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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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3715 14A Street SW
Altadore Calgary T2T 3Y1

$799,999
Residential beds: 2 baths: 2.0 1,166 sq. ft. built: 1914

Main Photo: 3715 14A Street SW in Calgary: Altadore Detached for sale : MLS®# A2139544
Photo 1: 3715 14A Street SW in Calgary: Altadore Detached for sale : MLS®# A2139544
Photo 2: 3715 14A Street SW in Calgary: Altadore Detached for sale : MLS®# A2139544
Photo 3: 3715 14A Street SW in Calgary: Altadore Detached for sale : MLS®# A2139544
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Photo 24: 3715 14A Street SW in Calgary: Altadore Detached for sale : MLS®# A2139544
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Photo 27: 3715 14A Street SW in Calgary: Altadore Detached for sale : MLS®# A2139544
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2139544
Bedrooms:
2
Bathrooms:
2
Year Built:
1914
OPEN HOUSE on SUNDAY, June 9th 11AM - 3PM. Welcome to the sought after neighbourhood of Altadore. You are located a mere steps to a Massive Off-leash dog park and plenty of shopping and transportation. You can get to downtown in minutes and within a short distance to the Saddledome and Stampede Grounds. There are many top-notch schools in this area, with the top Public, Catholic and Private Schools. This Historical 1914 Home has been updated with it's electrical and contains no asbestos. The kitchen was completely redone with new insulation in the walls there. It has maintained it's old world charm and has large mature trees. Perfect for living here or a character AirBNB that would be highly sought after. The single garage in the back is large enough for your car or truck. The porch at the front is perfect for enjoying your morning coffee and would be perfect a swinging bench. The basement is unspoiled and perfect for your storage or finishing ideas. This lot has no telephone pole in the back which makes it easy to build a double detached garage in the back in the future. You will love the convenience and lifestyle of this neighbourhood. Seeing is Truly Believing so book your showing today.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
1,166 sq. ft.
Main Level Finished Area:
684 sq. ft.
Upper Level Finished Area:
482 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
523 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
3,132 sq. ft.
Lot Frontage:
7'7½"
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
Levels:
Two
Total Rooms Above Grade:
7
Year built:
1914 (Age: 110)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:1, Half:1)
Plan:
1965P
Heating:
Forced Air, Natural Gas
Basement:
Full, Unfinished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Wood Frame, Wood Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Hardwood
Cooling:
None
Fireplaces:
1
Fireplace Details:
Brass, Living Room, Wood Burning
Garage:
1
Garage Spaces:
1
Parking:
Off Street, Single Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement
Altadore
Electric Oven, Refrigerator, Washer/Dryer, Window Coverings
none
None Known
Floor
Type
Size
Other
Main Floor
Dining Room
10'9" × 9'7"
Main Floor
Family Room
14'8" × 12'
Main Floor
Foyer
10'11" × 7'6"
Main Floor
Kitchen
9'7" × 8'
Main Floor
Living Room
11'2" × 10'9"
Main Floor
Storage
8'9" × 4'
2nd Floor
Bedroom
9'7" × 9'6"
2nd Floor
Bedroom - Primary
16'6" × 13'3"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
5'3" x 5'6"
2nd Floor
No
4
5'7" x 7'9"
Title to Land:
Fee Simple
Community Features:
Other, Park, Playground, Pool, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Soaking Tub, Storage
Exterior Features:
Balcony, Garden, Private Yard
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Back Yard, Front Yard, Interior Lot, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
R-C2
Listed Date:
Jun 08, 2024
Days on Mkt:
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Listed by Real Broker
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
26
Avg list price:
$1,150,000
Min list price:
$299,000
Max list price:
$2,599,000
Avg days on market:
19
Min days on market:
2
Max days on market:
277
Avg price per sq.ft.:
$653.01
These statistics are generated based on the current listing's property type and located in Altadore. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706