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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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1212 7451 Springbank Boulevard SW
Springbank Hill Calgary T3H 4K5

$408,900
Residential beds: 2 baths: 2.0 1,172 sq. ft. built: 1999

Exterior Front
Photo 1: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 2: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 3: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 4: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 5: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 6: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 7: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 8: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 9: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 10: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 11: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 12: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 13: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 14: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 15: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 16: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 17: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 18: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 19: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 20: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 21: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 22: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Photo 23: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2168096
Bedrooms:
2
Bathrooms:
2
Year Built:
1999
This beautiful, sunny two-bedroom condo unit has two full bathrooms and is located in desirable Springbank Hill just minutes away from the Westhills, Signal Hill and Aspen Woods shopping districts, the Westside Recreation Centre, and provides quick access to transit and Stoney Trail. Newly painted, the unit has a bright, open floor plan with high-end stainless-steel kitchen appliances, a peninsular breakfast bar and a natural gas fireplace. The in-suite laundry boasts full-sized, high-efficiency appliances and shelving for storage. New plush carpet and waterproof underlay were installed in July 2023. The unit features a sunny south-facing covered deck with a natural gas BBQ hook-up, a large on-deck storage locker, two titled parking stalls in the heated underground parking facility with a newly constructed storage cage perfect for housing tires and larger items. The property provides secured bicycle storage in the underground parking facility and is located with easy access to bike trails and Griffiths Woods Park. A bonus amenity space with reading materials and a pool table is located above the third floor. A new security system, installed at the property in 2024, provides digital access to the building and its parking facilities. The primary bedroom, with its walk-in closet, includes a 4pc ensuite with a soaker tub, separate stand-up shower and linen closet. A second 4pc bathroom is located immediately adjacent to the second bedroom with its own linen closet; both bedrooms are also equipped with lighted ceiling fans. The foyer & bedroom closets as well as the on-deck storage locker are outfitted with organizer units to maximize utility. With its proximity to shopping, schools, parks, transit and easy access to Stoney, Sarcee, Glenmore and Crowchild Trails, this move-in ready unit has it all. Book your showing today! Click on the Feature Sheet icon above to view video and the Virtual Tour icon above to view the Tour. NO DOGS ALLOWED.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Low-Rise(1-4)
Total Living Area:
1,172.31 sq. ft.
Main Level Finished Area:
1,172.31 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$660.27
Condo Fee Includes:
Common Area Maintenance, Gas, Heat, Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash, Water
HOA Fee Frequency:
Annually
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:
South
Reg. Size:
Reg. Size Includes:
Unit Exposure:
South
Floor Location:
Other
Entry Level:
2
Stories Total:
3
Levels:
Single Level Unit
End Unit:
1 Common Wall
Total Rooms Above Grade:
6
Year built:
1999 (Age: 25)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0010183
Heating:
Baseboard
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile
Cooling:
None
Fireplaces:
1
Fireplace Details:
Brick Facing, Gas, Living Room
Garage:
0
Parking:
Parkade, Titled
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Unit
HOA Fee:
$120.00
Condo Fee Frequency:
Monthly
Mountain View Terrace
Springbank Hill
Elevator(s), Park, Secured Parking, Visitor Parking
Dishwasher, Dryer, Electric Stove, Microwave, Refrigerator, Washer, Window Coverings
N/A
Board Approval, Pet Restrictions or Board approval Required, See Remarks
Restrictions, Cats OK
Floor
Type
Size
Other
Main Floor
Kitchen
9'5" × 9'1"
Main Floor
Dining Room
16'5" × 12'3"
Main Floor
Living Room
15'2" × 12'10"
Main Floor
Bedroom - Primary
16'1" × 11'7"
Main Floor
Bedroom
13'4" × 10'8"
Main Floor
Foyer
7'5" × 7'
Main Floor
Laundry
5'10" × 4'11"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
10'2" x 8'11"
Main Floor
No
4
4'11" x 9'
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Breakfast Bar, Ceiling Fan(s), Closet Organizers, Elevator, No Animal Home, No Smoking Home, Open Floorplan, See Remarks, Storage, Vinyl Windows, Walk-In Closet(s)
Exterior Features:
Storage
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone W
Zoning:
DC
Listed Date:
Sep 24, 2024
Days on Mkt:
  • Photo 1: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Exterior Front
  • Photo 2: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Front entrance foyer
  • Photo 3: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Front entrance foyer
  • Photo 4: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Kitchen
  • Photo 5: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Kitchen
  • Photo 6: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Dining/Kitchen
  • Photo 7: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Living Room
  • Photo 8: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Living Room
  • Photo 9: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Fire Place
  • Photo 10: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Primary Bedroom
  • Photo 11: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Primary Bedroom
  • Photo 12: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    4 pc Ensuite
  • Photo 13: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    2nd Bedroom
  • Photo 14: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    2nd Bedroom
  • Photo 15: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Main bathroom
  • Photo 16: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Balcony
  • Photo 17: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Balcony
  • Photo 18: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Laundry
  • Photo 19: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Amenities Room
  • Photo 20: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Parking Stall 89
  • Photo 21: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Parking Stall 60
  • Photo 22: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Storage Cage
  • Photo 23: 1212 7451 Springbank Boulevard SW in Calgary: Springbank Hill Apartment for sale : MLS®# A2168096
    Outside sitting area
Listed by Royal LePage Mission Real Estate
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
38
Avg list price:
$741,000
Min list price:
$273,500
Max list price:
$3,488,000
Avg days on market:
49
Min days on market:
4
Max days on market:
244
Avg price per sq.ft.:
$516.57
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