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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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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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129 Millrise Square SW
Millrise Calgary T2Y 4B8

$650,000
Residential beds: 4 baths: 3.0 1,840 sq. ft. built: 2001

Main Photo: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 1: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 2: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 3: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 4: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 5: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 6: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 7: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 8: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 9: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 10: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 11: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 12: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 13: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 14: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 15: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 16: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 17: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 18: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 19: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 20: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 21: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 22: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 23: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 24: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 25: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 26: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 27: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 28: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Photo 29: 129 Millrise Square SW in Calgary: Millrise Detached for sale : MLS®# A2163085
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2163085
Bedrooms:
4
Bathrooms:
3
Year Built:
2001
Huge Price Adjustment – Motivated Seller Looking for Offers! Welcome to this spacious 2 story well maintained home located on a quiet street in the desirable community of Millrise !!! You will notice the east facing back yard and abundance of natural light as you enter the home. The main floor has a great layout with large rooms, including formal living room, a kitchen with plenty of maple cabinets and countertop space, The family room is equipped with a cozy gas fireplace, A 2-piece bath and laundry room complete the main floor. Oak hard wood floor through out this main floor. Upstairs are 3 good-sized bedrooms, The master bedroom has a large walk-in closet and 4-piece ensuite, stand-alone soaker tub and separate shower. The fully finished basement adds extra living space in featuring a large rec room with gas fireplace (set on a thermostat), flex room perfect for a home office, and a storage area. The fenced and landscaped backyard contains an aggregate patio great for BBQ and back lane access. Close to bus stops, shopping, and just minutes to the C-train. Short walk to our lady of peace school and close to Fish Creek Provincial Park and much more! New gutters (2022) , Newer roof (2015). Mountain view in one bedroom. There is Radon mitigation system installed in the basement mechanical room. Book your private showing today as this property won't last long.
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:
1,840 sq. ft.
Main Level Finished Area:
939 sq. ft.
Upper Level Finished Area:
901 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
939 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
3,929 sq. ft.
Lot Frontage:
37'2"
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:
West
Reg. Size:
Reg. Size Includes:
Levels:
Two
Total Rooms Above Grade:
7
Year built:
2001 (Age: 23)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
0012795
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Laminate, Tile
Cooling:
None
Fireplaces:
2
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Laundry Room
Millrise
Dishwasher, Dryer, Electric Stove, Garage Control(s), Refrigerator, Washer, Window Coverings
N/A
None Known
Floor
Type
Size
Other
Main Floor
Living Room
15'2" × 11'7"
Main Floor
Family Room
16'3" × 11'7"
Main Floor
Kitchen
16'3" × 8'9"
Main Floor
Dining Room
13'8" × 6'7"
Main Floor
Laundry
9'10" × 7'6"
Upper Level
Bedroom - Primary
16'7" × 11'10"
Upper Level
Bedroom
11'7" × 11'5"
Upper Level
Bedroom
11'1" × 10'9"
Basement
Bedroom
11'5" × 10'11"
Floor
Ensuite
Pieces
Other
Upper Level
No
2
4'11" x 5'9"
Upper Level
No
4
7'6" x 8'1"
Upper Level
Yes
4
9'10" x 9'10"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby
Interior Features:
Bookcases, No Animal Home, No Smoking Home
Exterior Features:
Playground
Patio And Porch Features:
Patio
Lot Features:
Back Lane, Level, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone S
Zoning:
R-C1N
Listed Date:
Sep 05, 2024
Days on Mkt:
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Listed by TrustPro Realty
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
17
Avg list price:
$540,000
Min list price:
$272,500
Max list price:
$699,900
Avg days on market:
16
Min days on market:
2
Max days on market:
91
Avg price per sq.ft.:
$371.9
These statistics are generated based on the current listing's property type and located in Millrise. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706