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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.

  3. Email Address: Reach out to me at Diane for any inquiries or to request additional information.

  4. Live Chat: Utilize the live chat feature on my website for real-time communication and immediate answers to your questions.

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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7 Cimarron Estates Manor
Cimarron Estates Okotoks T1S 0J8

$1,049,900
Residential beds: 4 baths: 3.0 2,739 sq. ft. built: 2013

Main Photo: 7 Cimarron Estates Manor: Okotoks Detached for sale : MLS®# A2176742
Photo 1: 7 Cimarron Estates Manor: Okotoks Detached for sale : MLS®# A2176742
Photo 2: 7 Cimarron Estates Manor: Okotoks Detached for sale : MLS®# A2176742
Photo 3: 7 Cimarron Estates Manor: Okotoks Detached for sale : MLS®# A2176742
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Photo 5: 7 Cimarron Estates Manor: Okotoks Detached for sale : MLS®# A2176742
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Photo 49: 7 Cimarron Estates Manor: Okotoks Detached for sale : MLS®# A2176742
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2176742
Bedrooms:
4
Bathrooms:
3
Year Built:
2013
This IMMACULATE home shows like a SHOWHOME, sits on a 1/4 acre lot and deserves your attention! This home is steps away from the Sheep River with all it's interconnecting pathway system and walking distance to St. Mary's Elementary, the Catholic Junior High School and all the shopping in east Okotoks! . The large bright entry with 18' ceilings will take your breath away and you will love the front den next to the spacious entry, as well as the bright living room with large windows and a beautiful feature wall with built in shelves and gas fireplace. The kitchen is absolutely every CHEF'S dream with spacious island, quartz countertops, upgraded appliances including your 6-burner bertazzoni gas stove, upgraded cabinets, and walk-through pantry. The dining area is bright and spacious, with oversized windows, and exits out to the 3-season sun room which features beautiful lighting, radiant heating, electricity/cable, gas line to the barbeque and ceiling fan. Upstairs features 4 bedrooms: 3 large children's bedrooms with corner shelves and large closets plus the master bedroom which is HUGE and comes with a large walk-in closet, a gorgeous en suite featuring a spa air tub, custom built shower, and double sinks in the vanity. The oversized double garage comes with hot & cold water taps and an abundance of shelving. The basement is ready for your creativity and comes with a radon reduction system. Wait until you go outside and see the HUGE backyard which is fully landscaped with well-established trees, shrubs, garden beds, underground sprinklers PLUS a huge patio and beautiful firepit area that's perfect for entertaining your friends! You will love this community with block parties in the summer and easy walking distance to downtown to enjoy all the festivities Okotoks has to offer!
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:
2,738.86 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
11,509 sq. ft.
Lot Frontage:
66'4"
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:
East
Reg. Size:
Reg. Size Includes:
Floor Location:
Ground
Levels:
Two
Total Rooms Above Grade:
9
Year built:
2013 (Age: 11)
Bedrooms:
4 (Above Grd: 4)
Bedrooms Above Grade:
4
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
1113650
Heating:
Fireplace(s), Forced Air, Natural Gas
Basement:
Full, Unfinished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Cement Fiber Board, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Hardwood, Tile
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Laundry Room, Main Level
Cimarron Estates
Central Air Conditioner, Dishwasher, Dryer, Garage Control(s), Gas Stove, Microwave, Range Hood, Refrigerator, Washer, Water Softener, Window Coverings
N/A
None Known
Floor
Type
Size
Other
Main Floor
Foyer
10'6" × 10'4"
Main Floor
Den
14'8" × 13'
Main Floor
Living Room
15'4" × 15'
Main Floor
Kitchen
21'5" × 14'7"
Main Floor
Dining Room
13'5" × 7'
Main Floor
Laundry
9'3" × 7'4"
Main Floor
Mud Room
14'10" × 8'10"
Upper Level
Bedroom - Primary
15'7" × 13'7"
Upper Level
Bedroom
13' × 10'7"
Upper Level
Bedroom
13' × 12'9"
Upper Level
Bedroom
12'11" × 12'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
Upper Level
Yes
5
14'10" x 11'
Upper Level
No
4
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Breakfast Bar, Ceiling Fan(s), Granite Counters, Kitchen Island, No Smoking Home, Open Floorplan, Pantry, Sump Pump(s), Vinyl Windows
Exterior Features:
BBQ gas line, Dog Run, Fire Pit, Private Yard
Patio And Porch Features:
Deck, Enclosed, Screened
Lot Features:
Back Yard, Cul-De-Sac, Dog Run Fenced In, Fruit Trees/Shrub(s), Few Trees, Landscaped, Underground Sprinklers, Private, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Foothills County
Zoning:
R-1
Listed Date:
Nov 01, 2024
Days on Mkt:
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Listed by RE/MAX Complete Realty
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
94
Avg list price:
$649,950
Min list price:
$215,000
Max list price:
$3,995,000
Avg days on market:
34
Min days on market:
3
Max days on market:
253
Avg price per sq.ft.:
$383.65
These statistics are generated based on the current listing's property type and located in Okotoks. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706