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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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2409 12 Cimarron Common
Cimarron Okotoks T1S 2G1

$299,900
Residential beds: 2 baths: 2.0 843 sq. ft. built: 2004

Main Photo: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 1: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 2: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 3: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 4: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 5: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 6: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 7: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 8: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 9: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 10: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 11: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 12: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 13: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 14: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 15: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 16: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 17: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Photo 18: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2161832
Bedrooms:
2
Bathrooms:
2
Year Built:
2004
TOP FLOOR north facing 2 bed 2 bath condo in the desirable Cimarron Common development. This condo unit benefits from an underground titled parking stall. In summer, you can bbq on the north facing covered deck. Note the in-suite laundry and 4 piece ensuite with good clothes storage in the walk thru closet. The condo is wonderfully located close to the walk in clinic, and many shops and services including Sobeys and Canadian Tire. Condo fees include all utilities: power, gas and water so that you get to keep more of your money once the condo fees are paid! Don't miss out on this one. Immediate possession possible. Bring your decorating ideas to make this top floor condo your own,
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:
842.82 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$504.30
Condo Fee Includes:
Common Area Maintenance, Electricity, Gas, Heat, Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash
HOA Fee Includes:
Lot Area:
0 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:
North
Reg. Size:
Reg. Size Includes:
Unit Exposure:
North
Floor Location:
Top
Entry Level:
4
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
2004 (Age: 20)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0411494
Heating:
Baseboard
New Constr.:
No
Construction Material:
Vinyl Siding
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Carpet, Laminate, Linoleum
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Parkade
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Z-name Not Listed
Cimarron
Bicycle Storage, Elevator(s), Visitor Parking
Dishwasher, Dryer, Electric Range, Range Hood, Refrigerator, Washer
NONE
None Known
Call
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
11'2" × 10'7"
Main Floor
Bedroom
11'10" × 10'1"
Main Floor
Kitchen
11' × 9'2"
Main Floor
Laundry
0 × 0
Main Floor
Dining Room
11'10" × 9'6"
Main Floor
Living Room
14'1" × 11'10"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
Main Floor
No
4
Title to Land:
Fee Simple
Community Features:
Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Open Floorplan
Exterior Features:
Balcony
Patio And Porch Features:
Deck
Num. of Parcels:
0
Region:
Foothills County
Zoning:
NC
Listed Date:
Aug 30, 2024
Days on Mkt:
  • Photo 1: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Photo 1 of 18
  • Photo 2: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Dining Area
  • Photo 3: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Dining Area
  • Photo 4: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Kitchen
  • Photo 5: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Kitchen
  • Photo 6: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Kitchen
  • Photo 7: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Living Room
  • Photo 8: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Living Room
  • Photo 9: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Primary Bedroom
  • Photo 10: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Primary Bedroom
  • Photo 11: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Ensuite and closet
  • Photo 12: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Main Bathroom
  • Photo 13: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Balcony
  • Photo 14: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Bedroom 2
  • Photo 15: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Bedroom 2
  • Photo 16: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Laundry
  • Photo 17: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Parking stall
  • Photo 18: 2409 12 Cimarron Common: Okotoks Apartment for sale : MLS®# A2161832
    Parking Stall
Listed by Prairie Management & Realty Inc.
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
109
Avg list price:
$658,500
Min list price:
$265,000
Max list price:
$3,995,000
Avg days on market:
17
Min days on market:
1
Max days on market:
200
Avg price per sq.ft.:
$410.75
These statistics are generated based on the current listing's property type and located in Okotoks. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706