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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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512 3500 Varsity Drive NW
Varsity Calgary T2L 1Y3

$359,000
Residential beds: 2 baths: 1.0 1,074 sq. ft. built: 1976

Main Photo: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 1: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 2: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 3: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 4: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 5: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 6: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 7: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 8: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 9: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 10: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 11: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 12: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 13: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 14: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 15: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 16: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 17: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 18: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 19: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 20: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 21: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 22: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 23: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 24: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 25: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 26: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 27: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 28: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Photo 29: 512 3500 Varsity Drive NW in Calgary: Varsity Row/Townhouse for sale : MLS®# A2175609
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2175609
Bedrooms:
2
Bathrooms:
1
Year Built:
1976
Welcome to this delightful 3-storey townhouse, perfectly situated in the lively, sought-after, and award-winning community of Varsity! Featuring 2 cozy bedrooms, 1 office and 1 well-appointed bath, upgraded /renovated windows and closets, this home effortlessly combines comfort and practicality, making it an excellent choice for both savvy investors and first-time homebuyers. A lot of new upgrades waiting for you, 10-year furnace, 5-year hot water tank, 3-year refrigerator, 1-year washer, 5-year Kitchen Cabinets, and brand new floor. The end unit give you more private and lighter feeling. The location is unbeatable, Winston Churchill High School, the Brentwood C-Train station, University of Calgary, and Market Mall. the Varsity Community Association and Outdoor Rink, Varsity Acres School, and numerous parks and green spaces. With easy access to Crowchild Trail, commuting is seamless, further enhancing the appeal of this prime location. Don't let this wonderful opportunity pass you by—schedule your viewing today and discover the charm of living in Varsity!
Property Type:
Residential
Property Sub Type:
Row/Townhouse
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
3 Storey
Total Living Area:
1,074.3 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$278.48
Condo Fee Includes:
Common Area Maintenance, Insurance, Parking, Professional Management, Reserve Fund Contributions, Snow Removal, Trash
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:
West
Reg. Size:
Reg. Size Includes:
Entry Level:
1
Levels:
Three Or More
End Unit:
End Unit
Total Rooms Above Grade:
6
Year built:
1976 (Age: 48)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
7810237
Heating:
Forced Air
Basement:
None
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stucco, Vinyl Siding, Wood Frame
Structure Type:
Five Plus
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Vinyl
Cooling:
Central Air
Fireplaces:
0
Garage:
0
Parking:
Off Street, Stall
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Mclaurin Village
Varsity
Parking, Recreation Facilities, Snow Removal, Visitor Parking
Dryer, Electric Stove, Refrigerator, Washer
None
Board Approval, Pet Restrictions or Board approval Required
Cats OK, Dogs OK
Floor
Type
Size
Other
Main Floor
Office
11'1" × 10'1"
Main Floor
Dining Room
11'3" × 6'9"
Main Floor
Living Room
17' × 11'7"
Main Floor
Kitchen
8'7" × 6'4"
Main Floor
Laundry
8'8" × 7'5"
Main Floor
Balcony
7'6" × 2'6"
2nd Floor
Bedroom - Primary
14'3" × 12'3"
2nd Floor
Balcony
10'1" × 3'10"
2nd Floor
Storage
3'11" × 3'2"
2nd Floor
Bedroom
9'5" × 8'4"
Lower Level
Entrance
5'3" × 3'3"
Floor
Ensuite
Pieces
Other
2nd Floor
No
4
7'6" x 8'
Title to Land:
Fee Simple
Community Features:
Golf, Park, Playground, Schools Nearby, Shopping Nearby
Interior Features:
No Animal Home, No Smoking Home
Exterior Features:
Balcony, Playground
Patio And Porch Features:
Balcony(s)
Lot Features:
Backs on to Park/Green Space, Landscaped, Private
Num. of Parcels:
0
Fencing:
None
Region:
Calgary
Zone:
CAL Zone NW
Zoning:
M-C1 d100
Listed Date:
Oct 30, 2024
Days on Mkt:
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Listed by First Place Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
45
Avg list price:
$429,900
Min list price:
$195,800
Max list price:
$2,390,000
Avg days on market:
27
Min days on market:
5
Max days on market:
215
Avg price per sq.ft.:
$428.59
These statistics are generated based on the current listing's property type and located in Varsity. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706