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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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279 Rivercrest Way
Rivercrest Cochrane T4C 3E9

$769,461
Residential beds: 3 baths: 3.0 2,167 sq. ft. built: 2025

Main Photo: 279 Rivercrest Way: Cochrane Detached for sale : MLS®# A2173806
Photo 1: 279 Rivercrest Way: Cochrane Detached for sale : MLS®# A2173806
Photo 2: 279 Rivercrest Way: Cochrane Detached for sale : MLS®# A2173806
Photo 3: 279 Rivercrest Way: Cochrane Detached for sale : MLS®# A2173806
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2173806
Bedrooms:
3
Bathrooms:
3
Year Built:
2025
** Broadview Homes builder discount of $60,000.00 has been deducted from the listing price! ** Welcome home to the Stonebrook Prairie by Broadview Homes; a stunning contemporary home boasting over 2167 SqFt throughout the main and upper levels. This gorgeous brand new home has an expansive living space and a welcoming open floor plan. The spectacular chef's kitchen is outfitted with granite countertops, soft close cabinetry, 42 inch upper cabinets with crown molding to the ceiling and stainless steel appliances including a gas range and built in microwave! The walkthrough pantry connects the kitchen to the mud room off the interior garage door for an easy grocery drop. The dining area is ready for a large dinner table to enjoy meals with your family. The large great room features a gas tiled fireplace for both comfort and style. The main level is complete with a 2pc powder room. Upstairs holds 3 bedrooms, 2 full bathrooms, a bonus room and laundry room. The primary bedroom is personal oasis; with a large spa-like 5pc ensuite bath and walk-in closet. The 5pc ensuite has dual vanities, a deep soaking tub, walk-in shower and private washing closet. Bedrooms 2 & 3 are both generous in size and share the main 4pc bathroom with a tub/shower combo. The bonus room is a great addition to your family seating for a relaxing evening. The upper level laundry room is every home owner's dream as its located near all bedrooms. Downstairs, the basement has 9Ft ceilings and rough-in plumbing. This home has a 200 AMP electrical panel and 2 stage furnace. Featuring a 3-car Garage, this home has room for all your toys as well! Broadview offers fine granite in kitchen and baths, a wide selection of durable maple Hardwood & LVP flooring, tile flooring in all wet areas, superior Carpet, Pot Lights in Kitchen, High-quality Cabinetry from Wildwood Cabinets! Hurry and book your showing at your brand new Broadview Home today!
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:
2,167 sq. ft.
Main Level Finished Area:
997 sq. ft.
Upper Level Finished Area:
1,170 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
3,838 sq. ft.
Lot Frontage:
33'11⅞"
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:
5
Year built:
2025 (Age: -)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
2312451
Heating:
Forced Air
Basement:
Full, Unfinished
Foundation:
Poured Concrete
New Constr.:
Yes
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Vinyl
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas, Great Room
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached, Driveway, Garage Faces Front, On Street
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Laundry Room, Upper Level
Rivercrest
Dishwasher, Garage Control(s), Range Hood, Refrigerator, Stove(s)
N/A
None Known
Floor
Type
Size
Other
Main Floor
Breakfast Nook
14' × 10'
Main Floor
Great Room
14'6" × 14'
Main Floor
Pantry
0' × 0'
Upper Level
Bedroom - Primary
14'8" × 14'6"
Upper Level
Walk-In Closet
0' × 0'
Upper Level
Laundry
0' × 0'
Upper Level
Bonus Room
14'6" × 12'4"
Upper Level
Bedroom
11' × 9'4"
Upper Level
Bedroom
11'4" × 9'4"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
0' x 0'
Upper Level
Yes
5
0' x 0'
Upper Level
No
5
0' x 0'
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Double Vanity, Granite Counters, High Ceilings, Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan, Pantry, Recessed Lighting, Soaking Tub, Walk-In Closet(s)
Exterior Features:
Lighting, Rain Gutters
Patio And Porch Features:
None
Lot Features:
Back Yard, Lawn, Interior Lot, Street Lighting, Rectangular Lot
Num. of Parcels:
0
Fencing:
None
Region:
Rocky View County
Zoning:
R-1
Listed Date:
Oct 25, 2024
Days on Mkt:
  • Photo 1: 279 Rivercrest Way: Cochrane Detached for sale : MLS®# A2173806
    Photo 1 of 3
  • Photo 2: 279 Rivercrest Way: Cochrane Detached for sale : MLS®# A2173806
    Photo 2 of 3
  • Photo 3: 279 Rivercrest Way: Cochrane Detached for sale : MLS®# A2173806
    Photo 3 of 3
Listed by RE/MAX Crown
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
188
Avg list price:
$659,900
Min list price:
$249,900
Max list price:
$1,375,000
Avg days on market:
34
Min days on market:
1
Max days on market:
399
Avg price per sq.ft.:
$370.65
These statistics are generated based on the current listing's property type and located in Cochrane. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706