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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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104 350 4 Avenue NE
Crescent Heights Calgary T2E 0J3

$549,900
Residential beds: 2 baths: 3.0 1,567 sq. ft. built: 1980

Kitchen
Photo 1: 104 350 4 Avenue NE in Calgary: Crescent Heights Apartment for sale : MLS®# A2137396
Photo 2: 104 350 4 Avenue NE in Calgary: Crescent Heights Apartment for sale : MLS®# A2137396
Photo 3: 104 350 4 Avenue NE in Calgary: Crescent Heights Apartment for sale : MLS®# A2137396
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Photo 41: 104 350 4 Avenue NE in Calgary: Crescent Heights Apartment for sale : MLS®# A2137396
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2137396
Bedrooms:
2
Bathrooms:
3
Year Built:
1980
INVESTMENT opportunity - this condo is rented! Buy now for excellent rental income and move in later, or keep as an exceptional rental property! Wow, beautiful multi-level, 1500+ sq ft CONDO with soaring vaulted ceilings in the living room and 2 fireplaces, located in the desirable and sought after neighborhood of CRESCENT HEIGHTS, only a few minutes drive or walking distance to downtown. The building offers owners a ROOF TOP PATIO to enjoy the stunning downtown views, secured UNDERGROUND PARKING with ample height for larger vehicles, and a storage unit. The 2 stunning wood burning FIREPLACES are finished with LIMESTONE (with gas starters); one in the primary bedroom and one in the 2nd level den; a living room that is very bright with stunning floor-to-ceiling windows that include built-in blinds; vaulted ceilings and a large, eat-in kitchen/dining room with hardwood flooring, cabinets that are custom-made, granite countertops, and all stainless steel appliances. There are two large bedrooms with newer windows and ample closet space. And, there are 3 bathrooms: 1-4 piece ensuite, 1-4 piece bathroom, and 1-2 piece bathroom on the 2nd level. The unit also offers 2 entrances, one from the lower level and one from the 2nd level, an office area, and a laundry area with a washer & dryer. This location offers, not only walking distance to downtown, but also convenient access to lots of shops and restaurants including the Blue Star Diner, Starbuck's, Diner Deluxe, Blush Lane, and so many more! Come take a look at this unique and stylish condo. No sign on property.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Multi Level Unit
Total Living Area:
1,567.13 sq. ft.
Main Level Finished Area:
202.55 sq. ft.
Upper Level Finished Area:
725.26 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
639.32 sq. ft.
Taxes:
Tax Assessed Value:
Condo Fee:
$1,263.04
Condo Fee Includes:
Common Area Maintenance, Gas, Heat, Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions
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:
South
Reg. Size:
Reg. Size Includes:
Unit Exposure:
South
Floor Location:
Below Grade
Entry Level:
1
Stories Total:
2
Levels:
Multi Level Unit
End Unit:
1 Common Wall
Total Rooms Above Grade:
5
Year built:
1980 (Age: 44)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
8111175
Heating:
Baseboard, Fireplace(s), Natural Gas
Basement:
None
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Concrete
Structure Type:
Low Rise (2-4 stories)
Roof:
See Remarks
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
Central Air
Fireplaces:
2
Fireplace Details:
Bedroom, Decorative, Den, Gas Starter, Wood Burning
Garage:
0
Garage Spaces:
1
Parking:
Assigned, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Hall
Condo Fee Frequency:
Monthly
Regal Ridge
Crescent Heights
Party Room, Roof Deck
Dishwasher, Electric Stove, Garage Control(s), Microwave, Microwave Hood Fan, Refrigerator, Washer/Dryer, Window Coverings
Some furniture may be included in the purchase price.
None Known
Restrictions, Call
Floor
Type
Size
Other
Main Floor
Living Room
17' × 11'9"
Main Floor
Bedroom - Primary
48'7" × 33'2"
Main Floor
Bedroom
47'11" × 32'6"
2nd Floor
Kitchen With Eating Area
12'10" × 10'10"
2nd Floor
Office
41'4" × 23'4"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
7'9" x 7'10"
Main Floor
No
4
4'11" x 8'2"
2nd Floor
No
2
4'11" x 5'7"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Elevator, Granite Counters, High Ceilings, No Animal Home, No Smoking Home, Storage
Exterior Features:
None
Patio And Porch Features:
Rooftop Patio
Accessibility Features:
Accessible Common Area
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C1
Listed Date:
Jun 02, 2024
Days on Mkt:
  • Photo 1: 104 350 4 Avenue NE in Calgary: Crescent Heights Apartment for sale : MLS®# A2137396
    Kitchen
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    Kitchen
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    Dining
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    Den w/Fireplace
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    Living Room
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    Front Street
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Listed by Diamond Realty & Associates LTD.
Data was last updated September 20, 2024 at 06:05 PM (UTC)
Area Statistics
Listings on market:
44
Avg list price:
$377,390
Min list price:
$185,000
Max list price:
$2,100,000
Avg days on market:
33
Min days on market:
1
Max days on market:
135
Avg price per sq.ft.:
$457.26
These statistics are generated based on the current listing's property type and located in Crescent Heights. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706