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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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1806 8 Street SW
Lower Mount Royal Calgary T2T 2Z1

$825,000
Residential beds: 3 baths: 5.0 1,601 sq. ft. built: 2017

Main Photo: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 1: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 2: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 3: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 4: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 5: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 6: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 7: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 8: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 9: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 10: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 11: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 12: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 13: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 14: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 15: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 16: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 17: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 18: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 19: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 20: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 21: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 22: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 23: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 24: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 25: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 26: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 27: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 28: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 29: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 30: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 31: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 32: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 33: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 34: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 35: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 36: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Photo 37: 1806 8 Street SW in Calgary: Lower Mount Royal Semi Detached (Half Duplex) for sale : MLS®# A2158280
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2158280
Bedrooms:
3
Bathrooms:
5
Year Built:
2017
This stunning home is located in the heart of the Lower Mount Royal community, offering 1,600 square feet of living space, plus an additional 533 square feet of fully finished basement, perfect for entertaining. The top floor features two bedrooms, including a master bedroom with a see-through gas fireplace. Each bedroom has its own en-suite bathroom, with the master en-suite featuring heated floors. The main level includes a living room with another gas fireplace, a half bathroom, a dining room, and a kitchen equipped with Jenn Air appliances, a Garburator, quartz countertops, and under-cabinet lighting. Moving down to the lower level, there's an office with its own 2-piece en-suite and a single-car garage with a 220V connection for an electric vehicle charging station. The basement is fully finished with a 3-piece bathroom, a rec room, and a bonus room, providing extra space for your family and guests, along with added privacy and recreation. This home is conveniently situated near top-rated schools, including Western Canada High School just a block away, and both Mount Royal Junior High and Earl Grey Elementary School within walking distance, making it an ideal choice for families. Don’t let this opportunity pass you by—schedule a viewing today to experience everything this remarkable property has to offer.
Property Type:
Residential
Property Sub Type:
Semi Detached (Half Duplex)
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
3 Storey, Side by Side
Total Living Area:
1,601.13 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
925 sq. ft.
Lot Frontage:
18'6"
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:
Entry Level:
1
Levels:
Three Or More
End Unit:
1 Common Wall
Total Rooms Above Grade:
7
Year built:
2017 (Age: 7)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
5.0 (Full:3, Half:2)
Plan:
1610365
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Stucco, Wood Frame
Structure Type:
Duplex
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
Central Air
Fireplaces:
2
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
1
Parking:
Single Garage Attached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Upper Level
Lower Mount Royal
Built-In Gas Range, Built-In Oven, Dishwasher, Garburator, Humidifier, Microwave, Range Hood, Refrigerator
N/A
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
13'6" × 9'11"
Main Floor
Foyer
21'4" × 3'6"
2nd Floor
Dining Room
10'2" × 9'5"
2nd Floor
Kitchen
13'6" × 9'11"
2nd Floor
Living Room
14'10" × 13'6"
3rd Floor
Bedroom
13'7" × 9'11"
3rd Floor
Bedroom - Primary
13'6" × 11'10"
Basement
Bonus Room
12'9" × 9'4"
Basement
Game Room
12'9" × 9'7"
Basement
Furnace/Utility Room
12'4" × 4'3"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
2
6'1" x 2'7"
2nd Floor
No
2
5'5" x 5'
3rd Floor
Yes
3
6'7" x 4'8"
3rd Floor
Yes
5
12'2" x 8'1"
Basement
No
3
9'6" x 4'1"
Title to Land:
Fee Simple
Community Features:
Other, Shopping Nearby, Street Lights
Interior Features:
Low Flow Plumbing Fixtures, Skylight(s)
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Lot Features:
Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C2
Listed Date:
Aug 16, 2024
Days on Mkt:
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Virtual Tour

Virtual Tour

Listed by CIR Realty
Data was last updated November 10, 2024 at 02:05 PM (UTC)
Area Statistics
Listings on market:
27
Avg list price:
$348,000
Min list price:
$183,900
Max list price:
$850,000
Avg days on market:
30
Min days on market:
1
Max days on market:
86
Avg price per sq.ft.:
$406.84
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