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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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226 10A Street NW
Hillhurst Calgary T2N 1W6

$975,000
Residential beds: 3 baths: 2.0 1,528 sq. ft. built: 1913

Main Photo: 226 10A Street NW in Calgary: Hillhurst Detached for sale : MLS®# A2174645
Photo 1: 226 10A Street NW in Calgary: Hillhurst Detached for sale : MLS®# A2174645
Photo 2: 226 10A Street NW in Calgary: Hillhurst Detached for sale : MLS®# A2174645
Photo 3: 226 10A Street NW in Calgary: Hillhurst Detached for sale : MLS®# A2174645
Photo 4: 226 10A Street NW in Calgary: Hillhurst Detached for sale : MLS®# A2174645
Photo 5: 226 10A Street NW in Calgary: Hillhurst Detached for sale : MLS®# A2174645
Photo 6: 226 10A Street NW in Calgary: Hillhurst Detached for sale : MLS®# A2174645
Photo 7: 226 10A Street NW in Calgary: Hillhurst Detached for sale : MLS®# A2174645
Photo 8: 226 10A Street NW in Calgary: Hillhurst Detached for sale : MLS®# A2174645
Photo 9: 226 10A Street NW in Calgary: Hillhurst Detached for sale : MLS®# A2174645
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Photo 12: 226 10A Street NW in Calgary: Hillhurst Detached for sale : MLS®# A2174645
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Photo 50: 226 10A Street NW in Calgary: Hillhurst Detached for sale : MLS®# A2174645
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2174645
Bedrooms:
3
Bathrooms:
2
Year Built:
1913
Nestled on a picturesque tree-lined street in the heart of historic Hillhurst, this lovely, renovated century-old 3 bedroom 2.5 story residence offers over 2000 sq ft of developed living space and exudes a timeless charm and character. Step inside and be greeted by the warm embrace of refinished red oak hardwood flooring, pocket doors, beautiful woodwork and high ceilings which showcase the living room with bay window and dining room illuminated by an elegant chandelier. The kitchen has been tastefully updated with quartz counter tops, plenty of storage space and stainless-steel appliances (including a new dishwasher). A cozy breakfast nook overlooking the back yard is a perfect spot to enjoy morning coffee or tea. The second level also features refinished hardwood floors, 3 bedrooms and an updated 4-piece bath. The primary bedroom enjoys access to a private west facing balcony as does one of the other 2 bedrooms. A spacious loft provides additional space for a bedroom, office or studio space. Basement development includes a large family/media room, 3-piece bath and laundry room with new washer and dryer. Other notable features include central air conditioning, beautifully updated west facing front porch with lighting and recently refinished back deck, perfect for barbequing and outside dining. Also enjoy the front and back balconies, back yard and raised garden boxes surrounded by majestic mature trees. Parking is a breeze with an updated double detached garage. The location is truly a gem, situated within a highly sought-after school district, and just steps away from trendy Kensington shops and restaurants, walking distance to Riley Park, the LRT, Bow River pathways, and downtown. Additionally, SAIT, the U of C, Foothills Hospital, and Children's Hospital are all just a short drive away.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 and Half Storey
Total Living Area:
1,527.56 sq. ft.
Main Level Finished Area:
693.25 sq. ft.
Upper Level Finished Area:
834.31 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
523.54 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
3,735 sq. ft.
Lot Frontage:
29'11½"
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:
2 and Half Storey
Total Rooms Above Grade:
7
Year built:
1913 (Age: 111)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
5609J
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Wood Frame, Wood Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
Central Air
Fireplaces:
0
Garage:
1
Garage Spaces:
1
Parking:
Double Garage Detached
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Basement
Hillhurst
Dishwasher, Dryer, Electric Stove, Garage Control(s), Refrigerator, Washer, Window Coverings
None
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
13'3" × 9'9"
Main Floor
Dining Room
14'9" × 10'10"
Main Floor
Breakfast Nook
8'2" × 7'
Main Floor
Living Room
13'11" × 13'9"
Upper Level
Bedroom - Primary
17'10" × 10'4"
Upper Level
Bedroom
10'10" × 9'8"
Upper Level
Bedroom
9'9" × 9'8"
3rd Floor
Loft
15' × 11'2"
Basement
Family Room
19'2" × 8'9"
Basement
Laundry
5'10" × 5'9"
Basement
Furnace/Utility Room
10'2" × 8'10"
Floor
Ensuite
Pieces
Other
Basement
No
3
0' x 0'
Suite
No
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Park, Playground, Pool, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Crown Molding, High Ceilings, Soaking Tub
Exterior Features:
Balcony, Lighting, Private Entrance, Private Yard
Patio And Porch Features:
Balcony(s), Deck, Front Porch
Lot Features:
Back Lane, Back Yard, Front Yard, Lawn, Landscaped, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-CG
Listed Date:
Oct 22, 2024
Days on Mkt:
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3D Tour

Listed by RE/MAX Real Estate (Central)
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
34
Avg list price:
$849,900
Min list price:
$259,900
Max list price:
$10,000,000
Avg days on market:
63
Min days on market:
5
Max days on market:
474
Avg price per sq.ft.:
$569.64
These statistics are generated based on the current listing's property type and located in Hillhurst. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706