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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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227 Miskow Close
Three Sisters Canmore T1W 3G7

$2,597,000
Residential beds: 5 baths: 3.0 3,091 sq. ft. built: 2005

Main Photo: 227 Miskow Close: Canmore Detached for sale : MLS®# A2151295
Photo 1: 227 Miskow Close: Canmore Detached for sale : MLS®# A2151295
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2151295
Bedrooms:
5
Bathrooms:
3
Year Built:
2005
Perched on Miskow Close in the exclusive Three Sisters Mountain Village, this stunning property boasts an array of features that will make you fall in love with mountain living. This home has 3 beds/3 baths and a den as well a spacious 2 bedroom legal suite offering ample space and in floor heating for comfortable living and hosting guests. You'll be captivated by the high ceilings, open concept design and breathtaking views. The property also boasts a large deck, providing an ideal space for outdoor gatherings or simply relaxing with a cup of coffee. The bedrooms in this home are generously sized while the primary is particularly impressive, with its own ensuite bath, ensuring a serene and luxurious experience. Additionally, the property features a spacious +800 sqft legal suite, perfect for guests or rental income opportunity. The suite offers separate access and its own set of amenities, providing comfort and privacy.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Legal
Home Style:
2 Storey
Total Living Area:
3,090.62 sq. ft.
Main Level Finished Area:
1,914.77 sq. ft.
Upper Level Finished Area:
1,175.97 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
153.26 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
12,289 sq. ft.
Lot Frontage:
145'
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:
North, South
Levels:
Two
Total Rooms Above Grade:
9
Year built:
2005 (Age: 19)
Bedrooms:
5 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
2
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
0212836
Heating:
In Floor, Electric, Forced Air, Natural Gas
Basement:
Partial, Unfinished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Mixed
Structure Type:
House
Roof:
Shingle
Ensuite:
Yes
Flooring:
Carpet, Tile, Wood
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Gas, Mantle, Stone
Garage:
1
Garage Spaces:
3
Parking:
Driveway, Triple Garage Attached
Parking Places:
6.0
Parking Total/Covered:
6 / -
Laundry Features:
Main Level
Three Sisters
Dishwasher, Dryer, Garage Control(s), Gas Range, Refrigerator, Washer, Window Coverings
NA
None Known
Floor
Type
Size
Other
Main Floor
Foyer
9'7" × 7'4"
Main Floor
Kitchen
12'11" × 12'8"
Main Floor
Living Room
22'10" × 18'9"
Main Floor
Dining Room
12' × 10'
Main Floor
Office
11'8" × 9'8"
Upper Level
Family Room
16'7" × 16'2"
Upper Level
Bedroom - Primary
15'7" × 13'1"
Upper Level
Bedroom
12'9" × 10'11"
Upper Level
Bedroom
13'4" × 11'1"
Suite
Kitchen
12'11" × 7'5"
Suite
Living Room
12'11" × 12'1"
Suite
Dining Room
12'1" × 10'1"
Suite
Bedroom
11'2" × 9'6"
Suite
Bedroom - Primary
11'2" × 10'2"
Suite
Furnace/Utility Room
9'1" × 7'2"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
5'6" x 4'8"
Upper Level
Yes
5
14'3" x 11'11"
Upper Level
No
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Golf, Other, Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Breakfast Bar
Exterior Features:
Balcony, Private Entrance, Private Yard
Patio And Porch Features:
Balcony(s), Deck
Lot Features:
Low Maintenance Landscape, No Neighbours Behind, Many Trees, Views
Num. of Parcels:
0
Fencing:
None
Region:
Bighorn No. 8, M.D. of
Zoning:
R1B
Listed Date:
Jul 19, 2024
Days on Mkt:
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Listed by CENTURY 21 NORDIC REALTY
Data was last updated November 10, 2024 at 02:05 PM (UTC)
Area Statistics
Listings on market:
149
Avg list price:
$1,199,000
Min list price:
$69,995
Max list price:
$8,717,800
Avg days on market:
58
Min days on market:
1
Max days on market:
841
Avg price per sq.ft.:
$878.05
These statistics are generated based on the current listing's property type and located in Canmore. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706