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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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3009 1188 3 Street SE
Beltline Calgary T2G 1H8

$560,000
Residential beds: 2 baths: 2.0 936 sq. ft. built: 2016

Main Photo: 3009 1188 3 Street SE in Calgary: Beltline Apartment for sale : MLS®# A2141327
Photo 1: 3009 1188 3 Street SE in Calgary: Beltline Apartment for sale : MLS®# A2141327
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2141327
Bedrooms:
2
Bathrooms:
2
Year Built:
2016
Rarely available and most sought-after floorplan at the Guardian II - This is the sun-drenched corner 2-Bedroom with views south and west. INCREDIBLE UNOBSTRUCTED HIGH FLOOR VIEWS to the city skyline, Rocky Mountains, and over Stampede Park. The home has two spacious bedrooms, two bathrooms, and TITLED extra-wide TANDEM PARKING and included storage unit. This home is the epitome of modern elegance - beautiful Italian Armony Cucine cabinets in the kitchens and matching CUSTOM UPGRADED CLOSETS in both bedrooms. Upscale stylish finishes all around, including matte aluminium backsplashes, quartz countertops, and sleek integrated appliances in the kitchen. The well-proportioned open-concept living room has show stopping views with two walls of floor to ceiling windows - imagine the glowing sunsets over the mountains, the twinkle of the city skyline as far as the eye can see, and a front row seat to the stampede fireworks. The SPACIOUS BALCONY faces west and spans the whole width of the living room, perfect for lounging and outdoor dining. The building also includes extensive amenities such as a state-of-the-art gym, workshop, social room with garden terrace, 24-hour security & concierge. Conveniently located in the Beltline community within in close proximity to Downtown, the Stampede grounds, Central Public Library, the Riverwalk and the LRT. Walkable to all your daily requirements - a wonderful brunch / coffee shop is located in the building, a brand new dog park and Tesla super charger is across the street, and supermarket only a block away. Your location speaks volumes for the value of this property. This is the ultimate opportunity to get invest into a rising neighbourhood.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
High-Rise (5+)
Total Living Area:
936.2 sq. ft.
Main Level Finished Area:
936.2 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$700.31
Condo Fee Includes:
Amenities of HOA/Condo, Common Area Maintenance, Gas, Heat, Insurance, Maintenance Grounds, Professional Management, Reserve Fund Contributions, Security, Sewer, Snow Removal, Trash, Water
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:
West
Reg. Size:
Reg. Size Includes:
Unit Exposure:
West
Floor Location:
Other
Entry Level:
30
Stories Total:
44
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
4
Year built:
2016 (Age: 8)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
1611563
Heating:
Fan Coil
New Constr.:
No
Construction Material:
Concrete
Structure Type:
High Rise (5+ stories)
Ensuite:
Yes
Flooring:
Laminate, Tile
Cooling:
Central Air
Fireplaces:
0
Garage:
0
Parking:
Parkade, See Remarks, Stall, Tandem, Titled, Underground
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
The Guardian
Beltline
Community Gardens, Elevator(s), Fitness Center, Parking, Party Room, Recreation Facilities, Secured Parking, Snow Removal, Trash, Visitor Parking, Workshop
Dishwasher, Electric Stove, Microwave, Range Hood, Refrigerator, Washer/Dryer Stacked
n/a
Board Approval, Condo/Strata Approval, Pet Restrictions or Board approval Required, Pets Allowed
Restrictions, Cats OK, Dogs OK
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
11'8" × 11'1"
Main Floor
Walk-In Closet
6'5" × 4'7"
Main Floor
Living/Dining Room Combination
18' × 12'8"
Main Floor
Kitchen With Eating Area
11'11" × 8'3"
Main Floor
Balcony
19'4" × 6'1"
Main Floor
Laundry
5'8" × 2'11"
Main Floor
Entrance
11'7" × 4'1"
Main Floor
Bedroom
11'5" × 10'4"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
7'8" x 4'11"
Main Floor
No
3
7'9" x 4'11"
Title to Land:
Fee Simple
Community Features:
Shopping Nearby, Sidewalks
Interior Features:
Kitchen Island, Open Floorplan, Quartz Counters
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s), Glass Enclosed
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
DC (pre 1P2007)
Listed Date:
Jun 13, 2024
Days on Mkt:
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Listed by Rhinorealty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
235
Avg list price:
$385,000
Min list price:
$188,000
Max list price:
$2,900,000
Avg days on market:
43
Min days on market:
1
Max days on market:
448
Avg price per sq.ft.:
$503.8
These statistics are generated based on the current listing's property type and located in Beltline. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706