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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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264 99 Avenue SE
Willow Park Calgary T2J 0J1

$629,000
Residential beds: 3 baths: 1.0 913 sq. ft. built: 1964

Main Photo: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 1: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 2: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 3: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 4: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 5: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 6: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 7: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 8: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 9: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 10: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 11: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 12: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 13: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
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Photo 22: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 23: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 24: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 25: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 26: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
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Photo 31: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 32: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 33: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 34: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Photo 35: 264 99 Avenue SE in Calgary: Willow Park Detached for sale : MLS®# A2156922
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2156922
Bedrooms:
3
Bathrooms:
1
Year Built:
1964
Opportunity Awaits - Ideal for Investors or Contractors! This unique property in the desirable Willow Park community presents a fantastic opportunity for those looking to invest in a renovation project. With a Development Permit already in place and Proposed Construction Assemblies ready to go, this home is primed for transformation. Key Features: Renovation Potential: Contractors have already begun the transformation process, taking down walls and removing flooring to create a blank canvas. Whether you're an experienced investor or a contractor, this property offers the perfect foundation for your next project. Development Permit: A Development Permit is in place, streamlining the process for the next phase of construction. The Proposed Construction Assemblies are available, offering a clear vision for the potential of this home. Spacious Layout: The existing structure allows for a variety of configurations to suit your design preferences. With an open floor plan potential, you can customize the space to meet modern living standards. Prime Location: Situated in the established Willow Park neighborhood, this property is close to schools, shopping, parks, and public transit. The community's mature trees and large lots are highly sought after, adding value to any completed renovation. Investment Opportunity: Whether you plan to transform this property into a beautiful family home or a lucrative rental property, the possibilities are endless. The prime location and existing permits make this an excellent investment opportunity. Unlock the Potential! Contact us today to learn more about this exciting project and how you can bring your vision to life in one of Calgary's most desirable communities.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bungalow
Total Living Area:
913.1 sq. ft.
Main Level Finished Area:
913.1 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
877.8 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,024 sq. ft.
Lot Frontage:
50'
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:
South
Reg. Size:
Reg. Size Includes:
Levels:
One
Total Rooms Above Grade:
5
Year built:
1964 (Age: 60)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
2348JK
Heating:
Forced Air
Basement:
None
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Concrete, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Other
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Off Street
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
None
Willow Park
None
N/A
None Known
Floor
Type
Size
Other
Main Floor
Living Room
15'6" × 11'5"
Main Floor
Bedroom
10'1" × 8'
Main Floor
Entrance
5'6" × 3'9"
Main Floor
Bedroom
11'5" × 8'5"
Main Floor
Kitchen
15'7" × 11'6"
Main Floor
Bedroom - Primary
12'1" × 11'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5' x 7'7"
Title to Land:
Fee Simple
Community Features:
Golf, Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
See Remarks, Separate Entrance
Exterior Features:
Private Entrance, Private Yard
Patio And Porch Features:
Patio
Lot Features:
Back Lane, Back Yard, City Lot, Level, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone S
Zoning:
R-C1
Listed Date:
Aug 11, 2024
Days on Mkt:
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Listed by Homecare Realty Ltd.
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
20
Avg list price:
$1,375,000
Min list price:
$399,999
Max list price:
$2,875,000
Avg days on market:
29
Min days on market:
4
Max days on market:
140
Avg price per sq.ft.:
$627.81
These statistics are generated based on the current listing's property type and located in Willow Park. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706