The Point on the Bow is a luxury low-density building with only 38 suites, incredible Tropical Atrium Lobby, first-class amenities, full-time concierge service and efficient experienced onsite building manager. The location is extraordinary situated across from Peace Park on quiet no-thru traffic cul-de-sac in West Eau Claire! Outstanding amenities include indoor pool, hot tub, fully equipped fitness room, large social lounge with full kitchen, outdoor garden terrace with gas barbecue, main floor library with billiard table & wet bar, underground visitor parking, car wash bay and beautiful Tropical Atrium Lobby that creates a lush natural garden oasis with extensive ledge stone planters, stone bridge and 2 impressive granite waterfalls with trickle creek ponds! This amazing lifestyle opportunity can be yours with close proximity to the world-class pathway system, beautiful Prince's Island Park, Bow River and Lagoon, Peace Bridge, Shopping, Cinemas, many fine Restaurants and Cafés, Plus 15 Skywalk System, LRT & Transportation and just a short walk to Kensington Shops, Safeway and Calgary's vibrant city center. Time to enjoy the ultimate in downtown urban living!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
High-Rise (5+)
Total Living Area:
1,725 sq. ft.
Main Level Finished Area:
1,725 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$1,704.00
Condo Fee Includes:
Common Area Maintenance, Gas, Heat, Insurance, Interior Maintenance, Reserve Fund Contributions, Residential Manager, Security Personnel, Sewer, Snow Removal, 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:
North
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Northeast
Floor Location:
Other
Entry Level:
4
Stories Total:
17
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
7
Year built:
1999 (Age: 25)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
9910641
Heating:
Hot Water, Natural Gas
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Concrete
Structure Type:
High Rise (5+ stories)
Roof:
Tar/Gravel
Ensuite:
Yes
Flooring:
Hardwood, Tile
Cooling:
Central Air
Fireplaces:
3
Fireplace Details:
Den, Family Room, Gas, Mantle, Primary Bedroom, Stone
Garage:
0
Parking:
Stall, Titled
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit, Laundry Room, Sink
Condo Fee Frequency:
Monthly
Point On The Bow
Eau Claire
Car Wash, Elevator(s), Fitness Center, Indoor Pool, Other, Party Room, Secured Parking, Spa/Hot Tub, Storage, Visitor Parking
Dishwasher, Dryer, Garburator, Gas Stove, Microwave Hood Fan, Refrigerator, Washer, Window Coverings
None
Pet Restrictions or Board approval Required
Yes
Floor
Type
Size
Other
Main Floor
Living Room
14'11" × 14'8"
Main Floor
Dining Room
12'5" × 10'9"
Main Floor
Kitchen
14'5" × 11'2"
Main Floor
Bedroom - Primary
15'10" × 12'1"
Main Floor
Bedroom
10'10" × 10'9"
Main Floor
Den
15'9" × 10'5"
Main Floor
Family Room
11'3" × 10'2"
Main Floor
Laundry
7'5" × 3'8"
Main Floor
Storage
6'8" × 3'4"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
6
Main Floor
No
3
Title to Land:
Fee Simple
Community Features:
Park, Shopping Nearby, Street Lights
Interior Features:
Bookcases, Central Vacuum, Closet Organizers, Granite Counters, Jetted Tub, Recessed Lighting, Walk-In Closet(s)
Exterior Features:
Other
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
DC (pre 1P2007)
Listed Date:
Sep 14, 2024
Days on Mkt:
  • Photo 1: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    The luxurious Point on the Bow.
  • Photo 2: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Beautiful inviting front entrance.
  • Photo 3: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Exceptional full time concierge service.
  • Photo 4: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Incredible lush tropical atrium lobby!
  • Photo 5: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Spacious tile entrance.
  • Photo 6: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Photo 6 of 50
  • Photo 7: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Spacious living areas with central gas fireplace.
  • Photo 8: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Large bright floor-to-ceiling windows.
  • Photo 9: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Scenic views from living areas.
  • Photo 10: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
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  • Photo 11: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
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  • Photo 16: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Photo 16 of 50
  • Photo 17: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Covered balcony off kitchen and living area.
  • Photo 18: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Primary bedroom.
  • Photo 19: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Photo 19 of 50
  • Photo 20: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Covered balcony off primary bedroom.
  • Photo 21: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    6pce ensuite bathroom.
  • Photo 22: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Ensuite bathroom has jetted tub and large shower stall.
  • Photo 23: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Office/Den.
  • Photo 24: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Photo 24 of 50
  • Photo 25: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Guest bedroom.
  • Photo 26: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    3pce main bathroom.
  • Photo 27: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Insuite laundry room with storage.
  • Photo 28: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Underground titled parking and secure storage locker room.
  • Photo 29: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Beautiful common areas.
  • Photo 30: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Incredible tropical atrium lobby with granite waterfalls, ledge-stone planters and seating areas.
  • Photo 31: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Enjoy the Indoor Pool.
  • Photo 32: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Relax in the Hot Tub.
  • Photo 33: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Fully equipped fitness room.
  • Photo 34: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Great gym equipment.
  • Photo 35: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Large Social Lounge with kitchen.
  • Photo 36: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Great for those large or small functions.
  • Photo 37: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Garden terrace off Social Lounge and Pool with BBQ.
  • Photo 38: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Main floor Library with Billiard Table.
  • Photo 39: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Underground Carwash Bay.
  • Photo 40: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Exceptional location on quiet cul-de-sac across from Peace Park.
  • Photo 41: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Amazing pathway system right out your front door!
  • Photo 42: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Next to the beautiful Bow River.
  • Photo 43: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Close to Peace Bridge and just a short walk to Kensington Shops.
  • Photo 44: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Close to outstanding Cafes and Bakeries.
  • Photo 45: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Fine Dining close by.
  • Photo 46: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Close to many great restaurants.
  • Photo 47: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Enjoy the beauty of Prince's Island Park.
  • Photo 48: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Beautiful walking paths in Prince's Island Park.
  • Photo 49: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Close to the LRT and Transportation.
  • Photo 50: 404 837 2 Avenue SW in Calgary: Eau Claire Apartment for sale : MLS®# A2165680
    Enjoy everything this World-Class Downtown community has to offer!
Listed by RE/MAX House of Real Estate
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
38
Avg list price:
$924,950
Min list price:
$299,000
Max list price:
$5,999,000
Avg days on market:
51
Min days on market:
1
Max days on market:
278
Avg price per sq.ft.:
$662.45
These statistics are generated based on the current listing's property type and located in Eau Claire. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706