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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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132 Big Hill Circle SE
Big Springs Airdrie T4A 1R4

$400,000
Residential beds: 3 baths: 2.0 973 sq. ft. built: 1978

Main Photo: 132 Big Hill Circle SE: Airdrie Detached for sale : MLS®# A2173649
Photo 1: 132 Big Hill Circle SE: Airdrie Detached for sale : MLS®# A2173649
Photo 2: 132 Big Hill Circle SE: Airdrie Detached for sale : MLS®# A2173649
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Photo 49: 132 Big Hill Circle SE: Airdrie Detached for sale : MLS®# A2173649
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2173649
Bedrooms:
3
Bathrooms:
2
Year Built:
1978
Discover this charming bi-level home in Airdrie’s serene Big Springs neighborhood, offering over 1,700 square feet of thoughtfully developed living space. The expansive kitchen, a culinary enthusiast’s dream, boasts abundant counter and cupboard space, perfect for hosting family gatherings. The main level features two generously sized bedrooms and a well-appointed 3-piece bathroom. Descend to the fully developed basement to find a spacious family room adorned with a cozy wood-burning fireplace, an additional bedroom, and a luxurious 3-piece bathroom complete with an oversized jetted tub. Practicality meets convenience with a sizable utility and laundry room. Situated in a low-traffic area, this home is within walking distance to arenas, Genesis Place, a variety of restaurants, schools, and playgrounds, making it an ideal choice for families and first-time buyers alike. Don’t miss the opportunity to make this well-maintained property your new home; schedule a viewing today and experience its charm firsthand.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bi-Level
Total Living Area:
973 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
4,999 sq. ft.
Lot Frontage:
50'
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:
Levels:
Bi-Level
Total Rooms Above Grade:
4
Year built:
1978 (Age: 46)
Bedrooms:
3 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
1
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
7711562
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Hardwood, Laminate
Cooling:
None
Fireplaces:
1
Fireplace Details:
Wood Burning
Garage:
0
Parking:
Parking Pad
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement
Big Springs
Dishwasher, Dryer, Microwave, Range Hood, Refrigerator, Stove(s), Washer, Window Coverings
None
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
21'2" × 11'4"
Main Floor
Living Room
17'3" × 11'4"
Main Floor
Bedroom - Primary
15'4" × 11'3"
Main Floor
Bedroom
11'4" × 9'5"
Basement
Game Room
20'7" × 13'6"
Basement
Laundry
14'10" × 7'
Basement
Bedroom
14'8" × 9'6"
Basement
Storage
9'7" × 5'11"
Floor
Ensuite
Pieces
Other
Main Floor
No
3
7'2" x 8'7"
Basement
No
3
9'1" x 10'8"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Jetted Tub, See Remarks
Exterior Features:
Private Yard
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Landscaped, Level, Rectangular Lot, Treed
Num. of Parcels:
0
Fencing:
Fenced
Region:
Airdrie
Zoning:
DC-16-C
Listed Date:
Nov 01, 2024
Days on Mkt:
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Listed by eXp Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
377
Avg list price:
$599,900
Min list price:
$200,000
Max list price:
$1,749,900
Avg days on market:
37
Min days on market:
1
Max days on market:
254
Avg price per sq.ft.:
$360.94
These statistics are generated based on the current listing's property type and located in Airdrie. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706