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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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  2. Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

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When contacting me, please ensure to include the property address or MLS® number for the listing you are interested in. I look forward to hearing from you!

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86 2117 81 Street SW
Springbank Hill Calgary T3H 3V8

$656,736
Residential beds: 3 baths: 2.0 1,266 sq. ft. built: 2024

Main Photo: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
Photo 1: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
Photo 2: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
Photo 3: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
Photo 4: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
Photo 5: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
Photo 6: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
Photo 7: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2155899
Bedrooms:
3
Bathrooms:
2
Year Built:
2024
Welcome to this stunning new Lucas Model townhome in the sought-after Elkwood project, located in the vibrant Springbank Hill community in SW Calgary. This spacious 1282 sq ft home offers modern living at its finest with luxurious finishes throughout. An open-concept layout seamlessly integrates living and dining areas with large windows that flood the space with natural light. A modern kitchen with stainless steel appliances and quartz countertops is perfect for cooking and socializing. Luxury vinyl plank flooring extends throughout the main living areas and cozy carpets complete the bedrooms. Ensuite bathrooms and a walk-in closet provide convenience and extra storage. Outdoor living is enhanced with a private patio, ideal for relaxation and gatherings. Convenient attached single car garage with an additional driveway space allows you to park up to 2 vehicles. Photos are representative.
Property Type:
Residential
Property Sub Type:
Row/Townhouse
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Stacked Townhouse
Total Living Area:
1,265.65 sq. ft.
Main Level Finished Area:
630.67 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
634.98 sq. ft.
Taxes:
Tax Assessed Value:
Condo Fee:
$238.04
Condo Fee Includes:
Insurance, Maintenance Grounds, Professional Management, Reserve Fund Contributions, Snow Removal
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:
Entry Level:
1
Levels:
Two
End Unit:
2+ Common Walls
Total Rooms Above Grade:
4
Year built:
2024 (Age: 0)
Bedrooms:
3 (Above Grd: 1)
Bedrooms Above Grade:
1
Bedrooms Below Grade:
2
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
TBD
Heating:
Forced Air, Natural Gas
Basement:
None
Foundation:
Poured Concrete
New Constr.:
Yes
Construction Material:
Cement Fiber Board, Stone, Stucco, Wood Frame
Structure Type:
Five Plus
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
1
Parking:
Parking Pad, Single Garage Attached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Lower Level
Condo Fee Frequency:
Monthly
Z-name Not Listed
Springbank Hill
None
Dishwasher, Electric Range, Garage Control(s), Microwave Hood Fan, Refrigerator
N/A
None Known
Restrictions, Yes
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
11'3" × 10'7"
Main Floor
Living Room
11'9" × 10'
Main Floor
Dining Room
9'2" × 9'
Main Floor
Kitchen
12'4" × 7'6"
Lower Level
Bedroom
11'5" × 9'10"
Lower Level
Bedroom
9'10" × 9'1"
Lower Level
Den
9'10" × 9'1"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
3
0' x 0'
Lower Level
No
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Park, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Breakfast Bar, Closet Organizers, Open Floorplan, Recessed Lighting, Storage, Walk-In Closet(s)
Exterior Features:
Balcony, Lighting, Private Entrance
Patio And Porch Features:
Balcony(s), Patio
Lot Features:
Back Lane, Low Maintenance Landscape, Landscaped, Street Lighting, Underground Sprinklers
Num. of Parcels:
0
Fencing:
None
Region:
Calgary
Zone:
CAL Zone W
Zoning:
TBD
Listed Date:
Aug 13, 2024
Days on Mkt:
  • Photo 1: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
    Photo 1 of 7
  • Photo 2: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
    Photo 2 of 7
  • Photo 3: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
    Photo 3 of 7
  • Photo 4: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
    Photo 4 of 7
  • Photo 5: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
    Photo 5 of 7
  • Photo 6: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
    Photo 6 of 7
  • Photo 7: 86 2117 81 Street SW in Calgary: Springbank Hill Row/Townhouse for sale : MLS®# A2155899
    Photo 7 of 7
Listed by Bode Platform Inc.
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