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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.

  3. Email Address: Reach out to me at Diane for any inquiries or to request additional information.

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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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116 Sunrise Heath
Sunset Ridge Cochrane T4C 0H4

$924,900
Residential beds: 4 baths: 4.0 2,347 sq. ft. built: 2024

Main Photo: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 1: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 2: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 3: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 4: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 5: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 6: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 7: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 8: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 9: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 10: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 11: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 12: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 13: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 14: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 15: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 16: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 17: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 18: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 19: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 20: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Photo 21: 116 Sunrise Heath: Cochrane Detached for sale : MLS®# A2096022
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2096022
Bedrooms:
4
Bathrooms:
4
Year Built:
2024
Welcome to the Mia! A unique floorpan that will have you falling in love, from the moment you walk in! A 4 level split, offering the ultimate in functionality. With a bright open concept, a gourmet kitchen, 9’0” main floor ceiling height and a colour palette on trend! In the kitchen there is ample counter space, with large island and flush eating bar, finished with quartz countertops. A walk-in pantry with solid, painted shelving. Large and bright dining room with plenty of space to gather with family and friends. It offers a main floor office making it convenient to work from home. As you head upstairs you will find a spacious second storey bonus room. The oversized windows throughout make this home feel bright and airy. Hide the mess in a dedicated mudroom, complete with built-in lockers and generous front closet. Second floor laundry room featuring a laundry tub and oversized closet. Escape to the spa-like owner’s retreat featuring dual vanities, complete with a walk-in closet and custom built ins. Relax in your oversized shower, or take a bath in your free standing soaker tub. This home will be a fully finished walkout, backing the pathways with no neighbours directly behind!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
4 Level Split
Total Living Area:
2,346.96 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
3,794 sq. ft.
Lot Frontage:
0'
Lot Details:
34.01 X 34 metres
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:
Northwest
Reg. Size:
Reg. Size Includes:
Floor Location:
Ground
Levels:
4 Level Split
Total Rooms Above Grade:
8
Year built:
2024 (Age: 0)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
2210972
Heating:
Forced Air, Natural Gas
Basement:
Full, Unfinished, Walk-Out To Grade
Foundation:
Poured Concrete
New Constr.:
Yes
Construction Material:
Cement Fiber Board, Concrete, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Tile, Vinyl Plank
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas, Mantle, Tile
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Laundry Room, Upper Level
HOA Fee:
$150.00
Sunset Ridge
Other
Dishwasher, Microwave, Refrigerator, Range Hood, Built-In Gas Range, Built-In Oven
N/A
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
16'7" × 11'9"
Main Floor
Dining Room
13'3" × 11'7"
Main Floor
Living Room
14' × 13'3"
Main Floor
Office
7'6" × 5'6"
2nd Floor
Bonus Room
15'2" × 14'3"
2nd Floor
Laundry
14'4" × 9'5"
2nd Floor
Bedroom - Primary
14'11" × 13'3"
2nd Floor
Bedroom
12'11" × 9'10"
2nd Floor
Bedroom
12'3" × 9'10"
Lower Level
Mud Room
7'4" × 5'6"
Lower Level
Foyer
6'1" × 5'6"
Basement
Game Room
24'3" × 12'8"
Basement
Storage
14'6" × 6'1"
Basement
Bedroom
10'8" × 10'4"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
4'11" x 5'8"
2nd Floor
Yes
5
10' x 11'1"
2nd Floor
No
4
5'6" x 11'4"
Basement
No
4
5' x 9'4"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
High Ceilings, Walk-In Closet(s), Breakfast Bar, Built-in Features, Kitchen Island, No Animal Home, No Smoking Home, Pantry, Quartz Counters, Double Vanity, Wet Bar
Exterior Features:
None
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Backs on to Park/Green Space
Num. of Parcels:
0
Fencing:
None
Region:
Rocky View County
Zoning:
R-LD
Listed Date:
Dec 27, 2023
Days on Mkt:
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Listed by eXp Realty
Data was last updated November 10, 2024 at 02:05 PM (UTC)
Area Statistics
Listings on market:
186
Avg list price:
$659,900
Min list price:
$249,900
Max list price:
$1,375,000
Avg days on market:
32
Min days on market:
1
Max days on market:
396
Avg price per sq.ft.:
$371.26
These statistics are generated based on the current listing's property type and located in Cochrane. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706