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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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When contacting me, please ensure to include the property address or MLS® number for the listing you are interested in. I look forward to hearing from you!

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44 Echlin Drive
NONE Bragg Creek T0L 0K0

$1,244,900
Residential beds: 5 baths: 4.0 2,065 sq. ft. built: 1976

Main Photo: 44 Echlin Drive: Bragg Creek Detached for sale : MLS®# A2127297
Photo 1: 44 Echlin Drive: Bragg Creek Detached for sale : MLS®# A2127297
Photo 2: 44 Echlin Drive: Bragg Creek Detached for sale : MLS®# A2127297
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Photo 47: 44 Echlin Drive: Bragg Creek Detached for sale : MLS®# A2127297
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2127297
Bedrooms:
5
Bathrooms:
4
Year Built:
1976
** Please click "Video's" for 3D tour ** This RARE, outstanding home is within walking distance to Bragg Creek, includes 2 residences AND is set on a half acre lot with tons of trees! Stunning features include: almost 3,200 sq ft of developed living space, 5 bedrooms, 4 bathrooms, insulated/heated/oversized double garage (32 x 25.5), approximately 900 sq ft separate residence above the garage including 1 large bedroom/3-piece bath/separate laundry/walk-in closet/full kitchen/separate heating system, private 0.46 acre corner lot with tons of trees, massive wrap around deck includes 5 deck "areas", gorgeous fire pit area, vaulted cedar ceilings, lots of big windows and much more! Location is a home run - a 20 minute walk to your favorite restaurants/shops in Bragg Creek, 25 minute drive to Calgary, located on a super quiet street and only a 2 minute walk to the Elbow River! Great home for extended family or families with older children - this is a very rare opportunity!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
Bungalow
Total Living Area:
2,065 sq. ft.
Main Level Finished Area:
858 sq. ft.
Upper Level Finished Area:
1,207 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,128 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
20,037 sq. ft.
Lot Frontage:
100'
Lot Details:
100 x 160
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:
Unit Exposure:
West
Levels:
One
Total Rooms Above Grade:
5
Year built:
1976 (Age: 48)
Bedrooms:
5 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
3
Bathrooms:
4.0 (Full:4, Half:0)
Plan:
1226 LK
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full, Walk-Up To Grade
Foundation:
Wood
New Constr.:
No
Construction Material:
Cedar, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
None
Fireplaces:
0
Water Supply:
Public
Sewer:
Septic Field, Septic Tank
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached, Heated Garage, Insulated, Oversized
Parking Places:
8.0
Parking Total/Covered:
8 / -
Laundry Features:
In Basement, Multiple Locations
NONE
Dishwasher, Dryer, Gas Stove, Refrigerator, Washer
Suite - Wall Oven, Induction Cooktop, Microwave with Hood Fan, Refrigerator, Dishwasher, Stack Washer/Dryer. 2 Sheds. Water Softener - "as is".
Call Lister
Floor
Type
Size
Other
Main Floor
Living Room
15'2" × 11'4"
Main Floor
Kitchen
15'4" × 13'4"
Main Floor
Dining Room
12' × 8'3"
Main Floor
Bedroom - Primary
13'4" × 13'4"
Main Floor
Bedroom
9'10" × 8'11"
Basement
Game Room
19'2" × 13'6"
Basement
Bedroom
13'3" × 12'8"
Basement
Bedroom
15'9" × 10'1"
Basement
Laundry
23'11" × 9'7"
Basement
Family Room
17'10" × 13'3"
Basement
Kitchen
15'7" × 10'8"
Basement
Bedroom
16'4" × 13'5"
Basement
Laundry
4' × 3'6"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
6'10" x 9'7"
Main Floor
No
4
6'1" x 9'7"
Basement
No
3
5'2" x 8'4"
Basement
No
3
9'7" x 11'1"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby
Interior Features:
Beamed Ceilings, No Smoking Home, Skylight(s), Vaulted Ceiling(s)
Exterior Features:
Rain Gutters
Patio And Porch Features:
Balcony(s), Deck, Patio, Wrap Around
Lot Features:
Back Yard, Corner Lot, Low Maintenance Landscape, Landscaped, Many Trees, Private, Rectangular Lot, Sloped, Treed
Num. of Parcels:
0
Fencing:
Fenced
Nearest Town:
Bragg Creek
Region:
Rocky View County
Zoning:
HR
Listed Date:
May 16, 2024
Days on Mkt:
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Virtual Tour

3D Tour

Listed by RE/MAX Landan Real Estate
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
12
Avg list price:
$1,589,000
Min list price:
$899,900
Max list price:
$2,850,000
Avg days on market:
111
Min days on market:
20
Max days on market:
818
Avg price per sq.ft.:
$578.73
These statistics are generated based on the current listing's property type and located in Bragg Creek. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706