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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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4102 1620 70 Street SE
Applewood Park Calgary T2A 7Z3

$252,000
Residential beds: 2 baths: 1.0 723 sq. ft. built: 2003

Main Photo: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 1: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 2: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 3: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 4: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 5: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 6: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 7: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
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Photo 10: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 11: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 12: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 13: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 14: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 15: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 16: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 17: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Photo 18: 4102 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2140650
Status:
Sold
Sold Date:
Jun 29, 2024
Listed Price:
$259,000
Sold Price:
$252,000
Sold in:
17 days
Prop. Type:
Residential
MLS® Num:
A2140650
Bedrooms:
2
Bathrooms:
1
Year Built:
2003
Corner unit with lots of windows, all with views of greenery. Have your own patio facing the lagoon. All brand new carpet and new paint throughout. Two large bedrooms, separate dining area, and insuite laundry. Well managed building with all utlities included in condo fee. Walking distance to Tim Hortons and access to Stoney Trail in seconds. Vacant for quick possession.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
15 Days / Neg
Suite:
No
Home Style:
Low-Rise(1-4)
Total Living Area:
723 sq. ft.
Taxes:
$934 / 2024
Tax Assessed Value:
144000.0
Condo Fee:
$498.56
Condo Fee Includes:
Common Area Maintenance, Electricity, Gas, Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Snow Removal, Trash, Water
Front Exposure:
North
Reg. Size Includes:
Interior Above Grade
Unit Exposure:
South
Floor Location:
Ground
Entry Level:
1
Stories Total:
4
Levels:
Single Level Unit
End Unit:
1 Common Wall
Total Rooms Above Grade:
5
Year built:
2003 (Age: 21)
Bedrooms:
2
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
0410620
Heating:
Baseboard
New Constr.:
No
Construction Material:
Mixed
Structure Type:
Low Rise (2-4 stories)
Ensuite:
No
Flooring:
Carpet, Vinyl
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas
Garage:
0
Parking:
Stall
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Pointe of View - Applewood
Applewood Park
Elevator(s), Visitor Parking
Dishwasher, Washer/Dryer Stacked
window coverings
Pet Restrictions or Board approval Required
Restrictions
Floor
Type
Size
Other
Main Floor
Kitchen
11'1" × 8'
Main Floor
Dining Room
11' × 7'6"
Main Floor
Living Room
15' × 11'
Main Floor
Bedroom - Primary
10' × 9'
Main Floor
Bedroom
9' × 9'
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5' x 8'
Title to Land:
Fee Simple
Community Features:
Park, Schools Nearby, Shopping Nearby
Interior Features:
No Animal Home, No Smoking Home
Exterior Features:
None
Patio And Porch Features:
Patio
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone E
Zoning:
M-C2 d116
Listed Date:
Jun 12, 2024
Days on Mkt:
17
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Listed by Copper K Realty
Data was last updated July 1, 2024 at 08:05 PM (UTC)
Diane Richardson
Cell: 403-397-3706