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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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2103 2117 81 Street SW
Springbank Hill Calgary T3H 6H5

$488,145
Residential beds: 2 baths: 2.0 870 sq. ft. built: 2025

Main Photo: 2103 2117 81 Street SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2107586
Photo 1: 2103 2117 81 Street SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2107586
Photo 2: 2103 2117 81 Street SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2107586
Photo 3: 2103 2117 81 Street SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2107586
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Photo 20: 2103 2117 81 Street SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2107586
Photo 21: 2103 2117 81 Street SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2107586
Photo 22: 2103 2117 81 Street SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2107586
Photo 23: 2103 2117 81 Street SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2107586
Photo 24: 2103 2117 81 Street SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2107586
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2107586
Bedrooms:
2
Bathrooms:
2
Year Built:
2025
The Whitney is an impeccably designed boutique condo building, situated in the esteemed Aspen Park/Springbank Hill area. Your new home graces one of the finest locations, nestled beside a protected environmental reserve (ravine) that winds through the community, offering extensive recreational walking paths. The Whitney boasts stunning mountain, prairie, and community vistas, with Aspen Landing just a 5-minute stroll away and Downtown a quick 10-minute drive. Your new 2 bed/2 bath Uptown unit offers 910 sq.ft. of architectural measurement (870 sq.ft. RMS measurement) of living space, inclusive of formal entry, en-suite laundry, open concept living, an extremely large patio, air-conditioning (optional), titled underground parking, luxury vinyl plank flooring (optional), quartz counters, custom cabinetry, designer tile, and stainless appliances. Developed by Cove Properties, one of Calgary’s premier multifamily developers renowned for their commitment to quality construction, The Whitney has reached an impressive 85% sold-out status, with only 6 units remaining ranging from 600 sq.ft. one-bedroom units to 1200 sq.ft. 2-bed + Den configurations. RMS measurements are based on the builder's architectural drawings, with the legal plan and taxes to be determined. An annual HOA fee is anticipated but has yet to be finalized. Construction for the building is slated to commence in May 2024, with a tentative completion date set for the fall of 2025. Please note that all photos showcased are from Cove Properties Show Suites (85th & Park or Apollo), serving as representations of the exterior and interior finishing standards to be expected at The Whitney. There are 4 interior design packages available for selection, with customization options including the addition of fireplaces and air-conditioning. Our sales center is currently closed and accepting meetings by appointment only.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Apartment
Total Living Area:
870.3 sq. ft.
Main Level Finished Area:
870.3 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$507.00
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Professional Management, Reserve Fund Contributions, 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:
East
Reg. Size:
Reg. Size Includes:
Unit Exposure:
East
Floor Location:
Ground
Entry Level:
1
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls, End Unit, No One Below
Total Rooms Above Grade:
4
Year built:
2025 (Age: -)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0000000
Heating:
In Floor, Natural Gas
Builder:
Cove Properties
New Constr.:
Yes
Construction Material:
Cement Fiber Board, Stone, Stucco, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Roof:
Flat Torch Membrane
Ensuite:
Yes
Flooring:
Carpet, Tile, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Stall, Titled
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Z-name Not Listed
Springbank Hill
Elevator(s), Visitor Parking
Dishwasher, Dryer, Range Hood, Refrigerator, Stove(s), Washer
N/A
None Known
Restrictions, Yes
Floor
Type
Size
Other
Main Floor
Kitchen
16'10" × 8'10"
Main Floor
Living Room
16' × 10'8"
Main Floor
Bedroom - Primary
11'3" × 9'6"
Main Floor
Walk-In Closet
5'7" × 4'8"
Main Floor
Bedroom
10'4" × 10'
Main Floor
Walk-In Closet
6'7" × 2'11"
Main Floor
Laundry
8'5" × 4'10"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
3
8'2" x 10'9"
Main Floor
No
4
4'11" x 8'5"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Closet Organizers, Kitchen Island, Open Floorplan, Walk-In Closet(s)
Exterior Features:
None
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone W
Zoning:
MC-2
Listed Date:
Mar 15, 2024
Days on Mkt:
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    Rendering of exterior
Listed by Century 21 Bamber Realty LTD.
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
39
Avg list price:
$733,000
Min list price:
$273,500
Max list price:
$3,488,000
Avg days on market:
49
Min days on market:
1
Max days on market:
245
Avg price per sq.ft.:
$514.24
These statistics are generated based on the current listing's property type and located in Springbank Hill. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706