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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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  1. Contact Form: Use the contact form on my website to send me a direct message. Please include your name, email address, and a message, and I will respond as soon as possible.

  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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68 Heritage Lake Shores
NONE Heritage Pointe T0L 0X0

$3,975,000
Residential beds: 5 baths: 5.0 4,393 sq. ft. built: 2008

Main Photo: 68 Heritage Lake Shores: Heritage Pointe Detached for sale : MLS®# A2160365
Photo 1: 68 Heritage Lake Shores: Heritage Pointe Detached for sale : MLS®# A2160365
Photo 2: 68 Heritage Lake Shores: Heritage Pointe Detached for sale : MLS®# A2160365
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2160365
Bedrooms:
5
Bathrooms:
5
Year Built:
2008
* Sellers may consider trade * LAKEFRONT LUXURY! Welcome to "HERITAGE LAKE SHORES," one of the most coveted locations on this gorgeous lake. Nestled on a QUIET CUL-DE-SAC, this European-inspired residence is one of only 66 exclusive lakefront properties in Heritage Pointe, offering a PERFECT BLEND of luxury and tranquility. Spanning 6,383 sq. ft. of refined living space, the home features 5 bdrms, 5 baths & nearly 100 feet of PRISTINE LAKE FRONTAGE with a PRIVATE DOCK, all showcasing exceptional architectural elegance. The GRAND two-story turret, paired with an arched stone entry & stands as a hallmark of European design, offering a warm and inviting welcome. The exterior, finished in stone and stucco, blends seamlessly with its natural surroundings. A TRIPLE CAR attached garage with epoxy flooring & a rubber driveway adds both functionality & a polished finish. Upon entering, you are greeted by an elegant SPIRAL STAIRCASE, complemented by timeless TRAVERTINE flooring, a stunning CHANDELIER, and UNOBSTRUCTED LAKE VIEWS. The expansive GREAT ROOM, with its SOARING 20-foot TRAY CEILING & dual-sided fireplace, creates a cozy chalet-style living area that offers STUNNING lake views. The GOURMET KITCHEN is a chef's dream, featuring a wrap-around design with GRANITE countertops, floor-to-ceiling cabinets, and a spacious breakfast nook with PANORAMIC LAKE VIEWS. Top-of-the-line appliances, including a Sub-Zero fridge, Wolf gas cooktop, dual dishwashers, and a wine and beverage area, make this space ideal for both casual dining and entertaining. The ELEGANT DINING area is a spacious, inviting setting to host those large family dinners or holiday gatherings. The main floor features a home office / den with lake views, fireplace, built in bookshelves – the perfect place to work from home or curl up with a good book! The main floor offers added convenience of a large main floor laundry, half bath and mud room. This FIVE BEDROOM home has FOUR BEDROOMS located UPSTAIRS, connected by a walkway that overlooks the lake. The PRIMARY SUITE is grand in size, offering full LAKE VIEWS and a SPA-LIKE 5-piece ENSUITE with a soaker tub, double vanities, and a spacious walk-in closet with CUSTOM shelving. The second bedroom upstairs has a 3 pc ensuite bath, and the third and forth bedrooms upstairs share a 5pc main bathroom, making it ideal for family living. The WALK OUT BASEMENT is an entertainer’s dream, complete with a HOME THEATER room with an Epson projector, 120” (10’) screen, built in speakers and surround sound system, set up perfect for those home movie nights! The entertaining continues with a large family room, dry bar, and outdoor living space. The 5th bedroom is currently set up as a crafting room – with large windows, it makes a great guest room or craft room. The fully landscaped yard has mature trees, a private dock and sand beach, perfect for enjoying the lake’s natural beauty and fun on the waterfront. The community offers year-round activities!
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:
4,393 sq. ft.
Main Level Finished Area:
2,369.28 sq. ft.
Upper Level Finished Area:
2,023.85 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,990.57 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
10,873 sq. ft.
Lot Frontage:
67'11"
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:
Levels:
Three Or More
Total Rooms Above Grade:
8
Year built:
2008 (Age: 16)
Bedrooms:
5 (Above Grd: 4)
Bedrooms Above Grade:
4
Bedrooms Below Grade:
1
Bathrooms:
5.0 (Full:4, Half:1)
Plan:
0511492
Heating:
Forced Air
Basement:
Finished, Full, Walk-Out To Grade
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Stucco, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Tile
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Den, Double Sided, Gas, Great Room
Garage:
1
Garage Spaces:
3
Parking:
Triple Garage Attached
Parking Places:
6.0
Parking Total/Covered:
6 / -
Laundry Features:
Main Level
HOA Fee:
$1,709.04
NONE
Beach Access, Clubhouse, Park, Playground
Bar Fridge, Built-In Refrigerator, Central Air Conditioner, Dishwasher, Double Oven, Dryer, Freezer, Garage Control(s), Garburator, Gas Cooktop, Humidifier, Microwave, See Remarks, Washer, Water Softener, Window Coverings
Epson Rear Projector, 120" (10 ft) screen, built in & wall mounted speakers in theater room
Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Living Room
22'3" × 18'7"
Main Floor
Entrance
9'4" × 7'11"
Main Floor
Dining Room
15'8" × 14'
Main Floor
Kitchen
22'6" × 18'2"
Main Floor
Breakfast Nook
14' × 12'
Main Floor
Pantry
10'2" × 7'
Main Floor
Office
15' × 13'
Main Floor
Laundry
10'2" × 7'10"
Main Floor
Mud Room
8'1" × 7'
Main Floor
Balcony
32'7" × 11'9"
Upper Level
Bedroom - Primary
23'9" × 13'11"
Upper Level
Bedroom
15'11" × 13'
Upper Level
Bedroom
13'3" × 13'
Upper Level
Bedroom
16'3" × 15'3"
Upper Level
Walk-In Closet
15'11" × 8'8"
Basement
Bedroom
16'5" × 15'6"
Basement
Media Room
19'3" × 13'5"
Basement
Family Room
40'1" × 30'
Basement
Game Room
4'4" × 4'4"
Basement
Storage
10'1" × 5'1"
Basement
Storage
15'6" × 8'8"
Basement
Other
17'9" × 11'
Basement
Furnace/Utility Room
19'4" × 8'3"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
5'1" x 6'2"
Upper Level
Yes
5
16'9" x 16'
Upper Level
No
5
8'4" x 9'3"
Upper Level
Yes
3
7'4" x 9'2"
Basement
No
3
9' x 4'11"
Title to Land:
Fee Simple
Community Features:
Clubhouse, Fishing, Lake, Park, Playground, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s)
Interior Features:
Bookcases, Breakfast Bar, Built-in Features, Central Vacuum, Chandelier, Closet Organizers, Double Vanity, Dry Bar, Granite Counters, High Ceilings, Kitchen Island, No Smoking Home, Pantry, See Remarks, Soaking Tub, Tray Ceiling(s), Vaulted Ceiling(s), Vinyl Windows, Walk-In Closet(s)
Exterior Features:
Balcony, BBQ gas line, Dock
Patio And Porch Features:
Balcony(s), Patio
Lot Features:
Cul-De-Sac, Lake, Landscaped, Underground Sprinklers, Views, Waterfront
Num. of Parcels:
0
Fencing:
None
Region:
Foothills County
Zoning:
RC
Listed Date:
Aug 27, 2024
Days on Mkt:
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Virtual Tour

Listed by MaxWell Canyon Creek
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Diane Richardson
Cell: 403-397-3706