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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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412 19661 40 Street SE
Seton Calgary T3M 3H3

$400,000
Residential beds: 2 baths: 2.0 890 sq. ft. built: 2020

Main Photo: 412 19661 40 Street SE in Calgary: Seton Apartment for sale : MLS®# A2165600
Photo 1: 412 19661 40 Street SE in Calgary: Seton Apartment for sale : MLS®# A2165600
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2165600
Bedrooms:
2
Bathrooms:
2
Year Built:
2020
Experience the best location in the building with this pristine southwest facing penthouse corner unit. This two bedroom, two bathroom condo offers breathtaking mountain peak views and effortless, turnkey living at its finest. The open-concept design showcases high-end finishes, including quartz countertops throughout and air-conditioning for year-round comfort. The wrap-around balcony, equipped with a BBQ gas line, is the perfect spot to enjoy both sunrises and sunsets. Additional highlights include two titled parking stalls and two titled storage units—one conveniently located at the end of a parking space and the other in a separate storage area. Ideally located near all amenities, this move-in ready suite is immaculate and truly an exceptional find.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Low-Rise(1-4)
Total Living Area:
890.19 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$614.61
Condo Fee Includes:
Common Area Maintenance, Gas, Heat, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Sewer, Water
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:
North
Reg. Size:
Reg. Size Includes:
Unit Exposure:
South, West
Floor Location:
Top
Entry Level:
4
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
6
Year built:
2020 (Age: 4)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
1910799
Heating:
Baseboard
Builder:
Rohit Communities
New Constr.:
No
Construction Material:
Brick, Composite Siding, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Roof:
Rubber
Ensuite:
Yes
Flooring:
Ceramic Tile, Laminate
Cooling:
Central Air
Fireplaces:
0
Garage:
0
Garage Spaces:
2
Parking:
Heated Garage, Parkade, Titled
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Z-name Not Listed
Seton
Elevator(s), Visitor Parking
Central Air Conditioner, Dishwasher, Electric Stove, Garage Control(s), Microwave Hood Fan, Refrigerator, Washer/Dryer, Window Coverings
FOBS and Keys
Easement Registered On Title, Restrictive Covenant
Restrictions, Cats OK, Dogs OK
Floor
Type
Size
Other
Main Floor
Bedroom
10' × 9'11"
Main Floor
Dining Room
14'1" × 7'3"
Main Floor
Foyer
8'6" × 7'6"
Main Floor
Kitchen
14'1" × 10'6"
Main Floor
Living Room
12'5" × 10'5"
Main Floor
Bedroom - Primary
11'2" × 10'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5' x 7'10"
Main Floor
Yes
5
7'11" x 8'1"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Street Lights
Interior Features:
Breakfast Bar, Closet Organizers, Quartz Counters
Exterior Features:
Balcony, BBQ gas line
Patio And Porch Features:
Balcony(s), Wrap Around
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
M-2
Listed Date:
Sep 14, 2024
Days on Mkt:
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Virtual Tour

Listed by Sotheby's International Realty Canada
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
89
Avg list price:
$474,900
Min list price:
$250,000
Max list price:
$1,187,900
Avg days on market:
26
Min days on market:
4
Max days on market:
156
Avg price per sq.ft.:
$426.07
These statistics are generated based on the current listing's property type and located in Seton. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706