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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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403 313 20 Avenue SW
Mission Calgary T2S 0E6

$199,900
Residential beds: 1 baths: 1.0 477 sq. ft. built: 1968

Virtually Staged
Photo 1: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 2: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 3: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 4: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 5: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 6: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 7: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 8: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 9: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 10: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 11: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 12: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 13: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 14: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 15: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 16: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 17: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 18: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 19: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 20: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 21: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 22: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Photo 23: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2153565
Bedrooms:
1
Bathrooms:
1
Year Built:
1968
Discover your dream home in the heart of Mission, one of the most sought-after neighborhoods. This cozy 1 bedroom, 1 bathroom condo is perfect for first-time home buyers looking to step into the real estate market or savvy investors seeking a prime location. Situated near the beautiful Elbow River, residents can enjoy morning jogs or evening strolls just a short 3-minute walk from their front door. The vibrant food scene on 4th Street, filled with numerous cafes, restaurants, and pubs, is within easy reach, and 17 Avenue SW offers even more dining and entertainment options. For fitness enthusiasts, the renowned MNP Sports Centre provides access to superb pools and fitness facilities. This condo offers an unparalleled lifestyle, combining the convenience of urban living with the tranquillity of a prime location.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Low-Rise(1-4)
Total Living Area:
477.38 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$487.29
Condo Fee Includes:
Common Area Maintenance, Electricity, Gas, Heat, Maintenance Grounds, Parking, 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:
North
Reg. Size:
Reg. Size Includes:
Unit Exposure:
North
Floor Location:
Top
Entry Level:
4
Stories Total:
4
Levels:
Single Level Unit
End Unit:
End Unit
Total Rooms Above Grade:
4
Year built:
1968 (Age: 56)
Bedrooms:
1 (Above Grd: 1)
Bedrooms Above Grade:
1
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
8911717
Heating:
Baseboard, Natural Gas
New Constr.:
No
Construction Material:
Brick, Concrete
Structure Type:
Low Rise (2-4 stories)
Ensuite:
No
Flooring:
Laminate, Linoleum
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Stall
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
Common Area
Condo Fee Frequency:
Monthly
Regency
Mission
None
Dishwasher, Electric Stove, Range Hood, Refrigerator
TV Mount in the bedroom
Pet Restrictions or Board approval Required, Short Term Rentals Not Allowed
Restrictions
Floor
Type
Size
Other
Main Floor
Kitchen With Eating Area
10'7" × 7'
Main Floor
Living Room
13'11" × 11'6"
Main Floor
Foyer
5'8" × 3'1"
Main Floor
Bedroom - Primary
11'4" × 9'10"
Main Floor
Balcony
8'5" × 4'2"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 6'10"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Walking/Bike Paths
Interior Features:
No Animal Home
Exterior Features:
Balcony
Patio And Porch Features:
None
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
DC (pre 1P2007)
Listed Date:
Aug 01, 2024
Days on Mkt:
  • Photo 1: 403 313 20 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2153565
    Virtually Staged
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    Virtually Staged
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    Virtually Staged
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Listed by CIR Realty
Data was last updated November 13, 2024 at 02:05 AM (UTC)
Area Statistics
Listings on market:
37
Avg list price:
$333,000
Min list price:
$199,900
Max list price:
$1,375,000
Avg days on market:
33
Min days on market:
2
Max days on market:
130
Avg price per sq.ft.:
$457.3
These statistics are generated based on the current listing's property type and located in Mission. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706