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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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2113 16969 24 Street SW
Bridlewood Calgary T2Y 0H8

$315,000
Residential beds: 2 baths: 2.0 861 sq. ft. built: 2007

Main Photo: 2113 16969 24 Street SW in Calgary: Bridlewood Apartment for sale : MLS®# A2165489
Photo 1: 2113 16969 24 Street SW in Calgary: Bridlewood Apartment for sale : MLS®# A2165489
Photo 2: 2113 16969 24 Street SW in Calgary: Bridlewood Apartment for sale : MLS®# A2165489
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Photo 22: 2113 16969 24 Street SW in Calgary: Bridlewood Apartment for sale : MLS®# A2165489
Photo 23: 2113 16969 24 Street SW in Calgary: Bridlewood Apartment for sale : MLS®# A2165489
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2165489
Bedrooms:
2
Bathrooms:
2
Year Built:
2007
Newly renovated, 2 bedroom 2 full bath, 1 underground parking, this unit has it all, new carpets, new flooring, freshly painted, ground floor unit, raised breakfast bar, withe counter tops, near schools and parks.
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:
861 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$529.79
Condo Fee Includes:
Electricity, Gas, Heat, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Sewer, 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:
West
Reg. Size:
Reg. Size Includes:
Unit Exposure:
West
Floor Location:
Ground
Entry Level:
1
Stories Total:
3
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
2
Year built:
2007 (Age: 17)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0810241
Heating:
Baseboard
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
Low Rise (2-4 stories)
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Laminate
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Bridlecrest Pointe
Bridlewood
Elevator(s), Visitor Parking
Dishwasher, Electric Stove, Microwave Hood Fan, Refrigerator, Washer/Dryer
n/a
None Known
Restrictions
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
10'3" × 10'2"
Main Floor
Bedroom
16'4" × 9'3"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
0' x 0'
Main Floor
Yes
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
No Animal Home, No Smoking Home
Exterior Features:
Balcony
Patio And Porch Features:
Patio
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone S
Zoning:
M-1 d75
Listed Date:
Sep 12, 2024
Days on Mkt:
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Listed by MaxWell Canyon Creek
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
35
Avg list price:
$579,900
Min list price:
$279,900
Max list price:
$749,900
Avg days on market:
13
Min days on market:
2
Max days on market:
89
Avg price per sq.ft.:
$400.35
These statistics are generated based on the current listing's property type and located in Bridlewood. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706