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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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1921 7 Avenue SE
Inglewood Calgary T2G 0J9

$950,000
Residential beds: 3 baths: 1.0 1,278 sq. ft. built: 1945

Welcome to 1921 7 Ave SE - where you can walk to Downton, Calgary Zoo, Inglewood Bird Sanctuary & River Path
Photo 1: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 2: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 3: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 4: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 5: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 6: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 7: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 8: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 9: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 10: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 11: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 12: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 13: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 14: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 15: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 16: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 17: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 18: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Photo 19: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2093683
Bedrooms:
3
Bathrooms:
1
Year Built:
1945
Massive potential for INVESTORS & DEVELOPERS with this fantastic, rare opportunity in INGLEWOOD! Almost 2.5 lots - 61 FT x 130 FT. R-C2 zoned. Welcome to 1921 7th Ave SE. situated on a cul-du-sac. Great location only minutes away from the Max Purple BRT Rapid Transit Network, Inglewood Bicycle Pump track, Inglewood Wildlands, bike paths, Bow River, 14 - 18 min walk to the Inglewood Bird Sanctuary, Pearce Estate Park, Harvie Passage Lookout. Across the street is The Corridor in Phase 2 of the new project Bend in the Bow. Perfect location if you are looking for a renovation project or to redevelop. The house needs a lot of TLC & renos. The main floor has vinyl floors, 2 bedrooms, 3pce bathroom was updated with a walkin shower & low flush toilet. The basement is a finished illegal-suite with vinyl flooring, bedroom, kitchen, 4 pce bathroom. Not currently rented. Prime for redevelopment as R-C2 zoned 61 FT (frontage) x 130 FT.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
Bungalow
Total Living Area:
1,277.9 sq. ft.
Main Level Finished Area:
1,277.9 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
617.85 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
7,803 sq. ft.
Lot Frontage:
60'11⅞"
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:
One
Total Rooms Above Grade:
4
Year built:
1945 (Age: 79)
Bedrooms:
3 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
1
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
3577P
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Vinyl
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
1
Parking:
Single Garage Detached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
In Basement
Inglewood
Dishwasher, Dryer, Refrigerator, Stove(s), Washer
N/A
Call Lister
Floor
Type
Size
Other
Main Floor
Kitchen
12' × 11'
Main Floor
Living Room
16'5" × 11'
Main Floor
Bedroom - Primary
12'3" × 9'7"
Main Floor
Bedroom
9'7" × 9'2"
Basement
Family Room
31'4" × 9'8"
Basement
Kitchen
14'9" × 10'
Basement
Bedroom
11'9" × 9'7"
Floor
Ensuite
Pieces
Other
Main Floor
No
3
6'1" x 6'6"
Title to Land:
Fee Simple
Community Features:
Park, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
See Remarks
Exterior Features:
None
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Back Yard, Cul-De-Sac
Num. of Parcels:
0
Fencing:
Partial
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
R-C2
Listed Date:
Jan 27, 2024
Days on Mkt:
  • Photo 1: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Welcome to 1921 7 Ave SE - where you can walk to Downton, Calgary Zoo, Inglewood Bird Sanctuary & River Path
  • Photo 2: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Large Lot 61 ft Frontage
  • Photo 3: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Large Lot 61 ft x 130 ft
  • Photo 4: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Open Concept
  • Photo 5: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Living Rm
  • Photo 6: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Photo 6 of 19
  • Photo 7: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Kitchen
  • Photo 8: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Kitchen
  • Photo 9: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Master Bed Room
  • Photo 10: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    2nd Bedroom with access to attic
  • Photo 11: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Main Bathrom with walk in shower
  • Photo 12: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Photo 12 of 19
  • Photo 13: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Shared Laundry In Basement
  • Photo 14: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    4 Pc Bathroom In Basement
  • Photo 15: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Living Rm Basement
  • Photo 16: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Living Room Basement
  • Photo 17: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Bedroom Basement
  • Photo 18: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Basement
  • Photo 19: 1921 7 Avenue SE in Calgary: Inglewood Detached for sale : MLS®# A2093683
    Basement
Listed by eXp Realty
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
31
Avg list price:
$625,000
Min list price:
$300,000
Max list price:
$2,299,000
Avg days on market:
29
Min days on market:
1
Max days on market:
237
Avg price per sq.ft.:
$611.83
These statistics are generated based on the current listing's property type and located in Inglewood. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706