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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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902 650 10 Street SW
Downtown West End Calgary T2P 5G4

$375,000
Residential beds: 2 baths: 2.0 836 sq. ft. built: 2000

Main Photo: 902 650 10 Street SW in Calgary: Downtown West End Apartment for sale : MLS®# A2174078
Photo 1: 902 650 10 Street SW in Calgary: Downtown West End Apartment for sale : MLS®# A2174078
Photo 2: 902 650 10 Street SW in Calgary: Downtown West End Apartment for sale : MLS®# A2174078
Photo 3: 902 650 10 Street SW in Calgary: Downtown West End Apartment for sale : MLS®# A2174078
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Photo 23: 902 650 10 Street SW in Calgary: Downtown West End Apartment for sale : MLS®# A2174078
Photo 24: 902 650 10 Street SW in Calgary: Downtown West End Apartment for sale : MLS®# A2174078
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2174078
Bedrooms:
2
Bathrooms:
2
Year Built:
2000
Welcome to 902, 650 10 Street SW – A Riverfront Gem in the Heart of Calgary. Discover urban living at its finest in this stunning 2-bedroom, 2-bathroom condo, perched on the 9th floor of the renowned Axxis building, offering breathtaking views of the Bow River. Perfectly located just two blocks from the scenic Bow River pathways, one block from the C-Train station, and a 10-minute walk to grocery stores and some of Calgary’s top dining spots, including Bridgette Bar, Wayne’s Bagels, and Noble Pie. The Axxis is a well-managed, pet-friendly building that boasts an array of premium amenities, including a fully equipped fitness center, a spacious social room with a kitchen for entertaining, a serene outdoor courtyard, visitor parking, and secure bike storage. Step inside this bright and airy west-facing unit, where freshly painted neutral tones complement the open-concept living space. The spacious living room, complete with a cozy gas fireplace, flows seamlessly into the kitchen, featuring a large island with an eating bar—perfect for casual dining or entertaining. Luxury vinyl plank flooring and soaring 9-foot ceilings add to the home's stylish appeal, while the generous west-facing balcony invites you to enjoy sunset views. The primary bedroom offers a peaceful retreat, tucked away from the main living area, with ample closet space and a private 4-piece ensuite. The second bedroom is versatile, making it ideal for a home office or as a guest room for roommates. This unit also includes the convenience of an underground heated parking stall and additional storage, ensuring comfort and practicality in every detail.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Apartment
Total Living Area:
836 sq. ft.
Main Level Finished Area:
836 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$609.01
Condo Fee Includes:
Amenities of HOA/Condo, Common Area Maintenance, Gas, Heat, Maintenance Grounds, Professional Management, Reserve Fund Contributions, Snow Removal, Water
HOA Fee Includes:
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:
Unit Exposure:
West
Floor Location:
Other
Entry Level:
9
Stories Total:
25
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
2000 (Age: 24)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0012669
Heating:
Baseboard
New Constr.:
No
Construction Material:
Brick, Concrete
Structure Type:
High Rise (5+ stories)
Ensuite:
Yes
Flooring:
Tile, Vinyl Plank
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas
Garage:
0
Parking:
Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Axxis
Downtown West End
Bicycle Storage, Community Gardens, Elevator(s), Fitness Center, Parking, Recreation Room, Secured Parking, Storage, Visitor Parking
Dryer, Electric Stove, Range Hood, Refrigerator, Washer, Window Coverings
N/A
Pet Restrictions or Board approval Required
Restrictions, Yes
Floor
Type
Size
Other
Main Floor
Bedroom
14'3" × 10'11"
Main Floor
Bedroom
13'3" × 10'4"
Main Floor
Dining Room
10'11" × 5'9"
Main Floor
Kitchen
12'3" × 11'4"
Main Floor
Living Room
13'10" × 12'7"
Floor
Ensuite
Pieces
Other
Main Floor
No
3
4'11" x 8'1"
Main Floor
Yes
4
7'11" x 6'2"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
High Ceilings, Open Floorplan
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Fencing:
None
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
DC
Listed Date:
Oct 19, 2024
Days on Mkt:
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Listed by RE/MAX First
Data was last updated November 14, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
25
Avg list price:
$384,900
Min list price:
$249,900
Max list price:
$1,199,000
Avg days on market:
57
Min days on market:
2
Max days on market:
153
Avg price per sq.ft.:
$411.41
These statistics are generated based on the current listing's property type and located in Downtown West End. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706