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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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433 1719 9A Street SW
Lower Mount Royal Calgary T2T 6S3

$360,000
Residential beds: 1 baths: 1.0 690 sq. ft. built: 2014

Main Photo: 433 1719 9A Street SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2169808
Photo 1: 433 1719 9A Street SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2169808
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2169808
Bedrooms:
1
Bathrooms:
1
Year Built:
2014
This is a good one here! Top floor unit with the largest one bedroom layout available in the building and made special by the high ceilings because no one is above you. The orientation of the unit is east at the front of the unit and west at the back with windows on each end of the unit, meaning you get direct sun twice a day – almost unheard of in a condo unit. You get sunshine in the living room in the morning and as later afternoon and evening happens, the west facing windows at the back of the unit let that sunlight in the unit again. What is extra special with this place is the 13 foot ceiling at the back of the unit in the primary bedroom, where there is enough room for the loft area! The current owners have the bed up in the loft with the space below that is used for an office, workout space, and storage! It is the ultimate 1 bedroom unit! Complete with in unit laundry, walk in closet, wardrobe, separate storage unit in the parkade, and a titled parking stall, your new home has all that you need to live in this unit for years to come! Hardwood flooring, quartz counters, a gas stove, air conditioning, this unit is a step above the other options available on the market today. The Block is located half a block off 17th Ave in Lower Mount Royal with all the amenities within walking distance, including a grocery store and Canadian Tire!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Low-Rise(1-4)
Total Living Area:
690.31 sq. ft.
Main Level Finished Area:
590.5 sq. ft.
Upper Level Finished Area:
99.81 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$407.69
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash, 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:
East
Reg. Size:
Reg. Size Includes:
Unit Exposure:
East, West
Floor Location:
Top
Entry Level:
4
Stories Total:
4
Levels:
Multi Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
2014 (Age: 10)
Bedrooms:
1 (Above Grd: 1)
Bedrooms Above Grade:
1
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
1411691
Heating:
In Floor
New Constr.:
No
Construction Material:
Brick, Composite Siding, Stucco, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Roof:
Tar/Gravel
Ensuite:
No
Flooring:
Hardwood
Cooling:
Wall Unit(s)
Fireplaces:
0
Garage:
0
Parking:
Parkade, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
Laundry Room
Condo Fee Frequency:
Monthly
The Block
Lower Mount Royal
Bicycle Storage
Dishwasher, Dryer, Electric Cooktop, Gas Stove, Microwave Hood Fan, Refrigerator, Washer, Window Coverings
Clothes armoire in bedroom, freezer in walk-in closet
None Known
Restrictions, Cats OK, Dogs OK, Yes
Floor
Type
Size
Other
Main Floor
Living Room
16'8" × 12'4"
Main Floor
Kitchen
13'2" × 11'3"
Main Floor
Bedroom - Primary
11'4" × 10'4"
Main Floor
Walk-In Closet
5'3" × 4'11"
Main Floor
Foyer
8'6" × 4'7"
Main Floor
Laundry
4'11" × 3'
Upper Level
Loft
10'4" × 8'8"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5' x 9'7"
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
High Ceilings, Kitchen Island, Stone Counters, Walk-In Closet(s)
Exterior Features:
Balcony, Courtyard, Storage, Uncovered Courtyard
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C2
Listed Date:
Oct 03, 2024
Days on Mkt:
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Listed by Sotheby's International Realty Canada
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
26
Avg list price:
$338,500
Min list price:
$183,900
Max list price:
$850,000
Avg days on market:
31
Min days on market:
4
Max days on market:
89
Avg price per sq.ft.:
$404.32
These statistics are generated based on the current listing's property type and located in Lower Mount Royal. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706