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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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123 Edgepark Boulevard NW
Edgemont Calgary T3A 4A8

$880,000
Residential beds: 6 baths: 5.0 2,108 sq. ft. built: 1983

Main Photo: 123 Edgepark Boulevard NW in Calgary: Edgemont Detached for sale : MLS®# A2147462
Photo 1: 123 Edgepark Boulevard NW in Calgary: Edgemont Detached for sale : MLS®# A2147462
Photo 2: 123 Edgepark Boulevard NW in Calgary: Edgemont Detached for sale : MLS®# A2147462
Photo 3: 123 Edgepark Boulevard NW in Calgary: Edgemont Detached for sale : MLS®# A2147462
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2147462
Bedrooms:
6
Bathrooms:
5
Year Built:
1983
Welcome to this wonderful 6 bedrooms & 5 full baths house in Edgemont. This fully developed house with about 3,000 sqft living space, located in a highly desirable and family friendly area, the huge back yard directly leading to a playground just a few steps away. Walk distance to Tom Baines School and Superstore; drive minutes to the Nose hill park, Edgemont School, Churchill High School, and University of Calgary. It has been freshly painted and many upgrades: Newly roof in 2023, floors in 2023, balcony 2023, all Toilets in 2023, basement upgrade in 2024, main kitchen upgrade in 2024, and upper level upgrade in 2024. This property is the perfect home for a big family or investors, separate furnace in the second floor with one bedroom and full bath that could became the second suite with permit. Basement is fully upgrades with two bedrooms, Two full bathroom, laundry and Kitchen. Book a showing to come in and view this beautiful home, you won't be disappointed!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
1 and Half Storey
Total Living Area:
2,107.9 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
7,741 sq. ft.
Lot Frontage:
48'7¼"
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:
Northeast
Reg. Size:
Reg. Size Includes:
Levels:
Two
Total Rooms Above Grade:
8
Year built:
1983 (Age: 41)
Bedrooms:
6 (Above Grd: 4)
Bedrooms Above Grade:
4
Bedrooms Below Grade:
2
Bathrooms:
5.0 (Full:5, Half:0)
Plan:
8111252
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stucco, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Ceramic Tile, Laminate, Other
Cooling:
None
Fireplaces:
1
Fireplace Details:
Mixed
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
In Basement, Main Level
Edgemont
Dishwasher, Dryer, Microwave, Range Hood, Refrigerator, Washer
None
Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Bedroom
12'5" × 12'4"
Main Floor
Bedroom
10'4" × 9'1"
Main Floor
Bedroom
10'3" × 9'
Main Floor
Living Room
16'6" × 13'9"
Main Floor
Dining Room
16'6" × 8'4"
Main Floor
Eat in Kitchen
18'1" × 11'6"
Main Floor
Entrance
6'5" × 6'2"
Main Floor
Balcony
22'5" × 4'6"
Upper Level
Bedroom - Primary
17'5" × 13'6"
Upper Level
Bonus Room
14'5" × 11'4"
Upper Level
Furnace/Utility Room
5'4" × 4'2"
Lower Level
Bedroom
11'5" × 8'1"
Lower Level
Flex Space
13'7" × 6'4"
Lower Level
Family Room
17'4" × 5'9"
Lower Level
Bedroom
16'2" × 8'3"
Lower Level
Eat in Kitchen
12'5" × 8'3"
Floor
Ensuite
Pieces
Other
Main Floor
No
3
9'10" x 5'8"
Main Floor
No
4
8'2" x 4'11"
Upper Level
Yes
6
25'1" x 5'6"
Lower Level
Yes
3
6'1" x 5'1"
Lower Level
No
3
8'8" x 13'1"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Vaulted Ceiling(s)
Exterior Features:
Garden, Playground, Private Yard
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Garden
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone NW
Zoning:
R-C1
Listed Date:
Jul 07, 2024
Days on Mkt:
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Listed by TREC The Real Estate Company
Data was last updated November 10, 2024 at 02:05 PM (UTC)
Area Statistics
Listings on market:
30
Avg list price:
$634,900
Min list price:
$283,500
Max list price:
$1,238,832
Avg days on market:
28
Min days on market:
3
Max days on market:
132
Avg price per sq.ft.:
$383.97
These statistics are generated based on the current listing's property type and located in Edgemont. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706