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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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415 3420 50 Street NW
Varsity Calgary T3A 2E1

$288,000
Residential beds: 2 baths: 1.0 848 sq. ft. built: 1976

Main Photo: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
Photo 1: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
Photo 2: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
Photo 3: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
Photo 4: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
Photo 5: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
Photo 6: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
Photo 7: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
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Photo 12: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
Photo 13: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
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Photo 15: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
Photo 16: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
Photo 17: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
Photo 18: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
Photo 19: 415 3420 50 Street NW in Calgary: Varsity Apartment for sale : MLS®# A2157378
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2157378
Bedrooms:
2
Bathrooms:
1
Year Built:
1976
Discover the ultimate in updated living with this beautifully renovated TOP-FLOOR apartment in the heart of Varsity. Recently transformed from top to bottom, this unit has been PROFESSIONALLY REPAINTED, with a fresh coat applied to all the walls, trim, baseboards, and interior doors ensuring a pristine and modern look throughout. Additional upgrades include NEW HARDWARE on all passageway and closet doors and a BRAND-NEW STAINLESS STEEL FRIDGE AND STOVE. Perfectly suited for investors or first-time homebuyers, this 2-bedroom, 1-bath gem offers unparalleled convenience and style. The kitchen shines with fully REPAINTED CABINETS, a sleek new faucet, and a contemporary light fixture, creating a space that is both functional and stylish. The dining area seamlessly flows into the bright living room, where southwest-facing views fill the space with natural light. Additional NEW LIGHT FIXTURES in the kitchen and dining area further enhance the welcoming atmosphere. Down the hall, you'll find two generously sized bedrooms, both freshly repainted, continuing the clean and crisp aesthetic found throughout the unit. The bathroom has been modernized with a NEW SINK, FAUCET, and LIGHT FIXTURE, offering a contemporary feel. IN-SUITE LAUNDRY adds to the convenience, and the well-maintained, ADULTS-ONLY building offers additional amenities such as bicycle storage and included heat and water in the condo fee. The location is truly exceptional—just steps away from Market Mall, a 5-minute walk to Safeway, and close to the University of Calgary, Foothills Hospital, and major transit routes, making it ideal for students, healthcare professionals, or anyone seeking a vibrant lifestyle. This PROFESSIONALLY CLEANED, move-in ready apartment is a rare find in a highly sought-after neighborhood. Don’t miss your chance to own this fantastic property—contact us today to schedule your viewing and make this exceptional top-floor apartment your new home!
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:
848.19 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$500.17
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Maintenance Grounds, Parking, 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:
South
Reg. Size:
Reg. Size Includes:
Unit Exposure:
South
Floor Location:
Top
Entry Level:
3
Stories Total:
3
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
1976 (Age: 48)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
9111002
Heating:
Baseboard, Natural Gas
New Constr.:
No
Construction Material:
Brick, Concrete, Metal Frame, Vinyl Siding
Structure Type:
Low Rise (2-4 stories)
Ensuite:
No
Flooring:
Carpet, Ceramic Tile, Linoleum
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Stall
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit, Laundry Room
Condo Fee Frequency:
Monthly
Mountainview Estates
Varsity
Bicycle Storage, Coin Laundry, Parking, Snow Removal, Trash, Visitor Parking
Electric Stove, Refrigerator, Washer/Dryer
Any window treatments
Adult Living, Pet Restrictions or Board approval Required
Restrictions, Cats OK
Floor
Type
Size
Other
Main Floor
Kitchen
8'3" × 7'5"
Main Floor
Dining Room
8'9" × 8'
Main Floor
Living Room
18' × 12'2"
Main Floor
Laundry
5'10" × 5'6"
Main Floor
Balcony
19'9" × 4'5"
Main Floor
Bedroom - Primary
12'4" × 10'8"
Main Floor
Bedroom
12'4" × 9'4"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 8'11"
Title to Land:
Fee Simple
Community Features:
Golf, Park, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Laminate Counters, Open Floorplan
Exterior Features:
Balcony, Courtyard
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone NW
Zoning:
M-C2
Listed Date:
Aug 30, 2024
Days on Mkt:
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Listed by Coldwell Banker Mountain Central
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
51
Avg list price:
$699,000
Min list price:
$234,900
Max list price:
$3,850,000
Avg days on market:
16
Min days on market:
1
Max days on market:
161
Avg price per sq.ft.:
$474.13
These statistics are generated based on the current listing's property type and located in Varsity. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706