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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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209 910 18 Avenue SW
Lower Mount Royal Calgary T2T 0H1

$405,500
Residential beds: 2 baths: 2.0 1,149 sq. ft. built: 2005

Main Photo: 209 910 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2172611
Photo 1: 209 910 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2172611
Photo 2: 209 910 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2172611
Photo 3: 209 910 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2172611
Photo 4: 209 910 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2172611
Photo 5: 209 910 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2172611
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Photo 16: 209 910 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2172611
Photo 17: 209 910 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2172611
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Photo 20: 209 910 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2172611
Photo 21: 209 910 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2172611
Photo 22: 209 910 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2172611
Photo 23: 209 910 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2172611
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2172611
Bedrooms:
2
Bathrooms:
2
Year Built:
2005
This beautifully maintained two-bedroom unit on a tree-lined street in the heart of Lower Mount Royal offers executive living in this prime downtown location. Walking distance to trendy 17th Ave restaurants & shops, this property boasts a fantastic layout with two bedrooms and two baths, formal dining room, and a large living room with a corner gas fireplace. With over 1,148 square feet of living space, (one of the largest units) you’ll love the custom features throughout, such as 9-foot ceilings, tile and brazilian hardwood cherry floors. The generous kitchen, features abundant contemporary maple cabinetry, stainless-steel appliances, granite counters, and a large breakfast bar. A huge living and formal dining room area can accomodate the perfect setting, including a bulild in corner gas fireplace. The large primary bedroom offers a huge walk-in closet and private 4pc. ensuite, with a curved soaker tub, and granite counters. The second bedroom is spacious, and excellent for a roommate or home office. An additional 4 pc bath with granite counters is perfect. The added convenience of a gas BBQ line on the balcony & a heated parking stall in the secured underground parkade, complete the highlights of this exceptional condo. The Mantra is a well-maintained and well-managed building, with two elevators and double security doors. Additionally, there is a locked bike storage room, and one of the best parking spots in the building. A fantastic location, one of the largest units, move in ready, all at a great price. Dont miss this one!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Low-Rise(1-4)
Total Living Area:
1,148.87 sq. ft.
Main Level Finished Area:
1,148.87 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$647.00
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Interior Maintenance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash, 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:
South
Reg. Size:
Reg. Size Includes:
Unit Exposure:
North
Floor Location:
Other
Entry Level:
2
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
4
Year built:
2005 (Age: 19)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0513818
Heating:
In Floor
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Carpet, Hardwood
Cooling:
Partial
Fireplaces:
1
Fireplace Details:
Gas
Garage:
0
Parking:
Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Mantra
Lower Mount Royal
Elevator(s)
Dishwasher, Dryer, Electric Stove, Microwave Hood Fan, Refrigerator, Washer
NONE
Pet Restrictions or Board approval Required
Restrictions
Floor
Type
Size
Other
Main Floor
Living/Dining Room Combination
23'9" × 17'2"
Main Floor
Kitchen
8'11" × 8'5"
Main Floor
Bedroom - Primary
14'9" × 12'10"
Main Floor
Bedroom
15'9" × 9'3"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
Main Floor
Yes
4
Title to Land:
Fee Simple
Community Features:
Park, Playground, Pool, Schools Nearby, Shopping Nearby, Sidewalks, Walking/Bike Paths
Interior Features:
Breakfast Bar
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C2
Listed Date:
Oct 11, 2024
Days on Mkt:
  • Photo 1: 209 910 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2172611
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Listed by RE/MAX Realty Professionals
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
27
Avg list price:
$348,000
Min list price:
$183,900
Max list price:
$850,000
Avg days on market:
32
Min days on market:
3
Max days on market:
88
Avg price per sq.ft.:
$406.84
These statistics are generated based on the current listing's property type and located in Lower Mount Royal. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706