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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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140 Arbour Butte Road NW
Arbour Lake Calgary T3G 4N6

$765,000
Residential beds: 4 baths: 4.0 2,065 sq. ft. built: 1998

Main Photo: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 1: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 2: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 3: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 4: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 5: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 6: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 7: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 8: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 9: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 10: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 11: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 12: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 13: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
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Photo 16: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 17: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
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Photo 20: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 21: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 22: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 23: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 24: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 25: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
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Photo 33: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 34: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 35: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Photo 36: 140 Arbour Butte Road NW in Calgary: Arbour Lake Detached for sale : MLS®# A2151934
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2151934
Bedrooms:
4
Bathrooms:
4
Year Built:
1998
Welcome to 140 Arbour Butte Rd NW Calgary! This charming detached home is nestled in the serene lake community of Arbour Lake in Calgary Alberta. When entering this spacious residence you are welcomed with 4 generously sized bedrooms and 4 well-appointed bathrooms, offering ample space for both family and guests. The open-plan living areas are designed with comfort and style in mind, featuring a cozy fireplace, modern finishes, and massive windows letting in a surplus of natural light. In the heart of the home is the expansive kitchen, equipped with high-end appliances, a large island, and custom cabinetry, making it a perfect space for both everyday meals and entertaining. Adjacent to the kitchen, you'll find a bright and airy dining area that opens onto a private backyard—ideal for outdoor gatherings and relaxation. Circling around to the front of the home you will find your attached double garage which provides convenient parking and additional storage. Speaking of additional storage this home also has the option for additional RV parking in the back yard. The fence is equipped with a dual gate system which allows plenty of space to park or store your extracurricular activities. The home is situated within a vibrant lake community, where residents enjoy access to picturesque lake views, walking trails, and recreational amenities. This property combines modern living with the tranquility of a lakeside lifestyle, making it a perfect place to call home. Book your appointment today!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
2,064.65 sq. ft.
Main Level Finished Area:
1,162.35 sq. ft.
Upper Level Finished Area:
902.3 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
4,725 sq. ft.
Lot Frontage:
14'10½"
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:
Two
Total Rooms Above Grade:
9
Year built:
1998 (Age: 26)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
9712544
Heating:
Central, Fireplace(s)
Basement:
Full, Partially Finished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Concrete, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Cork, Hardwood, See Remarks, Tile
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas, Living Room
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
5.0
Parking Total/Covered:
5 / -
Laundry Features:
Main Level
HOA Fee:
$262.00
Arbour Lake
Beach Access, Other, Park
Dishwasher, Electric Stove, Garage Control(s), Microwave, Oven, Washer/Dryer, Wine Refrigerator
none
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
14'11" × 12'8"
Main Floor
Dining Room
9'6" × 8'6"
Main Floor
Living Room
12'11" × 12'11"
Main Floor
Family Room
14'11" × 12'11"
Main Floor
Office
12'11" × 8'11"
Main Floor
Laundry
7'10" × 5'7"
Upper Level
Bonus Room
9'6" × 7'11"
2nd Floor
Bedroom - Primary
15'1" × 12'6"
2nd Floor
Bedroom
10'4" × 10'3"
2nd Floor
Bedroom
11'6" × 10'11"
Basement
Storage
12'6" × 6'2"
Basement
Bedroom
20'1" × 17'10"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
4'3" x 4'8"
2nd Floor
No
4
4'11" x 7'11"
2nd Floor
Yes
4
7'8" x 11'11"
Basement
No
3
6'6" x 9'1"
Title to Land:
Fee Simple
Community Features:
Lake, Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Built-in Features, Ceiling Fan(s), Central Vacuum, Jetted Tub, Kitchen Island, Laminate Counters, No Smoking Home, Open Floorplan, Pantry, Storage, Vaulted Ceiling(s), Walk-In Closet(s)
Exterior Features:
BBQ gas line, Lighting, Private Yard, Storage
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Back Yard, Close to Clubhouse, Corner Lot, Few Trees, Front Yard, Lawn, Landscaped, Street Lighting
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone NW
Zoning:
R-C1N
Listed Date:
Jul 26, 2024
Days on Mkt:
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Listed by Real Broker
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
26
Avg list price:
$490,885
Min list price:
$309,900
Max list price:
$899,900
Avg days on market:
38
Min days on market:
2
Max days on market:
145
Avg price per sq.ft.:
$381.45
These statistics are generated based on the current listing's property type and located in Arbour Lake. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706