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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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1402 4 Street NW
Crescent Heights Calgary T2M 2Y9

$1,199,900
Residential beds: 2 baths: 2.0 1,108 sq. ft. built: 1942

2Semi Detached
Photo 1: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 2: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 3: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 4: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 5: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 6: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 7: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 8: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 9: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 10: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 11: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 12: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 13: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 14: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 15: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 16: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 17: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 18: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
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Photo 20: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 21: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 22: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 23: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 24: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 25: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
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Photo 34: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 35: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 36: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 37: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 38: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 39: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Photo 40: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2152511
Bedrooms:
2
Bathrooms:
2
Year Built:
1942
Welcome to this vibrant inner city community - Crescent Heights. RC-G corner lot 50X142. Attention Investors and Developers R-CG is a residential designation that is primarily for row housing/townhouses but also allows for single detached, side-by-side and duplex homes that may include a secondary suite. fantastic location just 10 minutes to downtown. There is an oversized heated double garage and RV parking or room for 3 other vehicles. There is also another storage shed and a greenhouse. The 5 bedroom/2 bathroom home has a developed basement. This is an amazing opportunity to get into a neighborhood with excellent parks and greenspace in a super quiet location. Close to all amenities including SAIT, public transportation, shopping, schools, and 5 minutes to Crowchild trail, Deerfoot trail and only 15 minutes to the airport! ***RENTED FOR $2800 A MONTH***
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bungalow
Total Living Area:
1,108 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
7,104 sq. ft.
Lot Frontage:
50'
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:
One
Total Rooms Above Grade:
4
Year built:
1942 (Age: 82)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
3946N
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
None
Fireplaces:
1
Fireplace Details:
Electric
Garage:
1
Garage Spaces:
2
Parking:
Triple Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement
Crescent Heights
Electric Stove, Microwave Hood Fan, Refrigerator, Washer/Dryer
N/A
None Known
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
13' × 12'4"
Main Floor
Living Room
17'11" × 13'4"
Main Floor
Bedroom
10'10" × 10'6"
Main Floor
Kitchen
12'7" × 10'2"
Basement
Office
13'3" × 11'6"
Basement
Storage
6'8" × 3'9"
Basement
Game Room
13'3" × 11'6"
Basement
Den
11'6" × 10'8"
Basement
Laundry
10'5" × 9'
Basement
Furnace/Utility Room
12'10" × 5'8"
Floor
Ensuite
Pieces
Other
Main Floor
No
3
10'2" x 12'7"
Basement
No
3
6'4" x 6'
Title to Land:
Fee Simple
Community Features:
Fishing, Park, Playground, Schools Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
See Remarks
Exterior Features:
Other
Patio And Porch Features:
None
Lot Features:
Back Lane, Back Yard, City Lot, Corner Lot, Fruit Trees/Shrub(s)
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
R-CG
Listed Date:
Jul 25, 2024
Days on Mkt:
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    2Semi Detached
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    Existing Site Plan
  • Photo 3: 1402 4 Street NW in Calgary: Crescent Heights Detached for sale : MLS®# A2152511
    Proposed Site Plans for 2 Semi
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Listed by Creekside Realty
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
41
Avg list price:
$475,000
Min list price:
$189,900
Max list price:
$2,498,000
Avg days on market:
42
Min days on market:
3
Max days on market:
163
Avg price per sq.ft.:
$495.38
These statistics are generated based on the current listing's property type and located in Crescent Heights. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706