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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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405 1410 2 Street SW
Beltline Calgary T2R 1R1

$375,000
Residential beds: 2 baths: 2.0 785 sq. ft. built: 1995

Main Photo: 405 1410 2 Street SW in Calgary: Beltline Apartment for sale : MLS®# A2175109
Photo 1: 405 1410 2 Street SW in Calgary: Beltline Apartment for sale : MLS®# A2175109
Photo 2: 405 1410 2 Street SW in Calgary: Beltline Apartment for sale : MLS®# A2175109
Photo 3: 405 1410 2 Street SW in Calgary: Beltline Apartment for sale : MLS®# A2175109
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Photo 5: 405 1410 2 Street SW in Calgary: Beltline Apartment for sale : MLS®# A2175109
Photo 6: 405 1410 2 Street SW in Calgary: Beltline Apartment for sale : MLS®# A2175109
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2175109
Bedrooms:
2
Bathrooms:
2
Year Built:
1995
Coronation Place – ONE unique designer building, known for 10’+ height, gallery-loft style apartments, and situated in the heart of the Beltline. Apartment 405 – ONE of only twelve units with 180-degree unobstructed downtown views, overlooking Haultain Tennis Courts/Park, AND the first property including this singular exposure in the past two years, to be offered for new ownership at 1410 2 Street SW. Prime opportunities are few and far between, but the unicorn combination is adding stylish high-end upgrades, fresh paint, new appliances, a gorgeous vaulted open-concept layout (almost 800 square feet, contemporary eat-in kitchen, oversized living space, 2 bedrooms, 2 full bathrooms, walk-through dressing room closet, ensuite bathroom, in-suite laundry room, large windows, wide balcony) and the building itself has secure, underground titled parking with heated interior and garage ramp, plenty of bicycle storage, spacious personal locker rooms, full maintenance, dual security entrances, healthy management and large reserve fund taking care of only 69 total residences. VIEW the iGuide 3D Tour link, Detailed Floor Plans (two options for good measure), and some of many potential Virtually Furnished photos to show off the flexible plan. The layout invites creative flair – a deep wide welcoming Foyer (perfect for seasonal gatherings), a marble-counter-accented modern white kitchen, a 6-person full slab eating or presentation service island, and a bright living room that includes double garden doors, transoms and sidelight windows, all graced with natural hardwood flooring through the two independent bedrooms on each side. Recessed lighting, crystal chandeliers, updated plumbing and hardware and stainless steel main appliances, all combine to offer a bright and inviting environment, and the finishings are versatile to inexpensive adjustments for taste. Coronation Place is surrounded by Calgary’s prestigious core locales: the Design District, Downtown’s West End and East Village, Chinatown, Sunalta, Lower Mount Royal, Mission and Cliff Bungalow, and offers some of the best restaurants for all palettes, shopping for all budgets, pastimes for the activity-oriented, and schooling opportunities, that the city has to provide. Lots of examples are attached in the listing, as well as all Condominium Documents, ready for review. The City Core Communities are a mecca for boutique health circuits as well: pilates, spin, boxing, barre and full work-out facilities. Professionals not wanting to commute will find the location ideal, all ages and walks of life! There are no comparable listings, with these finishings, equal view and park location, unique layout elements and curb appeal style - one of a kind in every way! Second fridge will be removed if not purchased with apartment.
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:
785.22 sq. ft.
Main Level Finished Area:
785.22 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$577.02
Condo Fee Includes:
Common Area Maintenance, Gas, Heat, Insurance, Interior Maintenance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Security, Sewer, Snow Removal, Trash, 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:
North
Floor Location:
Other
Entry Level:
4
Stories Total:
5
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
1995 (Age: 29)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
9610209
Heating:
Boiler, Combination, Make-up Air, Heat Pump, Hot Water
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stucco, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Roof:
Asphalt, Membrane, Tar/Gravel
Ensuite:
Yes
Flooring:
Hardwood, Tile, Wood
Cooling:
Other
Fireplaces:
0
Garage:
0
Garage Spaces:
1
Parking:
Off Street, Parkade, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Coronation Place
Beltline
Bicycle Storage, Elevator(s), Parking, Secured Parking, Snow Removal, Storage, Trash
Dishwasher, Electric Range, Microwave Hood Fan, Refrigerator, Washer/Dryer Stacked, Window Coverings
2nd Refrigerator (will be removed if not wanted), Chandeliers, Wall-Hung Mirrors
Encroachment, Restrictive Covenant
Restrictions, Cats OK, Dogs OK
Floor
Type
Size
Other
Main Floor
Foyer
8'10" × 7'1"
Main Floor
Eat in Kitchen
13'1" × 12'2"
Main Floor
Living Room
15'6" × 13'3"
Main Floor
Balcony
11'4" × 4'10"
Main Floor
Bedroom - Primary
12'6" × 10'1"
Main Floor
Bedroom
12' × 7'11"
Main Floor
Laundry
7'4" × 5'1"
Main Floor
Walk-In Closet
7'5" × 4'5"
Main Floor
Pantry
2'9" × 1'9"
Main Floor
Storage
6'7" × 1'9"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
7' x 7'4"
Main Floor
No
3
5'9" x 6'7"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Breakfast Bar, Chandelier, Elevator, French Door, High Ceilings, Kitchen Island, Natural Woodwork, No Animal Home, No Smoking Home, Open Floorplan, Pantry, Soaking Tub, Stone Counters, Vaulted Ceiling(s), Walk-In Closet(s)
Exterior Features:
Balcony, Private Entrance, Uncovered Courtyard
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
CC-MH
Listed Date:
Nov 02, 2024
Days on Mkt:
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Virtual Tour

3D Tour

Virtual Tour

Listed by CIR Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
235
Avg list price:
$385,000
Min list price:
$188,000
Max list price:
$2,900,000
Avg days on market:
43
Min days on market:
1
Max days on market:
448
Avg price per sq.ft.:
$503.8
These statistics are generated based on the current listing's property type and located in Beltline. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706