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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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4211 4641 128 Avenue NE
Skyview Ranch Calgary T3N 1T5

$365,000
Residential beds: 3 baths: 2.0 836 sq. ft. built: 2020

Main Photo: 4211 4641 128 Avenue NE in Calgary: Skyview Ranch Apartment for sale : MLS®# A2173989
Photo 1: 4211 4641 128 Avenue NE in Calgary: Skyview Ranch Apartment for sale : MLS®# A2173989
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2173989
Bedrooms:
3
Bathrooms:
2
Year Built:
2020
3 BED 2 BATH 1 UNDERGROUND HEATED TITLED PARKING STALL. Welcome to this stunning unit that effortlessly combines luxury and convenience! This beautifully maintained condo features 3 generous sized Bedrooms, 2 elegantly designed bathrooms, bright and airy living area perfect for relaxation and entertaining. The kitchen is equipped with stainless steel appliances and ample of cabinet space for storage. The unit also includes laundry room with stacked washer-dryer and shelving for storage. Balcony of the unit is ideal for enjoying morning cup of coffee or evening breeze. Community amenities may include gym access, on site daycare and easy access to shopping plaza, dining and and transit. This condo is perfect for first time home buyers and investors as well.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
High-Rise (5+)
Total Living Area:
836.21 sq. ft.
Main Level Finished Area:
836.21 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$311.18
Condo Fee Includes:
Amenities of HOA/Condo, Heat, Insurance, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash, Water
HOA Fee Frequency:
Annually
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:
Other
Entry Level:
4
Stories Total:
5
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
6
Year built:
2020 (Age: 4)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
2010209
Heating:
Baseboard
New Constr.:
No
Construction Material:
Mixed, Stucco, Vinyl Siding
Structure Type:
High Rise (5+ stories)
Ensuite:
Yes
Flooring:
Carpet, Laminate
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Stall, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
HOA Fee:
$90.00
Condo Fee Frequency:
Monthly
Z-name Not Listed
Skyview Ranch
Day Care, Elevator(s)
Dishwasher, Dryer, Microwave Hood Fan, Refrigerator, Washer, Window Coverings
N/A
Pet Restrictions or Board approval Required
Restrictions
Floor
Type
Size
Other
Main Floor
Entrance
4'3" × 4'1"
Main Floor
Kitchen
8'3" × 8'
Main Floor
Dining Room
9' × 6'6"
Main Floor
Living Room
12'1" × 11'8"
Main Floor
Bedroom
8'11" × 8'10"
Main Floor
Laundry
7'10" × 3'
Main Floor
Bedroom - Primary
10'1" × 9'8"
Main Floor
Bedroom
10'7" × 9'3"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
7'5" x 4'11"
Main Floor
Yes
4
8' x 4'11"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Open Floorplan, Storage
Exterior Features:
None
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone NE
Zoning:
DC
Listed Date:
Oct 31, 2024
Days on Mkt:
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Listed by Real Broker
Data was last updated November 14, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
117
Avg list price:
$355,900
Min list price:
$234,900
Max list price:
$890,000
Avg days on market:
38
Min days on market:
1
Max days on market:
162
Avg price per sq.ft.:
$390.68
These statistics are generated based on the current listing's property type and located in Skyview Ranch. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706