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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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NEXT Open House details
Nov 17, 2024 02:00 PM - 04:00 PM MST

1107 8710 Horton Road
Haysboro Calgary T2P 0V7

$359,000
Residential beds: 2 baths: 2.0 974 sq. ft. built: 2008

Main Photo: 1107 8710 Horton Road in Calgary: Haysboro Apartment for sale : MLS®# A2175142
Photo 1: 1107 8710 Horton Road in Calgary: Haysboro Apartment for sale : MLS®# A2175142
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Photo 39: 1107 8710 Horton Road in Calgary: Haysboro Apartment for sale : MLS®# A2175142
Open House - Nov 17, 2024
02:00 PM - 04:00 PM MST
NOTES: Open House on Sunday, November 17, 2024 2:00PM - 4:00PM
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2175142
Bedrooms:
2
Bathrooms:
2
Year Built:
2008
**OPEN HOUSE, Sunday, Nov. 17, 2-4 p.m.*** Welcome to style, comfort and convenience of the quiet, secure London at Heritage Station building. This beautiful two bedroom, two bath unit has been tastefully upgraded within the past year with professionally installed vinyl plank laminate ($8,000 cost); and bright paint ($6,600) throughout. As well, the owners have installed their own air conditioning unit ($7,900) to set you up for comfort during the heat of the summer months. As well, a professionally installed money-saving on-demand Rinnai water heater was installed at a cost of $8,300. The spacious, tiled entry brings you into an open concept home that has nine-foot ceilings and a spacious, bright living room that is perfect for a relaxing evening above the hustle and bustle of the world. The eat-in kitchen features granite countertops, plenty of cabinet space and room for two barstools so you can visit with guests as you prepare dinner. The bright primary bedroom has the privacy of a spacious ensuite and is mere steps from the unit's washer/dryer. This building has a concierge and security team, three elevators, a social room and rooftop patio on the 17th floor. You can walk through the heated garage to Save On Foods, Tim Hortons or many of the nearby restaurants and services. Walk to the Heritage C-Train station (visible from your home) or gain quick driving access to McLeod Trail. from a heated, underground parking garage.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
High-Rise (5+)
Total Living Area:
974.5 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$569.00
Condo Fee Includes:
Common Area Maintenance, Insurance, Parking, Professional Management, Reserve Fund Contributions, Residential Manager, Security Personnel, Snow Removal
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:
South
Reg. Size:
Reg. Size Includes:
Unit Exposure:
North
Floor Location:
Other
Entry Level:
11
Stories Total:
21
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
6
Year built:
2008 (Age: 16)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0812824
Heating:
Hot Water, Natural Gas
New Constr.:
No
Construction Material:
Brick, Concrete
Structure Type:
High Rise (5+ stories)
Ensuite:
Yes
Flooring:
Ceramic Tile, Vinyl Plank
Cooling:
Central Air
Fireplaces:
0
Garage:
0
Parking:
Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
London at Heritage Station
Haysboro
Elevator(s), Parking, Party Room, Secured Parking, Visitor Parking
Dishwasher, Electric Stove, Microwave Hood Fan, Refrigerator, Washer/Dryer, Window Coverings
None
Pet Restrictions or Board approval Required
Yes
Floor
Type
Size
Other
Main Floor
Foyer
6'11" × 6'10"
Main Floor
Dining Room
11'3" × 8'9"
Main Floor
Living Room
18' × 11'3"
Main Floor
Kitchen With Eating Area
12' × 9'6"
Main Floor
Laundry
3'8" × 3'4"
Main Floor
Bedroom
11'2" × 0'8"
Main Floor
Bedroom - Primary
14'7" × 10'11"
Main Floor
Balcony
11' × 5'8"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
11'11" x 4'11"
Main Floor
Yes
4
8'3" x 4'11"
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby
Interior Features:
Breakfast Bar, No Animal Home, No Smoking Home
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone S
Zoning:
C-C2
Listed Date:
Nov 07, 2024
Days on Mkt:
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Listed by Real Broker
Data was last updated November 14, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
33
Avg list price:
$349,900
Min list price:
$210,000
Max list price:
$995,000
Avg days on market:
36
Min days on market:
5
Max days on market:
103
Avg price per sq.ft.:
$367.83
These statistics are generated based on the current listing's property type and located in Haysboro. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706