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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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3004 1188 3 Street SE
Beltline Calgary T2G 1H8

$450,000
Residential beds: 2 baths: 2.0 766 sq. ft. built: 2016

Main Photo: 3004 1188 3 Street SE in Calgary: Beltline Apartment for sale : MLS®# A2160768
Photo 1: 3004 1188 3 Street SE in Calgary: Beltline Apartment for sale : MLS®# A2160768
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2160768
Bedrooms:
2
Bathrooms:
2
Year Built:
2016
Beautiful CORNER unit at the Guardian - Calgary’s tallest residential building, with panoramic city and river views. This incredible 2-bedroom, 2-bath unit is situated on the 30th floor and includes a TITLED PARKING stall and assigned storage locker. This unit is in PRISTINE CONDITION and move-in ready. This home has an open functional floor plan, wrap-around corner views to the north and the east, and TWO SPACIOUS BALCONIES. The kitchen is equipped with built-in German appliances, and a sleek modern kitchen perfect for cooking and entertaining. Floor to ceiling windows span the entire width of the suite, offering a bright airy space during the day and the ambiance of city lights at night. The primary suite is located away from the 2nd bedroom and has a walk-in closet and 4pc ensuite. The building also includes extensive amenities such as a state-of-the-art gym, workshop, social room with garden terrace, 24-hour security & concierge. Conveniently located in the Beltline community of downtown Calgary within close proximity to Downtown, the Stampede grounds, Central Public Library, River walk and parks, Sunterra Market, and the LRT. Enjoy the convenience and excitement of downtown living, while taking advantage of the ultimate opportunity to get invested into a rising neighborhood. Additional parking stall available for purchase
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
High-Rise (5+)
Total Living Area:
765.6 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$637.99
Condo Fee Includes:
Amenities of HOA/Condo, Common Area Maintenance, Gas, Heat, Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Security, Sewer, Snow Removal, 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:
West
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Northeast
Floor Location:
Other
Entry Level:
1
Stories Total:
44
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
4
Year built:
2016 (Age: 8)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
1611563
Heating:
Fan Coil
New Constr.:
No
Construction Material:
Concrete
Structure Type:
High Rise (5+ stories)
Ensuite:
Yes
Flooring:
Laminate, Tile
Cooling:
Central Air
Fireplaces:
0
Garage:
0
Parking:
Parkade, Stall, Titled, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
The Guardian
Beltline
Community Gardens, Elevator(s), Fitness Center, Parking, Party Room, Recreation Facilities, Secured Parking, Snow Removal, Trash, Visitor Parking, Workshop
Dishwasher, Electric Stove, Microwave, Range Hood, Refrigerator, Washer/Dryer Stacked
n/a
Board Approval, Condo/Strata Approval, Pet Restrictions or Board approval Required, Pets Allowed
Restrictions, Cats OK, Dogs OK
Floor
Type
Size
Other
Main Floor
Entrance
7'4" × 4'7"
Main Floor
Laundry
3' × 2'9"
Main Floor
Bedroom
9'11" × 9'11"
Main Floor
Bedroom - Primary
9'11" × 9'10"
Main Floor
Kitchen With Eating Area
17'10" × 11'11"
Main Floor
Living Room
10'4" × 9'2"
Main Floor
Balcony
13'1" × 5'7"
Main Floor
Balcony
11'1" × 5'9"
Floor
Ensuite
Pieces
Other
Main Floor
No
3
4'11" x 7'7"
Main Floor
Yes
4
4'11" x 7'10"
Title to Land:
Fee Simple
Community Features:
Clubhouse, Shopping Nearby
Interior Features:
Kitchen Island, Open Floorplan, Quartz Counters
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s), Glass Enclosed
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
DC (pre 1P2007)
Listed Date:
Sep 05, 2024
Days on Mkt:
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Listed by Rhinorealty
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
240
Avg list price:
$382,450
Min list price:
$188,000
Max list price:
$2,900,000
Avg days on market:
44
Min days on market:
1
Max days on market:
447
Avg price per sq.ft.:
$504.15
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