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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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4417 17 Avenue SE
Forest Lawn Calgary T2A 0T5

$798,000
Residential beds: 3 baths: 1.0 914 sq. ft. built: 1952

Main Photo: 4417 17 Avenue SE in Calgary: Forest Lawn Detached for sale : MLS®# A2141462
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2141462
Bedrooms:
3
Bathrooms:
1
Year Built:
1952
This is a great opportunity for a builder. It is a corner-over-size lot. Zoning MU-1 f4.5h20 The MU-1 district is for commercial and residential uses in street-oriented buildings. The district allows both commercial and residential uses at street level. The City still needs to review your building permit application though. The current tenant has been notified to vacate the property by the end of July 2024. But consider this as land value only. The property and appliances are to be sold in as-is and where-is condition.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bungalow
Total Living Area:
914.4 sq. ft.
Main Level Finished Area:
914.4 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
6,490 sq. ft.
Lot Frontage:
56'11⅞"
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:
North
Reg. Size:
Reg. Size Includes:
Levels:
One
Total Rooms Above Grade:
4
Year built:
1952 (Age: 72)
Bedrooms:
3 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
1
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
1348GJ
Heating:
Forced Air, Natural Gas
Basement:
Full, Partially Finished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Linoleum
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
462
Parking:
Single Garage Detached
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Basement
Forest Lawn
Electric Stove, Refrigerator
None
None Known, See Remarks
Floor
Type
Size
Other
Main Floor
Living Room
9'10" × 9'10"
Main Floor
Bedroom
9'2" × 9'2"
Main Floor
Kitchen
9'10" × 9'2"
Main Floor
Bedroom - Primary
9'10" × 9'2"
Basement
Bedroom
9'2" × 9'2"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
Title to Land:
Fee Simple
Community Features:
Shopping Nearby, Sidewalks, Street Lights
Interior Features:
See Remarks
Exterior Features:
None
Patio And Porch Features:
None
Lot Features:
Back Lane, Corner Lot
Num. of Parcels:
0
Fencing:
Partial
Region:
Calgary
Zone:
CAL Zone E
Zoning:
MU-1 f4.5h20
Listed Date:
Jun 14, 2024
Days on Mkt:
  • Photo 1: 4417 17 Avenue SE in Calgary: Forest Lawn Detached for sale : MLS®# A2141462
    Photo 1 of 1
Listed by CIR Realty
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
23
Avg list price:
$519,999
Min list price:
$165,000
Max list price:
$798,000
Avg days on market:
22
Min days on market:
2
Max days on market:
356
Avg price per sq.ft.:
$550.41
These statistics are generated based on the current listing's property type and located in Forest Lawn. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706