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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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  2. Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

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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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1827 43 Street SE
Forest Lawn Calgary T2B 1H1

$525,000
Residential beds: 1 baths: 1.0 857 sq. ft. built: 1957

Main Photo: 1827 43 Street SE in Calgary: Forest Lawn Detached for sale : MLS®# A2158481
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2158481
Bedrooms:
1
Bathrooms:
1
Year Built:
1957
MC-1 LOT | 50 x 121 FOOT LOT | Development Opportunity | Attention builders and developers! This is a rare opportunity to acquire a prime piece of MC-1 land in the bustling city of Calgary, with the potential for multi-family development. Located just a minute walk away from the vibrant 17th Avenue, one of Calgary’s most dynamic and amenity-rich areas. Enjoy easy access to a plethora of shops, restaurants, cafes, and essential services, all just a short walk away! With the ongoing development and revitalization of the surrounding area, this property is a solid investment opportunity with potential for growth.
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:
857 sq. ft.
Main Level Finished Area:
857 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
6,092 sq. ft.
Lot Frontage:
49'11½"
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:
One
Total Rooms Above Grade:
1
Year built:
1957 (Age: 67)
Bedrooms:
1 (Above Grd: 1)
Bedrooms Above Grade:
1
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
1883GR
Heating:
Forced Air
Basement:
Full, Unfinished
Foundation:
See Remarks
New Constr.:
No
Construction Material:
Vinyl Siding
Structure Type:
House
Roof:
Asphalt
Ensuite:
No
Flooring:
See Remarks
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
3
Parking:
Triple Garage Detached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
None
Forest Lawn
None
n/a
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
12'1" × 11'4"
Floor
Ensuite
Pieces
Other
Main Floor
No
3
7'9" x 4'11"
Title to Land:
Fee Simple
Community Features:
Playground, Schools Nearby, Shopping Nearby
Interior Features:
See Remarks
Exterior Features:
None
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Back Yard, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone E
Zoning:
M-C1
Listed Date:
Aug 17, 2024
Days on Mkt:
  • Photo 1: 1827 43 Street SE in Calgary: Forest Lawn Detached for sale : MLS®# A2158481
    Photo 1 of 1
Listed by URBAN-REALTY.ca
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
19
Avg list price:
$319,000
Min list price:
$159,900
Max list price:
$900,000
Avg days on market:
36
Min days on market:
4
Max days on market:
409
Avg price per sq.ft.:
$533.38
These statistics are generated based on the current listing's property type and located in Forest Lawn. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706