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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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108 Cimarron Estates Drive
Cimarron Estates Okotoks T1S 0R1

$1,100,000
Residential beds: 3 baths: 3.0 2,457 sq. ft. built: 2024

Main Photo: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 1: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 2: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 3: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 4: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 5: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 6: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 7: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 8: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 9: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 10: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 11: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 12: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 13: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 14: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 15: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 16: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 17: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 18: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 19: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 20: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 21: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 22: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 23: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 24: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 25: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 26: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 27: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 28: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 29: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 30: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 31: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 32: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 33: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 34: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 35: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 36: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 37: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 38: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 39: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 40: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Photo 41: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2157395
Bedrooms:
3
Bathrooms:
3
Year Built:
2024
An incredible opportunity to own a brand-new estate home in Cimarron Estates! Nestled in the heart of the community this home is set upon a spacious 1/3 acre walkout lot, within walking distance to nearby amenities. This meticulously designed home is perfect for a growing family or those seeking a comfortable downsizing option, featuring nearly 2,500 square feet of living space, 3 bedrooms, 3.5 bathrooms, 2 living areas, a home office, and a triple attached garage. The main level offers a gourmet kitchen that overlooks the dining and main living area, complete with an open-to-below ceiling from the second level. The kitchen features an impressing appliance package, including a gas cooktop, chimney hood fan, built-in wall oven & microwave and a full pantry adds additional storage and convenience for daily living. The main level is completed by a large mudroom with ample storage space, a 2-piece powder room, and a front den ideal for a home office. The upper level offers a spacious bonus room, an expansive primary bedroom that overlooks the backyard with a luxurious ensuite featuring dual sinks, freestanding soaker tub, and a walk-in shower. Two additional bedrooms, a full bathroom, and a laundry room round out the upper level. This property is perfect for those looking to downsize in an estate area without compromising on space, style or land. This brand-new home provides a luxurious lifestyle both inside and out - from the hardie board exterior to the hardwood throughout the main living space, this brand new home is currently under construction and will be move-in ready in soon. Interior selections for finishing can be shared upon request. Photos are taken from a past property and not an exact representation of the home for sale.
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:
2,457 sq. ft.
Main Level Finished Area:
1,104 sq. ft.
Upper Level Finished Area:
1,353 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
13,530 sq. ft.
Lot Frontage:
66'2½"
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:
West
Reg. Size:
Reg. Size Includes:
Levels:
Two
Total Rooms Above Grade:
8
Year built:
2024 (Age: 0)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
0
Heating:
Fireplace(s), Forced Air, Natural Gas
Basement:
Full, Unfinished, Walk-Out To Grade
Foundation:
Poured Concrete
New Constr.:
Yes
Construction Material:
Cement Fiber Board, Stone
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
None
Fireplaces:
2
Fireplace Details:
Electric, Gas
Garage:
1
Garage Spaces:
3
Parking:
Triple Garage Attached
Parking Places:
6.0
Parking Total/Covered:
6 / -
Laundry Features:
Upper Level
Cimarron Estates
Dishwasher, Gas Cooktop, Microwave, Oven-Built-In, Range Hood, Refrigerator
None
None Known
Floor
Type
Size
Other
Main Floor
Great Room
15' × 14'
Main Floor
Dining Room
13' × 10'3"
Main Floor
Kitchen
13'1" × 9'6"
Main Floor
Den
11' × 9'6"
Upper Level
Bonus Room
14'1" × 13'
Upper Level
Bedroom - Primary
16'1" × 12'8"
Upper Level
Bedroom
11' × 10'
Upper Level
Bedroom
11' × 10'8"
Upper Level
Laundry
0 × 0
Floor
Ensuite
Pieces
Other
Main Floor
No
2
Upper Level
No
5
Upper Level
No
4
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Double Vanity, High Ceilings, Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan, Pantry, Quartz Counters, Recessed Lighting, Separate Entrance, Stone Counters, Storage, Vaulted Ceiling(s), Vinyl Windows, Walk-In Closet(s)
Exterior Features:
Private Entrance, Private Yard
Patio And Porch Features:
Deck, Patio
Lot Features:
Back Yard, Front Yard, No Neighbours Behind
Num. of Parcels:
0
Fencing:
Partial
Region:
Foothills County
Zoning:
TN
Listed Date:
Aug 16, 2024
Days on Mkt:
  • Photo 1: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Photo 1 of 41
  • Photo 2: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Photo 2 of 41
  • Photo 3: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Plot plan
  • Photo 4: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Main level floor plan
  • Photo 5: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Open concept main level
  • Photo 6: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Double volume space in the living room
  • Photo 7: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Double volume space in the living room
  • Photo 8: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Stuning kitchen designs available
  • Photo 9: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Kitchen open to the dinging and living rooms
  • Photo 10: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Large kitchen island
  • Photo 11: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Access to pantry and mudroom
  • Photo 12: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Access to pantry and mudroom
  • Photo 13: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Stainless-steel appliances
  • Photo 14: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Ideal kitchen layout with ample cooking and prep space
  • Photo 15: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Open to dining area
  • Photo 16: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Photo 16 of 41
  • Photo 17: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Open to living room
  • Photo 18: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Large living room with wall of windows and gas fireplace
  • Photo 19: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Double volume living room with large windows
  • Photo 20: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Gas fireplace
  • Photo 21: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Photo 21 of 41
  • Photo 22: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Photo 22 of 41
  • Photo 23: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Font office
  • Photo 24: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    2 pc powder room
  • Photo 25: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    2 pc powder room
  • Photo 26: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    View from above into living room
  • Photo 27: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Upper level floor plan
  • Photo 28: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Primary suite
  • Photo 29: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Primary suite
  • Photo 30: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Primary suite
  • Photo 31: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Primary suite
  • Photo 32: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Soaker tub and walk-in shower
  • Photo 33: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Dual sinks
  • Photo 34: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    2nd bedroom
  • Photo 35: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    4 Ppc bathroom
  • Photo 36: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    3rd bedroom
  • Photo 37: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Bonus room
  • Photo 38: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Bonus room
  • Photo 39: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Community photos
  • Photo 40: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Community photos
  • Photo 41: 108 Cimarron Estates Drive: Okotoks Detached for sale : MLS®# A2157395
    Community photos
Listed by Charles
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