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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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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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204 107 Montane Road
Bow Valley Trail Canmore T1W 3J2

$786,240
Residential beds: 2 baths: 2.0 834 sq. ft. built: 2003

Lodges at Canmore Exteriour
Photo 1: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 2: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 3: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 4: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 5: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 6: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 7: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 8: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 9: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 10: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 11: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 12: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 13: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 14: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 15: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 16: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 17: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 18: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 19: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 20: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 21: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 22: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 23: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 24: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 25: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Photo 26: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2175015
Bedrooms:
2
Bathrooms:
2
Year Built:
2003
Looking for an affordable mountain home you can put your own creative touches on? This 2BR/2BA unit is zoned for short term rental and located in highly sought after Lodges at Canmore. You’ll love the layout with an open main living area combining a well laid out kitchen, separate dining and livingroom spaces that makes a great space for gathering. Relax by the fireplace after a day on the slopes. Both bedrooms allow amble space for comfortable rest and restoration. The Lodges offers a heated outdoor pool, three hottub areas, fitness room and two large open air decks. You are only minutes away from trails, walking/biking paths, shops, downtown and the river. Use personally as your mountain retreat or rent and earn very good returns. You can begin booking your guests right away!! Start living your mountain lifestyle in time for ski and the holiday season. Come see for yourself – Canmore awaits!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Apartment
Total Living Area:
834 sq. ft.
Main Level Finished Area:
834 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$725.09
Condo Fee Includes:
Amenities of HOA/Condo, Cable TV, Common Area Maintenance, Gas, Insurance, Internet, Maintenance Grounds, Parking
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:
East
Reg. Size:
Reg. Size Includes:
Unit Exposure:
East
Floor Location:
Other
Entry Level:
2
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
2003 (Age: 21)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0313205
Heating:
Baseboard, Electric
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
Low Rise (2-4 stories)
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile
Cooling:
Wall/Window Unit(s)
Fireplaces:
1
Fireplace Details:
Gas, Living Room, Mantle, Tile
Garage:
0
Parking:
Parkade, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Z-name Not Listed
Bow Valley Trail
Bicycle Storage, Elevator(s), Fitness Center, Outdoor Pool, Playground, Recreation Facilities, Secured Parking, Spa/Hot Tub
Dishwasher, Dryer, Electric Stove, Microwave, Microwave Hood Fan, Refrigerator, Washer
All Furnishings, Electronics, Artwork, Housewares, Linens
Pets Allowed
Yes
Floor
Type
Size
Other
Main Floor
Living Room
15'10" × 12'5"
Main Floor
Dining Room
13'8" × 6'4"
Main Floor
Kitchen
8'2" × 7'5"
Main Floor
Bedroom
11'11" × 9'9"
Main Floor
Bedroom - Primary
14'3" × 12'2"
Main Floor
Laundry
3' × 3'
Main Floor
Balcony
17'7" × 4'8"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
3
4'5" x 13'10"
Main Floor
No
4
9'2" x 7'4"
Title to Land:
Fee Simple
Community Features:
Playground, Pool, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Ceiling Fan(s), Elevator, Recreation Facilities
Exterior Features:
Playground
Patio And Porch Features:
Balcony(s)
Pool Features:
Heated, In Ground, Outdoor Pool
Num. of Parcels:
0
Fencing:
None
Region:
Bighorn No. 8, M.D. of
Zoning:
BVT-G 20 Visitor Accommod
Listed Date:
Oct 23, 2024
Days on Mkt:
  • Photo 1: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Lodges at Canmore Exteriour
  • Photo 2: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Livingroom
  • Photo 3: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Livingroom
  • Photo 4: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Livingroom
  • Photo 5: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Spacious Space For Entertaining
  • Photo 6: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Mtn View From Livingroom
  • Photo 7: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Mtn view From Deck
  • Photo 8: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Kitchen
  • Photo 9: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Kitchen
  • Photo 10: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Kitchen
  • Photo 11: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Kitchen
  • Photo 12: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Dining
  • Photo 13: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Second Bedroom
  • Photo 14: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Second Bedroom
  • Photo 15: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    4pc Main Bath
  • Photo 16: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    4pc Main Bath
  • Photo 17: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Primary Bedroom
  • Photo 18: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Primary Bedroom With Ensuite
  • Photo 19: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Primary Bedroom With WIC
  • Photo 20: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    3pc Ensuite
  • Photo 21: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Deck
  • Photo 22: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    In-Suite Laundry
  • Photo 23: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Floorplan-SqFt
  • Photo 24: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Main Hottub
  • Photo 25: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Heated Outdoor Pool
  • Photo 26: 204 107 Montane Road: Canmore Apartment for sale : MLS®# A2175015
    Fitness Room

Virtual Tour

Virtual Tour

Listed by Coldwell Banker Lifestyle
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
147
Avg list price:
$1,199,000
Min list price:
$69,995
Max list price:
$8,717,800
Avg days on market:
60
Min days on market:
3
Max days on market:
843
Avg price per sq.ft.:
$878.05
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