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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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1515 22 Avenue SW
Bankview Calgary T2T 0R7

$559,000
Residential beds: 4 baths: 5.0 1,396 sq. ft. built: 1924

Main Photo: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 1: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 2: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 3: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 4: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 5: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 6: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 7: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 8: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 9: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 10: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 11: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 12: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 13: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 14: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 15: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 16: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 17: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 18: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 19: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Photo 20: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2168930
Bedrooms:
4
Bathrooms:
5
Year Built:
1924
***INVESTOR ALERT*** This complex has 4 suites, all currently illegal, but recognized by the city with separate addresses. The main floor has a 2 bedroom unit with a large dining room and living room and a front porch. The upper character unit is a 1 bedroom with front facing balcony, living room, 4pc bath and kitchen. There is a bachelor unit on the main floor in the rear with a kitchenette and a bath. The basement has a 1 bedroom unit with a 3pc ensuite and a large living room. The long term tenants would like to stay. The retaining wall is new as is the newly poured patio. This property comes with 2 city approved development plans that would legalize the suites and are fully transferable to the new owner.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
2 Storey
Total Living Area:
1,396 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
1,937 sq. ft.
Lot Frontage:
32'
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:
North
Reg. Size:
Reg. Size Includes:
Levels:
Two
Total Rooms Above Grade:
9
Year built:
1924 (Age: 100)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
5.0 (Full:4, Half:1)
Plan:
3936L
Heating:
Forced Air, Natural Gas
Basement:
Separate/Exterior Entry, Finished, Full, Suite
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stucco, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Hardwood, Linoleum
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Parking Pad
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
None
Bankview (Calgary)
Dishwasher, Electric Stove, Refrigerator
shed
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
11'4" × 8'11"
Main Floor
Bedroom
14'1" × 7'
Main Floor
Living Room
13'6" × 12'7"
Main Floor
Dining Room
12'3" × 10'10"
Main Floor
Family Room
8'7" × 7'8"
Main Floor
Kitchenette
4'2" × 2'1"
2nd Floor
Bedroom - Primary
12'7" × 11'6"
2nd Floor
Eat in Kitchen
11'8" × 10'1"
2nd Floor
Living Room
13'1" × 8'10"
Basement
Bedroom
13'6" × 13'2"
Basement
Game Room
10'11" × 9'
Basement
Kitchenette
8'3" × 5'1"
Basement
Dining Room
7'11" × 7'11"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5'2" x 10'4"
Main Floor
No
2
4'10" x 5'5"
2nd Floor
No
4
7'9" x 6'
Basement
Yes
4
4'10" x 7'5"
Basement
No
3
6'2" x 7'7"
Title to Land:
Fee Simple
Community Features:
None
Interior Features:
Separate Entrance, Storage
Exterior Features:
None
Patio And Porch Features:
Balcony(s), Patio, Porch
Lot Features:
See Remarks
Num. of Parcels:
0
Fencing:
Partial
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-CG
Listed Date:
Sep 27, 2024
Days on Mkt:
  • Photo 1: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    Photo 1 of 20
  • Photo 2: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    suite 1
  • Photo 3: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    suite 1
  • Photo 4: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    suite 1
  • Photo 5: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    Photo 5 of 20
  • Photo 6: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    suite 1
  • Photo 7: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    suite 1
  • Photo 8: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    suite 1
  • Photo 9: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    Photo 9 of 20
  • Photo 10: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    Photo 10 of 20
  • Photo 11: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    Photo 11 of 20
  • Photo 12: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    Photo 12 of 20
  • Photo 13: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    Photo 13 of 20
  • Photo 14: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    suite 3
  • Photo 15: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    Photo 15 of 20
  • Photo 16: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    suite 3
  • Photo 17: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    suite 3
  • Photo 18: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    Photo 18 of 20
  • Photo 19: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    Photo 19 of 20
  • Photo 20: 1515 22 Avenue SW in Calgary: Bankview Detached for sale : MLS®# A2168930
    Photo 20 of 20
Listed by Zolo Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
36
Avg list price:
$436,950
Min list price:
$185,000
Max list price:
$2,378,000
Avg days on market:
41
Min days on market:
6
Max days on market:
198
Avg price per sq.ft.:
$416.24
These statistics are generated based on the current listing's property type and located in Bankview. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706