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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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  2. Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

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When contacting me, please ensure to include the property address or MLS® number for the listing you are interested in. I look forward to hearing from you!

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58 Erin Woods Court SE
Erin Woods Calgary T2B 3V6

$455,000
Residential beds: 3 baths: 2.0 921 sq. ft. built: 2005

Main Photo: 58 Erin Woods Court SE in Calgary: Erin Woods Row/Townhouse for sale : MLS®# A2117372
Photo 1: 58 Erin Woods Court SE in Calgary: Erin Woods Row/Townhouse for sale : MLS®# A2117372
Photo 2: 58 Erin Woods Court SE in Calgary: Erin Woods Row/Townhouse for sale : MLS®# A2117372
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Photo 42: 58 Erin Woods Court SE in Calgary: Erin Woods Row/Townhouse for sale : MLS®# A2117372
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2117372
Bedrooms:
3
Bathrooms:
2
Year Built:
2005
Welcome to your vibrant oasis in the heart of Erin Woods Community! Nestled conveniently near Stoney Trail Highway, this delightful townhouse offers the perfect blend of modern comfort and suburban charm. Step into this inviting abode and discover a spacious layout boasting three cozy bedrooms and two full bathrooms, providing ample space for you and your loved ones to thrive. Whether it's peaceful slumber or refreshing showers, this home caters to your every need. The heart of the home lies in its expansive backyard, offering a private retreat where you can soak up the sun, entertain guests, or simply unwind after a busy day. With plenty of room for gardening, playtime, or your furry friends to roam, this outdoor haven is sure to be the envy of the neighborhood. No need to worry about parking woes, as this gem comes complete with not one, but two titled parking stalls, ensuring convenience and peace of mind for you and your guests. Perfectly situated near schools, this residence is a hub of activity and learning, making it an ideal setting for families with young scholars or those seeking a vibrant community atmosphere. Don't miss your chance to call this charming townhouse your own – seize the opportunity to embrace comfortable living in a prime location! Schedule your viewing today and let the adventure begin!
Property Type:
Residential
Property Sub Type:
Row/Townhouse
Condo Type:
Bare Land
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
921.3 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$286.81
Condo Fee Includes:
Insurance, Maintenance Grounds, Reserve Fund Contributions, Snow Removal
HOA Fee Includes:
Lot Area:
84 sq. ft.
Lot Frontage:
4'7"
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:
Entry Level:
1
Levels:
Two
End Unit:
2+ Common Walls
Total Rooms Above Grade:
4
Year built:
2005 (Age: 19)
Bedrooms:
3 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
1
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0510533
Heating:
Central, Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Other, Vinyl Siding
Structure Type:
Five Plus
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Ceramic Tile, Laminate
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Stall
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement
Condo Fee Frequency:
Monthly
Compass Erin Woods
Erin Woods
Parking, Visitor Parking
Dishwasher, Electric Stove, Refrigerator, Washer/Dryer, Window Coverings
N/A
Call Lister
Restrictions, Cats OK, Dogs OK
Floor
Type
Size
Other
Main Floor
Kitchen With Eating Area
14'8" × 10'8"
Main Floor
Living Room
16'4" × 11'11"
2nd Floor
Bedroom - Primary
11'7" × 11'3"
2nd Floor
Bedroom
10'11" × 10'10"
Basement
Family Room
10'8" × 10'2"
Basement
Bedroom
10'10" × 10'8"
Floor
Ensuite
Pieces
Other
2nd Floor
No
4
8' x 6'9"
Basement
No
4
8'1" x 6'9"
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Ceiling Fan(s), Quartz Counters, Sump Pump(s)
Exterior Features:
Other
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Back Yard
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone E
Zoning:
M-CG d57
Listed Date:
Mar 24, 2024
Days on Mkt:
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Listed by First Place Realty
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
15
Avg list price:
$469,900
Min list price:
$185,000
Max list price:
$639,900
Avg days on market:
15
Min days on market:
3
Max days on market:
180
Avg price per sq.ft.:
$406.67
These statistics are generated based on the current listing's property type and located in Erin Woods. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706