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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.

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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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303 530 12 Avenue SW
Beltline Calgary T2R 0B1

$499,900
Residential beds: 2 baths: 2.0 1,044 sq. ft. built: 2006

Main Photo: 303 530 12 Avenue SW in Calgary: Beltline Apartment for sale : MLS®# A2177866
Photo 1: 303 530 12 Avenue SW in Calgary: Beltline Apartment for sale : MLS®# A2177866
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Photo 39: 303 530 12 Avenue SW in Calgary: Beltline Apartment for sale : MLS®# A2177866
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2177866
Bedrooms:
2
Bathrooms:
2
Year Built:
2006
"Castello", located in Calgary's downtown design district, offers the "ultimate urban lifestyle", complete with this 2 bedroom, 2 bathroom property! With its excellent location, you’ll be able to enjoy the close proximity to all the numerous amenities and services, including bikes lanes, C-train access, gyms, restaurants, Core shopping centre, plus trendy 17th Avenue! This beautiful 3rd floor 1044 SqFt north facing property has two large bedrooms, two full bathrooms, built in desk area and large "view" balcony. This suite is equipped with sleek modern finishings with an open concept, quartz counters, plenty of cabinet space, stainless steel appliances, dishwasher and microwave/hood vent combo. Spacious master with spa-like ensuite is complete with a large walk-in closet. The second bedroom is adjacent to the bathroom, which has a large soaker tub. Full size in-suite washer & dryer, floor-to-ceiling windows, new laminate flooring, r/I ceiling speakers. Take advantage of the amenities Castello has to offer, including a well appointed gym, bike storage and visitor parking. Titled secure underground heated parking stall and tilted storage locker. This is a perfect property for the individual looking for a stylish home with an inner city lifestyle!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
High-Rise (5+)
Total Living Area:
1,044 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$657.66
Condo Fee Includes:
Caretaker, Common Area Maintenance, Heat, Insurance, Parking, Professional Management, Reserve Fund Contributions, Residential Manager, Security, Sewer, 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:
South
Reg. Size:
Reg. Size Includes:
Unit Exposure:
North
Floor Location:
Other
Entry Level:
3
Stories Total:
18
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
2006 (Age: 18)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:1, Half:1)
Plan:
0812418
Heating:
Fan Coil, Natural Gas
New Constr.:
No
Construction Material:
See Remarks
Structure Type:
High Rise (5+ stories)
Ensuite:
Yes
Flooring:
Laminate
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Parkade, Titled
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Castello
Beltline
Elevator(s), Fitness Center, Parking, Secured Parking, Visitor Parking
Bar Fridge, Dishwasher, Disposal, Electric Range, Microwave Hood Fan, Refrigerator, Washer/Dryer Stacked, Window Coverings
N/A
Pet Restrictions or Board approval Required
Restrictions
Floor
Type
Size
Other
Main Floor
Living Room
17'7" × 16'
Main Floor
Foyer
14'3" × 9'
Main Floor
Kitchen
10'6" × 8'11"
Main Floor
Laundry
5'5" × 2'6"
Main Floor
Bedroom - Primary
14'10" × 9'11"
Main Floor
Bedroom
14' × 9'11"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 9'10"
Main Floor
Yes
2
9'8" x 7'2"
Title to Land:
Fee Simple
Community Features:
Other, Shopping Nearby, Street Lights
Interior Features:
No Animal Home, No Smoking Home
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
DC
Listed Date:
Nov 08, 2024
Days on Mkt:
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Listed by eXp 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