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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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24 Emberside Grove
Fireside Cochrane T4C 3C9

$556,000
Residential beds: 3 baths: 3.0 1,402 sq. ft. built: 2024

Main Photo: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 1: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 2: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 3: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 4: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 5: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 6: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 7: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 8: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 9: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 10: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 11: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 12: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 13: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 14: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 15: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Photo 16: 24 Emberside Grove: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2135768
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2135768
Bedrooms:
3
Bathrooms:
3
Year Built:
2024
Could this be the perfect starter home or is it time for downsizing? Start your New Year of 2025 in this Janssen Home Duplex. The purchaser at this time is able to make some interior color selections from quartz counters, LVP, carpet, tile and paint but not for long! This 3-bedroom, 2.5 bath, duplex that features 1,402 sqft of well designed living space and adorned with exceptional finishing's. Located in the family friendly community of Fireside, this very popular floor plan is very close to parks, play fields, schools & community pathways. The main floor features a living room, half bath, kitchen with a large island, adjoining eating nook and mudroom. From the mud room you can access the 10'x10' private deck with stairs down to grade, overlooking north facing rear-yard. The rear yard has more than enough space to build a garage and still have ample yard area between the garage and house. The upper level features a primary retreat with walk-in closet, 3-pce ensuite with walk-in shower, roomy second floor laundry with venting window and overflow drain, 2 additional bedrooms and a 4-pce main bath. Superior on site finishing’s include – Gas Fireplace w/mantle and roughed in outlet for future fan, lacquered railings & metal spindles, luxury vinyl plank flooring throughout the main level, tile in laundry, tile in upper baths & Satin White kitchen cabinets go to the ceiling. Upper and lower cabinets in the kitchen, kitchen island, primary ensuite and main bath have soft close doors and drawers with full extension drawer glides, quartz counter tops and undermount sinks. All closets and pantry have built on site solid shelving - NO Wire Shelving!!! LoE Argon slider windows, R-50 attic insulation, high efficient furnace w/programmable thermostat & drip humidifier, 75 gal hot water tank, R/I plumbing in basement. Janssen Homes has given great attention to detail in the common wall from framing to safety and sound insulation to drywall giving the feeling of single family ownership. Family-owned and operated Janssen Homes has been building award-winning homes for over 60-years and continually delivers finely crafted designs. ****Please Note - photos of interior and exterior are from previous builds**** Possession - estimated mid Oct/Nov 2024. Warranty - Alberta New Home Warranty includes 1 yr comprehensive, 2 yrs heating, electric, plumbing, 5 yrs building envelope, 10 yrs structural.
Property Type:
Residential
Property Sub Type:
Semi Detached (Half Duplex)
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey, Side by Side
Total Living Area:
1,402 sq. ft.
Main Level Finished Area:
697 sq. ft.
Upper Level Finished Area:
705 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
2,764 sq. ft.
Lot Frontage:
24'¼"
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:
South
Entry Level:
1
Levels:
Two
End Unit:
1 Common Wall
Total Rooms Above Grade:
5
Year built:
2024 (Age: 0)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
231 0564
Heating:
High Efficiency, Fireplace(s), Natural Gas
Basement:
Full, Unfinished
Foundation:
Poured Concrete
New Constr.:
Yes
Construction Material:
Composite Siding, Concrete, Vinyl Siding, Wood Frame
Structure Type:
Duplex
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Tile, Vinyl Plank
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas, Living Room
Garage:
0
Parking:
Alley Access, Parking Pad
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Laundry Room, Upper Level
HOA Fee:
$52.50
Fireside
None
Dishwasher, Electric Stove, Electric Water Heater, Microwave Hood Fan, Refrigerator
N/A
Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Living Room
17'6" × 11'3"
Main Floor
Nook
12'6" × 9'6"
Main Floor
Kitchen
14'6" × 8'6"
Main Floor
Mud Room
8' × 7'
Upper Level
Bedroom
10'2" × 8'9"
Upper Level
Bedroom
10'2" × 8'9"
Upper Level
Bedroom - Primary
12'3" × 11'3"
Upper Level
Laundry
6' × 5'
Floor
Ensuite
Pieces
Other
Main Floor
No
2
0' x 0'
Upper Level
No
4
0' x 0'
Upper Level
Yes
3
0' x 0'
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Bathroom Rough-in, Built-in Features, Closet Organizers, High Ceilings, Kitchen Island, Low Flow Plumbing Fixtures, No Animal Home, No Smoking Home, Pantry, Quartz Counters, Recessed Lighting, Walk-In Closet(s)
Exterior Features:
None
Patio And Porch Features:
Deck, Front Porch
Lot Features:
Back Lane, Back Yard, Front Yard, Interior Lot, Rectangular Lot
Num. of Parcels:
0
Fencing:
None
Region:
Rocky View County
Zoning:
R-MX
Listed Date:
May 27, 2024
Days on Mkt:
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Listed by Royal LePage Benchmark
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
188
Avg list price:
$661,950
Min list price:
$249,900
Max list price:
$1,375,000
Avg days on market:
33
Min days on market:
1
Max days on market:
398
Avg price per sq.ft.:
$370.99
These statistics are generated based on the current listing's property type and located in Cochrane. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706