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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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141 Spring Haven Mews SE
Big Springs Airdrie T4A 1A8

$399,900
Residential beds: 4 baths: 3.0 1,098 sq. ft. built: 1980

Main Photo: 141 Spring Haven Mews SE: Airdrie Detached for sale : MLS®# A2178164
Photo 1: 141 Spring Haven Mews SE: Airdrie Detached for sale : MLS®# A2178164
Photo 2: 141 Spring Haven Mews SE: Airdrie Detached for sale : MLS®# A2178164
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Photo 33: 141 Spring Haven Mews SE: Airdrie Detached for sale : MLS®# A2178164
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2178164
Bedrooms:
4
Bathrooms:
3
Year Built:
1980
Welcome to this beautiful home nestled in the sought-after community of Big Springs. Four bedrooms and three bathrooms. Perfect for the growing family. Walk to school and walk to shopping. The west-facing backyard looks onto a large greenspace. The full sized, concrete lower level is mostly developed with plenty of storage. Located on a quiet cul-de-sac, this well maintained house is family ready. And it has central air conditioning! After a busy day at work, relax under the pergola on your deck and enjoy a coffee and the greenspace. ALL OF THIS FOR UNDER $400K.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Modular Home
Total Living Area:
1,098 sq. ft.
Main Level Finished Area:
1,098 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
918 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,428 sq. ft.
Lot Frontage:
24'8"
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:
Unit Exposure:
East
Levels:
One
Total Rooms Above Grade:
5
Year built:
1980 (Age: 44)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
7711564
Heating:
Forced Air, Natural Gas
Basement:
Full, Partially Finished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Linoleum
Cooling:
Central Air
Fireplaces:
0
Garage:
0
Parking:
Parking Pad, RV Access/Parking
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Lower Level
Big Springs
Central Air Conditioner, Dishwasher, Electric Range, Microwave, Range Hood, Refrigerator, Washer/Dryer, Window Coverings
Shed, Front Entrance Mirror
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
19'9" × 11'8"
Main Floor
Living Room
19'5" × 11'7"
Main Floor
Bedroom - Primary
11'7" × 10'10"
Main Floor
Bedroom
11'10" × 10'4"
Main Floor
Bedroom
12'2" × 8'2"
Lower Level
Game Room
22'4" × 22'3"
Lower Level
Bedroom
13'7" × 8'
Lower Level
Storage
0 × 0
Floor
Ensuite
Pieces
Other
Main Floor
Yes
2
Main Floor
No
4
Lower Level
No
3
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby
Interior Features:
Ceiling Fan(s), No Smoking Home, Storage, Vinyl Windows
Exterior Features:
Private Yard, Storage
Patio And Porch Features:
Deck, Other, Pergola, Screened
Lot Features:
Backs on to Park/Green Space, Cul-De-Sac, Few Trees, Gazebo, No Neighbours Behind, Landscaped, Pie Shaped Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Airdrie
Zoning:
DC-16-C
Listed Date:
Nov 09, 2024
Days on Mkt:
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Listed by Greater Calgary Real Estate
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