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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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312 156 Park Street
Greystone (Cochrane) Cochrane T4C 2B8

$499,800
Residential beds: 3 baths: 2.0 1,309 sq. ft. built: 2024

Main Photo: 312 156 Park Street: Cochrane Row/Townhouse for sale : MLS®# A2165543
Photo 1: 312 156 Park Street: Cochrane Row/Townhouse for sale : MLS®# A2165543
Photo 2: 312 156 Park Street: Cochrane Row/Townhouse for sale : MLS®# A2165543
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Photo 30: 312 156 Park Street: Cochrane Row/Townhouse for sale : MLS®# A2165543
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2165543
Bedrooms:
3
Bathrooms:
2
Year Built:
2024
Welcome to a home where contemporary elegance meets every day comfort, coupled with an opportunity for outdoor lifestyle living. This one a kind community is your chance to experience waterfront living with quick access to the Rocky Mountains. Stepping into the unit, you will find an open concept floorplan with 9' ceilings throughout all of the living areas, luxury wide plank flooring, and the ability to choose from designer selected colour schemes - Mocha and Caramel, to best suit your preferred style. Moving into the well designed kitchen, you will find quartz stone countertops with soft close drawers, upgraded stainless steel appliances, as well as an overhanging kitchen island for extra counter space. Continuing further into the unit, you will find 3 spacious bedrooms and 2 bathrooms with contemporary plumbing fixtures, stoned tiled flooring, and quartz countertops. You will also have a single attached garage with an additional parking pad for any additional parking. Sit back and relax with your sun filled waterfront views on your private deck and enjoy your evenings walking through the garden pathways and parks nearby. Being in prime location, the community will be surrounded by various large retailers including one of Canada's flagship Co-op grocery store locations. The Spray Lakes Sports Centre is just minutes away and the accessibility to the Rocky Mountains provides you with a great opportunity for your outdoor adventures. Don't miss out on your chance to be a part of Cochrane's fast paced growth!
Property Type:
Residential
Property Sub Type:
Row/Townhouse
Condo Type:
Conventional Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Stacked Townhouse
Total Living Area:
1,309 sq. ft.
Main Level Finished Area:
72 sq. ft.
Upper Level Finished Area:
1,237 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$256.05
Condo Fee Includes:
Common Area Maintenance, Insurance, Parking, Professional Management, Snow Removal, Trash
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:
West
Reg. Size:
Reg. Size Includes:
Entry Level:
1
Levels:
Three Or More
End Unit:
2+ Common Walls
Total Rooms Above Grade:
7
Year built:
2024 (Age: 0)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
81110002
Heating:
Baseboard, Natural Gas
Basement:
None
Foundation:
Poured Concrete
New Constr.:
Yes
Construction Material:
Wood Frame
Structure Type:
Five Plus
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Vinyl
Cooling:
Central Air
Fireplaces:
0
Garage:
1
Garage Spaces:
1
Parking:
Single Garage Attached
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
Laundry Room
Condo Fee Frequency:
Monthly
Z-name Not Listed
Greystone (Cochrane)
Day Care, Park
Built-In Electric Range, Dishwasher, Microwave, Refrigerator, Stove(s), Washer/Dryer
N/A
None Known
Yes
Floor
Type
Size
Other
Main Floor
Foyer
15'2" × 3'4"
2nd Floor
Bedroom
10'4" × 8'1"
2nd Floor
Dining Room
10'8" × 4'5"
2nd Floor
Kitchen
19'8" × 8'9"
2nd Floor
Living Room
11'7" × 9'8"
3rd Floor
Bedroom
9'7" × 9'5"
3rd Floor
Bedroom - Primary
19'1" × 16'2"
Floor
Ensuite
Pieces
Other
2nd Floor
No
4
7'4" x 6'4"
3rd Floor
No
4
9'10" x 6'7"
Title to Land:
Fee Simple
Community Features:
Lake, Park, Shopping Nearby, Walking/Bike Paths
Interior Features:
High Ceilings, Kitchen Island, Open Floorplan, Pantry, Quartz Counters
Exterior Features:
None
Patio And Porch Features:
Balcony(s)
Lot Features:
Other
Num. of Parcels:
0
Fencing:
None
Region:
Rocky View County
Zoning:
TBD
Listed Date:
Sep 13, 2024
Days on Mkt:
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Listed by PropZap Realty
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