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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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408 Bridlemeadows Common SW
Bridlewood Calgary T2Y 5C3

$679,900
Residential beds: 4 baths: 4.0 1,800 sq. ft. built: 2005

Main Photo: 408 Bridlemeadows Common SW in Calgary: Bridlewood Detached for sale : MLS®# A2166447
Photo 1: 408 Bridlemeadows Common SW in Calgary: Bridlewood Detached for sale : MLS®# A2166447
Photo 2: 408 Bridlemeadows Common SW in Calgary: Bridlewood Detached for sale : MLS®# A2166447
Photo 3: 408 Bridlemeadows Common SW in Calgary: Bridlewood Detached for sale : MLS®# A2166447
Photo 4: 408 Bridlemeadows Common SW in Calgary: Bridlewood Detached for sale : MLS®# A2166447
Photo 5: 408 Bridlemeadows Common SW in Calgary: Bridlewood Detached for sale : MLS®# A2166447
Photo 6: 408 Bridlemeadows Common SW in Calgary: Bridlewood Detached for sale : MLS®# A2166447
Photo 7: 408 Bridlemeadows Common SW in Calgary: Bridlewood Detached for sale : MLS®# A2166447
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Photo 36: 408 Bridlemeadows Common SW in Calgary: Bridlewood Detached for sale : MLS®# A2166447
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2166447
Bedrooms:
4
Bathrooms:
4
Year Built:
2005
Welcome to 408 Bridlemeadows! Located in the highly desired community of Bridlewood on a quiet cul-de-sac this family home is walking distance to three schools, grocery & retail stores, bike paths and parks. This meticulously cared-for property is situated on a wonderful lot with an amazing south facing yard, AC for those hot summer days and offers over 2,500sqft. of developed space. The main floor boasts 9 Ft. ceilings an open layout featuring a front living room with a gas fireplace, a spacious kitchen and island, large pantry, a formal dining area, and main floor laundry room. Upstairs, you'll find a bonus room with 11 Ft. ceilings, 3 large bedrooms including the primary bedroom with a 4-piece ensuite and walk-in closet, two additional bedrooms, and a 4-piece bath. The basement is fully finished boasting a 4th bedroom, 3-piece bathroom and a rec-room, the large utility room provides ample storage space. Don’t miss out on this incredible opportunity to own a spacious, well maintained home with so many desirable features!
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:
1,800.16 sq. ft.
Main Level Finished Area:
782 sq. ft.
Upper Level Finished Area:
1,018.16 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
4,144 sq. ft.
Lot Frontage:
10'5"
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:
7
Year built:
2005 (Age: 19)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
0512144
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Laminate
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Main Level
Bridlewood
Dishwasher, Electric Stove, Garage Control(s), Refrigerator, Washer/Dryer
N/A
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
12' × 11'6"
Main Floor
Dining Room
12' × 8'8"
Main Floor
Living Room
16' × 11'
Upper Level
Bonus Room
15'6" × 14'11"
Upper Level
Bedroom - Primary
12' × 11'5"
Upper Level
Bedroom
11'6" × 11'
Upper Level
Bedroom
11'4" × 10'8"
Basement
Family Room
22'9" × 11'1"
Basement
Bedroom
15'6" × 10'4"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
4'5" x 6'7"
Upper Level
No
4
4'11" x 8'
Upper Level
Yes
4
7'7" x 8'5"
Basement
No
4
7'1" x 10'4"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby
Interior Features:
Built-in Features, Kitchen Island, No Smoking Home, See Remarks, Walk-In Closet(s)
Exterior Features:
Dog Run, Garden, Private Yard
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Dog Run Fenced In, Garden, Landscaped, Private, Rectangular Lot, Treed
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone S
Zoning:
R-1N
Listed Date:
Sep 17, 2024
Days on Mkt:
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Listed by Diamond Realty & Associates LTD.
Data was last updated November 10, 2024 at 02:05 PM (UTC)
Area Statistics
Listings on market:
29
Avg list price:
$429,900
Min list price:
$239,300
Max list price:
$799,900
Avg days on market:
32
Min days on market:
2
Max days on market:
140
Avg price per sq.ft.:
$395.76
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