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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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1638 15 Avenue SW
Sunalta Calgary T3C 0Y2

$759,000
Residential beds: 4 baths: 3.0 1,430 sq. ft. built: 1921

Main Photo: 1638 15 Avenue SW in Calgary: Sunalta Detached for sale : MLS®# A2105105
Photo 1: 1638 15 Avenue SW in Calgary: Sunalta Detached for sale : MLS®# A2105105
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2105105
Bedrooms:
4
Bathrooms:
3
Year Built:
1921
PRICE REDUCTION !! This beautiful home is located in the desirable neighborhood of Sunalta, offering convenient access to downtown amenities and river pathways. The community boasts shared gardens, the Calgary Tennis Club, and Royal Sunalta Park with a playground just steps away, making it ideal for outdoor enthusiasts. The kitchen features granite countertops, a large island with a built-in stove, and an open-concept floor plan perfect for entertaining. With bathrooms on all three floors, three bedrooms (with potential for more), main floor laundry, a separate entrance to the basement for investment purposes, and a fully fenced backyard, this home has it all. Additionally, it offers quick access to the light rail and an easy route out of town for mountain adventures. Don't miss out on this fantastic opportunity - book your viewing today!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
2 Storey
Total Living Area:
1,430 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
4,068 sq. ft.
Lot Frontage:
31'3¼"
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:
Levels:
Two
Total Rooms Above Grade:
7
Year built:
1921 (Age: 103)
Bedrooms:
4 (Above Grd: 4)
Bedrooms Above Grade:
4
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:3, Half:0)
Plan:
5380V
Heating:
Forced Air
Basement:
Separate/Exterior Entry, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Wood Siding
Structure Type:
House
Roof:
Asphalt
Ensuite:
No
Flooring:
Carpet, Laminate
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Off Street, Parking Pad
Parking Places:
3.0
Parking Total/Covered:
3 / -
Laundry Features:
Lower Level, Main Level
Sunalta
Built-In Oven, Dishwasher, Refrigerator, Washer/Dryer
Appliances in the lower-level suite include a stove, fridge, dishwasher, washer dryer
None Known
Floor
Type
Size
Other
Main Floor
Entrance
6'4" × 3'8"
Main Floor
Living Room
13'1" × 11'6"
Main Floor
Kitchen
12'10" × 11'4"
Main Floor
Bedroom - Primary
12'7" × 11'4"
Main Floor
Bedroom
11'9" × 8'10"
Main Floor
Sunroom/Solarium
8' × 6'2"
2nd Floor
Bedroom
11'6" × 11'2"
2nd Floor
Bedroom
12' × 11'7"
2nd Floor
Walk-In Closet
5' × 3'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
0' x 0'
2nd Floor
No
3
5'5" x 7'11"
Basement
No
4
7'10" x 6'3"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s)
Interior Features:
Breakfast Bar, Granite Counters, Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan, Separate Entrance, Storage
Exterior Features:
Playground, Private Entrance, Private Yard, Tennis Court(s)
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Back Yard, Triangular Lot, City Lot, Front Yard, Lawn, Greenbelt, Landscaped, Level, Private
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-CG d111
Listed Date:
Feb 01, 2024
Days on Mkt:
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Listed by Century 21 PowerRealty.ca
Data was last updated November 10, 2024 at 02:05 PM (UTC)
Area Statistics
Listings on market:
26
Avg list price:
$239,450
Min list price:
$169,900
Max list price:
$1,100,000
Avg days on market:
36
Min days on market:
2
Max days on market:
283
Avg price per sq.ft.:
$409.11
These statistics are generated based on the current listing's property type and located in Sunalta. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706