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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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1007 1010 6 Street SW
Beltline Calgary T2R 1B4

$299,000
Residential beds: 1 baths: 1.0 419 sq. ft. built: 2017

Main Photo: 1007 1010 6 Street SW in Calgary: Beltline Apartment for sale : MLS®# A2166838
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2166838
Bedrooms:
1
Bathrooms:
1
Year Built:
2017
This stylish 10th-floor unit in the highly coveted 6th and Tenth building offers panoramic views of the city skyline, including the iconic Calgary Tower. Ideal for first-time buyers or investors, this one-bedroom, one-bathroom apartment blends luxury and practicality in a prime downtown location. Step into a space featuring 9-foot exposed concrete ceilings, floor-to-ceiling windows, and a private balcony equipped with a gas BBQ outlet, perfect for enjoying your morning coffee or evening grilling while soaking in breathtaking city views. The sleek, modern kitchen boasts stainless steel appliances, a gas cooktop, quartz countertops, and in-suite laundry. Though compact, the smart design optimizes living space for maximum comfort and efficiency. Residents enjoy access to premium building amenities, including a Sky Garden Lounge with an outdoor pool, a state-of-the-art fitness center, a landscaped terrace, bike storage, and 24/7 concierge and security services, ensuring convenience and peace of mind. Nestled in Calgary’s vibrant Beltline district, the location offers easy access to some of the city’s best dining and entertainment. Enjoy brunch at The Beltliner, craft beer at Last Best Brewing & Distillery, or a fine dining experience at Pigeonhole. For coffee lovers, Monogram Coffee and Analog Coffee are both just a short walk away. The lively National on 10th pub is perfect for casual nights out, while Cilantro offers a unique blend of local and international cuisine. With the CORE Shopping Centre, Prince’s Island Park, and the Bow River pathways nearby, outdoor activities and shopping are always within reach. Public transit is easily accessible, with bus stops two blocks away and the LRT just four blocks from your doorstep. Additionally, the building permits short-term rentals like Airbnb and Vrbo, making it a versatile investment opportunity. Experience the best of urban living where style and convenience converge!
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:
418.72 sq. ft.
Main Level Finished Area:
418.72 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$370.41
Condo Fee Includes:
Common Area Maintenance, Gas, Heat, Insurance, Interior Maintenance, Maintenance Grounds, Professional Management, Reserve Fund Contributions, Residential Manager, Security Personnel, 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:
Southeast
Floor Location:
Other
Entry Level:
10
Stories Total:
31
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
3
Year built:
2017 (Age: 7)
Bedrooms:
1 (Above Grd: 1)
Bedrooms Above Grade:
1
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
1711022
Heating:
Forced Air
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Concrete
Structure Type:
High Rise (5+ stories)
Roof:
Metal
Ensuite:
No
Flooring:
Laminate, Tile
Cooling:
Central Air
Fireplaces:
0
Garage:
0
Parking:
None
Parking Places:
0.0
Parking Total/Covered:
0 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
6th and Tenth
Beltline
Bicycle Storage, Clubhouse, Elevator(s), Fitness Center, Outdoor Pool, Parking, Party Room, Recreation Facilities, Roof Deck, Secured Parking, Trash, Visitor Parking
Central Air Conditioner, Dishwasher, Dryer, Gas Cooktop, Microwave Hood Fan, Oven-Built-In, Refrigerator, Washer, Window Coverings
n/a
Pet Restrictions or Board approval Required, Short Term Rentals Allowed
Restrictions, Yes
Floor
Type
Size
Other
Main Floor
Living/Dining Room Combination
14'8" × 13'10"
Main Floor
Bedroom - Primary
9'5" × 9'
Main Floor
Foyer
5' × 3'7"
Main Floor
Laundry
3'4" × 3'
Main Floor
Balcony
15'7" × 5'11"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
6' x 8'8"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Pool, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
High Ceilings, No Smoking Home, Open Floorplan, Quartz Counters, Soaking Tub, Track Lighting
Exterior Features:
Balcony, Lighting
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
CC-X
Listed Date:
Sep 20, 2024
Days on Mkt:
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Listed by Century 21 Bamber Realty LTD.
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
235
Avg list price:
$385,000
Min list price:
$188,000
Max list price:
$2,900,000
Avg days on market:
43
Min days on market:
1
Max days on market:
448
Avg price per sq.ft.:
$503.8
These statistics are generated based on the current listing's property type and located in Beltline. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706