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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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118 Cityscape Terrace NE
Cityscape Calgary T3N 0P1

$649,900
Residential beds: 4 baths: 4.0 1,501 sq. ft. built: 2015

Main Photo: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
Photo 1: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
Photo 2: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
Photo 3: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
Photo 4: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
Photo 5: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
Photo 6: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
Photo 7: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
Photo 8: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
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Photo 12: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
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Photo 24: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
Photo 25: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
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Photo 29: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
Photo 30: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
Photo 31: 118 Cityscape Terrace NE in Calgary: Cityscape Detached for sale : MLS®# A2159327
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2159327
Bedrooms:
4
Bathrooms:
4
Year Built:
2015
ALL DAMAGED SIDING HAVE BEEN REPLACED AFTER THE HAIL DAMAGE! Welcome to this 2 story home in highly cherished community of Cityscape in NE Calgary! This single family home boasts a double detached garage and offers an ideal open and bright floor plan. Total living area is over 2100 sf with total 4 bedrooms and 3.5 bath. 3 generously-sized bedrooms and a laundry room on the second floor, this home is designed for comfortable living. The master bedroom features a 3-piece ensuite bathroom, while an additional 3-piece bathroom serves the other bedrooms. The main floor showcases a stunning open floor layout , kitchen, complete with stainless steel appliances and central island. Also a large pantry and 2pc bath on the main. Large size living room and dinning area with cozy gas fireplace. Step outside to enjoy a private backyard, and a concrete patio perfect for entertaining and relaxing. The 3 yr old and fully finished basement offers a huge family room, a bedroom and a beautiful bathroom. Double garage. Large concrete area in the back yard and both sides of the house. 9' ceiling on and main and 8.5' ceiling on the second floor. Ideally located. 5 minutes walking distance to bus stops, ponds, park, and playground. 10 minutes walking distance to supermarket, shops, restaurant. You'll find everything you need just moments away. Quick possession day is available!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
1,501 sq. ft.
Main Level Finished Area:
750.7 sq. ft.
Upper Level Finished Area:
750.7 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
2,529 sq. ft.
Lot Frontage:
28'6½"
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:
6
Year built:
2015 (Age: 9)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
1610289
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Laminate
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Laundry Room
Cityscape
Dishwasher, Dryer, Electric Stove, Garage Control(s), Range Hood, Refrigerator, Washer, Window Coverings
N/A
None Known
Floor
Type
Size
Other
Main Floor
Living Room
14'4" × 12'5"
Main Floor
Dining Room
14'3" × 9'4"
Main Floor
Kitchen
14'3" × 9'6"
2nd Floor
Bedroom - Primary
14'7" × 10'11"
2nd Floor
Bedroom
10'5" × 9'9"
2nd Floor
Bedroom
11'8" × 10'3"
Lower Level
Family Room
16'10" × 13'8"
Lower Level
Bedroom
16'5" × 7'10"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
2' x 4'
2nd Floor
Yes
3
4'11" x 8'
2nd Floor
No
4
4'10" x 10'4"
Lower Level
No
3
4'11" x 7'10"
Title to Land:
Fee Simple
Community Features:
Lake, Park, Playground, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Central Vacuum, Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan
Exterior Features:
Other
Patio And Porch Features:
Front Porch
Lot Features:
Back Lane, Back Yard, City Lot, Street Lighting, Paved, Subdivided
Num. of Parcels:
0
Fencing:
Partial
Region:
Calgary
Zone:
CAL Zone NE
Zoning:
DC
Listed Date:
Aug 20, 2024
Days on Mkt:
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Listed by Grand Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
59
Avg list price:
$515,000
Min list price:
$325,000
Max list price:
$899,900
Avg days on market:
28
Min days on market:
2
Max days on market:
124
Avg price per sq.ft.:
$403.98
These statistics are generated based on the current listing's property type and located in Cityscape. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706