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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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261 Three Sisters Drive
Hospital Hill Canmore T1W 2M4

$1,900,000
Residential beds: 4 baths: 2.0 1,340 sq. ft. built: 1950

Main Photo: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
Photo 1: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
Photo 2: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
Photo 3: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
Photo 4: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
Photo 5: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
Photo 6: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
Photo 7: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
Photo 8: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
Photo 9: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
Photo 10: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
Photo 11: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
Photo 12: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2127380
Bedrooms:
4
Bathrooms:
2
Year Built:
1950
Visit REALTOR® website for additional information. Duplex Lot Available for Redevelopment on Hospital Hill! This exceptional 70’ x 120’ R2 lot is nestled in a sought-after Canmore neighborhood adorned with upscale duplex residences. Don't miss out on this remarkable opportunity to claim one of the few remaining parcels featuring a picturesque forest backdrop. Enjoy the tranquility of the surroundings with breathtaking vistas of the Three Sister and other majestic mountains. Perfectly positioned, it's just a brief stroll to Main Street and the Bow River and Canmore's extensive trail network, or a quick hike to Quarry Lake and the renowned Canmore Nordic Centre. Consider leasing now and building later, providing peace of mind throughout the planning stages. It's important to note that this property comes with no seller warranties and is sold "As Is and Where Is."
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bungalow
Total Living Area:
1,340.5 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
8,276 sq. ft.
Lot Frontage:
70'
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:
Northeast
Reg. Size:
Reg. Size Includes:
Levels:
Bi-Level
Total Rooms Above Grade:
7
Year built:
1950 (Age: 74)
Bedrooms:
4 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
2
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
4171JK
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Linoleum
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
3
Parking:
Double Garage Detached, Off Street, Single Garage Attached
Parking Places:
6.0
Parking Total/Covered:
6 / -
Laundry Features:
Lower Level
Hospital Hill
Dryer, Range, Refrigerator, Washer
N/A
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
12'1" × 9'2"
Main Floor
Kitchen
13'4" × 9'5"
Main Floor
Pantry
10' × 4'
Main Floor
Dining Room
15'10" × 9'7"
Main Floor
Living Room
14'3" × 9'8"
Main Floor
Sunroom/Solarium
19' × 13'3"
Main Floor
Foyer
7'3" × 6'3"
Main Floor
Bedroom - Primary
12'9" × 11'7"
Basement
Bedroom
13'8" × 8'1"
Basement
Other
6'8" × 6'4"
Basement
Laundry
14'7" × 11'
Basement
Other
19'4" × 14'4"
Basement
Bedroom
15'1" × 13'8"
Floor
Ensuite
Pieces
Other
Main Floor
No
3
14'10" x 5'1"
Basement
No
3
6'2" x 6'7"
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
See Remarks
Exterior Features:
Lighting
Patio And Porch Features:
Balcony(s), Deck
Lot Features:
Back Yard, Landscaped, Street Lighting
Num. of Parcels:
0
Fencing:
Fenced
Region:
Bighorn No. 8, M.D. of
Zoning:
R2
Listed Date:
Apr 30, 2024
Days on Mkt:
  • Photo 1: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
    Photo 1 of 12
  • Photo 2: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
    Photo 2 of 12
  • Photo 3: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
    Photo 3 of 12
  • Photo 4: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
    Photo 4 of 12
  • Photo 5: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
    Photo 5 of 12
  • Photo 6: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
    Photo 6 of 12
  • Photo 7: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
    Photo 7 of 12
  • Photo 8: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
    Photo 8 of 12
  • Photo 9: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
    Photo 9 of 12
  • Photo 10: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
    Photo 10 of 12
  • Photo 11: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
    Photo 11 of 12
  • Photo 12: 261 Three Sisters Drive: Canmore Detached for sale : MLS®# A2127380
    Photo 12 of 12
Listed by PG Direct Realty Ltd.
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
150
Avg list price:
$1,199,000
Min list price:
$69,995
Max list price:
$8,717,800
Avg days on market:
61
Min days on market:
1
Max days on market:
844
Avg price per sq.ft.:
$878.59
These statistics are generated based on the current listing's property type and located in Canmore. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706