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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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4319 4975 130 Avenue SE
McKenzie Towne Calgary T2Z 4M5

$330,000
Residential beds: 2 baths: 2.0 846 sq. ft. built: 2003

Main Photo: 4319 4975 130 Avenue SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2173655
Photo 1: 4319 4975 130 Avenue SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2173655
Photo 2: 4319 4975 130 Avenue SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2173655
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Photo 32: 4319 4975 130 Avenue SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2173655
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2173655
Bedrooms:
2
Bathrooms:
2
Year Built:
2003
Large 2 bedroom, 2 bathroom unit with balcony and SOUTHWEST exposure. This condo has a grand entrance that is complete with an elevator. The kitchen features a raised EATING BAR, loads of cabinetry, STAINLESS STEEL APPLIANCES plus adjoining DINETTE. The open DINETTE will easily accommodate 4 people. The master bedroom with it's own private ensuite bath has a WALK THROUGH closet. South Pointe Condo complex is just a few minutes walk to fantastic amenities and SHOPPING, great restaurants, CO-OP, Safeway and Canadian Tire (just to name a few) at the South Trail POWER CENTRE on 130th Avenue. Public transportation is just steps away from your door. VALUE, QUALITY & LOCATION all in 1 package, nothing to do but move in & ENJOY. This condo is beautifully CLEAN & rates 11 out of 10
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:
845.9 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$381.10
Condo Fee Includes:
Common Area Maintenance, Electricity, Heat, Insurance, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, 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:
South
Reg. Size:
Reg. Size Includes:
Unit Exposure:
South
Floor Location:
Other
Entry Level:
1
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
4
Year built:
2003 (Age: 21)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0313191
Heating:
Baseboard
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Laminate
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Stall
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Z-name Not Listed
McKenzie Towne
Visitor Parking
Dishwasher, Electric Range, Microwave Hood Fan, Refrigerator, Washer/Dryer
Window Blinds
None Known
Restrictions
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
10'10" × 10'8"
Main Floor
Walk-In Closet
7'1" × 4'7"
Main Floor
Living Room
13'10" × 11'11"
Main Floor
Dinette
11'5" × 10'3"
Main Floor
Bedroom
10'1" × 9'7"
Main Floor
Laundry
7'10" × 3'7"
Main Floor
Balcony
11'6" × 7'8"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
3
4'11" x 7'9"
Main Floor
No
4
4'11" x 8'2"
Title to Land:
Fee Simple
Community Features:
Shopping Nearby
Interior Features:
Breakfast Bar
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
M-2
Listed Date:
Oct 17, 2024
Days on Mkt:
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Listed by Save Max Star
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
34
Avg list price:
$441,200
Min list price:
$290,000
Max list price:
$959,800
Avg days on market:
23
Min days on market:
5
Max days on market:
83
Avg price per sq.ft.:
$391.28
These statistics are generated based on the current listing's property type and located in McKenzie Towne. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706