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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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2108 240 Skyview Ranch Road NE
Skyview Ranch Calgary T3N 0P4

$319,000
Residential beds: 2 baths: 2.0 848 sq. ft. built: 2014

Main Photo: 2108 240 Skyview Ranch Road NE in Calgary: Skyview Ranch Apartment for sale : MLS®# A2149473
Photo 1: 2108 240 Skyview Ranch Road NE in Calgary: Skyview Ranch Apartment for sale : MLS®# A2149473
Photo 2: 2108 240 Skyview Ranch Road NE in Calgary: Skyview Ranch Apartment for sale : MLS®# A2149473
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Photo 25: 2108 240 Skyview Ranch Road NE in Calgary: Skyview Ranch Apartment for sale : MLS®# A2149473
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2149473
Bedrooms:
2
Bathrooms:
2
Year Built:
2014
Discover the charm of this beautifully maintained two-bedroom, two-bathroom main floor condo unit in the highly sought-after community of Skyview Ranch. As you step inside, you’ll find a spacious kitchen, dining area, and a versatile flex/office space. The living room is filled with natural light, thanks to the large patio door that opens to a delightful outdoor patio. This condo features an in-suite laundry, a heated underground titled parking spot, and additional storage. The kitchen is a chef’s dream with a large island, bar seating, granite countertops, stainless steel appliances, and ample cabinet space. The open-concept living and dining area is perfect for gatherings and entertaining. The primary bedroom offers a walk-through his and hers closet leading to a luxurious 4-piece en-suite bathroom. A second large bedroom and an additional 4-piece bathroom provide plenty of space for family or guests. The flex/office space is ideal for those who work from home. Conveniently located with easy access to Stoney Trail, Metis Trail, just minutes from Deerfoot Trail and Calgary Airport. This property is also an excellent investment opportunity with great rental potential.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Apartment
Total Living Area:
848 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$531.00
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash, Water
HOA Fee Frequency:
Annually
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:
East
Reg. Size:
Reg. Size Includes:
Unit Exposure:
East
Floor Location:
Ground
Entry Level:
1
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
6
Year built:
2014 (Age: 10)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
1510090
Heating:
Baseboard
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Ceramic Tile, Cork, Vinyl
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
HOA Fee:
$78.75
Condo Fee Frequency:
Monthly
Skymills
Skyview Ranch
None
Dishwasher, Dryer, Electric Stove, Microwave Hood Fan, Washer
N/A
Call Lister
Restrictions
Floor
Type
Size
Other
Main Floor
Dining Room
10' × 9'1"
Main Floor
Living Room
10'10" × 10'5"
Main Floor
Office
5'11" × 4'7"
Main Floor
Kitchen
9'3" × 8'7"
Main Floor
Bedroom - Primary
11'2" × 11'
Main Floor
Bedroom
13' × 9'9"
Main Floor
Laundry
3'2" × 3'2"
Main Floor
Mud Room
5'11" × 3'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 8'4"
Main Floor
Yes
4
4'11" x 8'4"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Elevator, Open Floorplan
Exterior Features:
None
Patio And Porch Features:
Patio
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone NE
Zoning:
M-2
Listed Date:
Jul 14, 2024
Days on Mkt:
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Listed by Century 21 Bravo Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
117
Avg list price:
$355,900
Min list price:
$234,900
Max list price:
$890,000
Avg days on market:
38
Min days on market:
1
Max days on market:
162
Avg price per sq.ft.:
$390.68
These statistics are generated based on the current listing's property type and located in Skyview Ranch. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706