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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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132 Evergreen Close SW
Evergreen Calgary T2Y 2X8

$859,000
Residential beds: 5 baths: 4.0 2,561 sq. ft. built: 1997

Main Photo: 132 Evergreen Close SW in Calgary: Evergreen Detached for sale : MLS®# A2167484
Photo 1: 132 Evergreen Close SW in Calgary: Evergreen Detached for sale : MLS®# A2167484
Photo 2: 132 Evergreen Close SW in Calgary: Evergreen Detached for sale : MLS®# A2167484
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Photo 49: 132 Evergreen Close SW in Calgary: Evergreen Detached for sale : MLS®# A2167484
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2167484
Bedrooms:
5
Bathrooms:
4
Year Built:
1997
Great home! Nestled on a quiet street and stops to the Fish Creek Provincial Park, this stunning South facing 2-storey custom-built home by LANDMARK is located in the family-friendly community of Evergreen Estate. With 5 bedrooms and 4 baths spread over 3,849 sq. ft. of living space, it's perfect for a growing family. The open-concept main floor features a bright living room with a cathedral ceiling and large windows, a chef's kitchen with upgraded stainless-steel appliances, and a cozy breakfast nook leading to a low-maintenance backyard. The upper level includes a bonus room, a spacious primary bedroom with a 5-piece ensuite, and two additional bedrooms. The fully finished lower level offers a rec room, game room, and a guest bedroom. Recent upgrades include a 2023 electric stove and dishwasher, NEW hot water tank. Close to schools, LRT, and shopping. Quick possession available. Call your realtor today!
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:
2,561.1 sq. ft.
Main Level Finished Area:
15,094.23 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,284.2 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,866 sq. ft.
Lot Frontage:
48'5"
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:
Southeast
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Southeast
Levels:
Two
Total Rooms Above Grade:
9
Year built:
1997 (Age: 27)
Bedrooms:
5 (Above Grd: 4)
Bedrooms Above Grade:
4
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:4, Half:0)
Plan:
9311413
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stucco, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Marble
Cooling:
None
Fireplaces:
1
Fireplace Details:
Family Room, Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Main Level
Evergreen (Calgary)
Dishwasher, Dryer, Electric Stove, Garage Control(s), Microwave Hood Fan, Refrigerator, Washer, Window Coverings
n/a
None Known
Floor
Type
Size
Other
Main Floor
Dining Room
9'2" × 8'
Main Floor
Kitchen
16'9" × 15'7"
Main Floor
Living Room
15'6" × 13'11"
Main Floor
Family Room
15'11" × 11'10"
Main Floor
Bedroom
10'7" × 9'10"
Main Floor
Dining Room
11'5" × 8'6"
2nd Floor
Bedroom
13' × 10'4"
2nd Floor
Bedroom
12'9" × 10'7"
2nd Floor
Bedroom - Primary
15'11" × 14'6"
Lower Level
Game Room
18'3" × 17'4"
Lower Level
Bedroom
15'11" × 10'5"
Lower Level
Game Room
22'5" × 13'4"
Floor
Ensuite
Pieces
Other
Main Floor
No
3
2nd Floor
No
5
2nd Floor
Yes
5
Lower Level
No
3
Title to Land:
Fee Simple
Community Features:
Golf, Park, Playground
Interior Features:
Central Vacuum, Double Vanity, Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan, Pantry
Exterior Features:
Garden, Gas Grill, Private Yard, Storage
Patio And Porch Features:
Deck
Lot Features:
Low Maintenance Landscape, Rectangular Lot, Treed
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone S
Zoning:
R-1
Listed Date:
Sep 24, 2024
Days on Mkt:
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Listed by Metro Benchmark Real Estate Ltd.
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
46
Avg list price:
$749,900
Min list price:
$225,000
Max list price:
$1,395,000
Avg days on market:
29
Min days on market:
1
Max days on market:
140
Avg price per sq.ft.:
$390.33
These statistics are generated based on the current listing's property type and located in Evergreen. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706