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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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5212 200 Seton Circle SE
Seton Calgary T3M 3V3

$360,000
Residential beds: 2 baths: 2.0 700 sq. ft. built: 2023

Main Photo: 5212 200 Seton Circle SE in Calgary: Seton Apartment for sale : MLS®# A2162412
Photo 1: 5212 200 Seton Circle SE in Calgary: Seton Apartment for sale : MLS®# A2162412
Photo 2: 5212 200 Seton Circle SE in Calgary: Seton Apartment for sale : MLS®# A2162412
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2162412
Bedrooms:
2
Bathrooms:
2
Year Built:
2023
Welcome to modern living in this newly constructed 2-bedroom, 2-bathroom apartment in Calgary’s vibrant Seton community. Located on the second floor, this stylish unit is bathed in natural light and features upgraded cabinetry, a sleek stainless-steel appliance package, and a master bedroom complete with a luxurious 4-piece ensuite. Step out onto your private balcony and enjoy the stunning views. With titled underground heated parking and additional storage, convenience is at your fingertips. Seton’s prime location offers easy access to the world's largest YMCA, shopping, and the South Health Campus, with dining options and major highways just minutes away. Book your showing today!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Apartment
Total Living Area:
700 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$299.71
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Maintenance Grounds, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash, Water
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:
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:
4
Year built:
2023 (Age: 1)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
2311015
Heating:
Baseboard
New Constr.:
No
Construction Material:
Vinyl Siding
Structure Type:
Low Rise (2-4 stories)
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Laminate
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Stall, Titled, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Z-name Not Listed
Seton
Dog Park, Elevator(s)
Dishwasher, Electric Stove, Microwave, Range Hood, Refrigerator, Washer/Dryer
na
Board Approval
Restrictions
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
10'5" × 9'4"
Main Floor
Living Room
13'9" × 10'3"
Main Floor
Kitchen With Eating Area
11'3" × 9'9"
Main Floor
Entrance
4' × 3'10"
Main Floor
Laundry
7'1" × 3'3"
Main Floor
Bedroom
10'5" × 10'1"
Main Floor
Balcony
12'5" × 6'3"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
4'11" x 8'5"
Main Floor
No
4
4'11" x 8'5"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Pool, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Breakfast Bar, Closet Organizers, Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan, See Remarks, Storage
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
M-2
Listed Date:
Sep 04, 2024
Days on Mkt:
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Listed by eXp Realty
Data was last updated November 13, 2024 at 02:05 AM (UTC)
Area Statistics
Listings on market:
89
Avg list price:
$474,900
Min list price:
$250,000
Max list price:
$1,187,900
Avg days on market:
25
Min days on market:
3
Max days on market:
155
Avg price per sq.ft.:
$426.07
These statistics are generated based on the current listing's property type and located in Seton. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706