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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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2452 22A Street NW
Banff Trail Calgary T2M 3X7

$785,000
Residential beds: 3 baths: 2.0 921 sq. ft. built: 1953

Main Photo: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 1: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 2: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 3: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 4: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 5: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 6: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 7: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 8: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 9: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
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Photo 12: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 13: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
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Photo 17: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
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Photo 21: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 22: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 23: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 24: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 25: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 26: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 27: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 28: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Photo 29: 2452 22A Street NW in Calgary: Banff Trail Detached for sale : MLS®# A2158712
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2158712
Bedrooms:
3
Bathrooms:
2
Year Built:
1953
Welcome to 2452 22A Street NW located in the great inner city community of Banff Trail. This home has been maintained over the years and designated RC-2, thus has great investment opportunity on a good sized 50’ x 120’ lot for redevelopment. The main floor of the house has original hardwood flooring and has plenty of space with a large living room and two good sized bedrooms, an eat-in kitchen and an updated 4-piece bathroom. There is a separate entrance to the lower level containing an illegal suite, again with a good-sized kitchen, large living area, a sizable primary bedroom and a 3-piece bathroom. The large back yard has a single detached garage and room for additional parking. The home has updated windows throughout. Located walking distance to U of C as well as the Banff Trail C-train station and McMahon Stadium. There is easy access to Crowchild trail and the amenities in the area are endless with shopping, restaurants, etc. Call today and book a showing and Welcome Home!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
Bungalow
Total Living Area:
921.4 sq. ft.
Main Level Finished Area:
921.4 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
790.44 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,995 sq. ft.
Lot Frontage:
50'
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
Levels:
One
Total Rooms Above Grade:
4
Year built:
1953 (Age: 71)
Bedrooms:
3 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
1
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
9110GI
Heating:
Forced Air
Basement:
Separate/Exterior Entry, Finished, Full, Suite
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stucco, Wood Frame, Wood Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Hardwood, Laminate, Linoleum
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
1
Parking:
Single Garage Detached
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Basement
Banff Trail
Microwave, Range Hood, Washer/Dryer
2 refrigerators, 2 stoves, all blinds and window coverings not belonging to the tenant
Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Living Room
16'9" × 13'4"
Main Floor
Kitchen With Eating Area
13'7" × 9'3"
Main Floor
Bedroom
11'7" × 10'11"
Main Floor
Bedroom - Primary
14'5" × 12'7"
Basement
Family Room
15' × 12'10"
Basement
Kitchen
12'10" × 10'4"
Basement
Bedroom
12'10" × 11'8"
Basement
Laundry
9'9" × 9'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5'11" x 7'5"
Basement
No
3
6' x 5'4"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby
Interior Features:
Laminate Counters, No Animal Home, No Smoking Home
Exterior Features:
Private Yard
Patio And Porch Features:
Patio
Lot Features:
Back Lane, Back Yard, Rectangular Lot, Treed
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
R-C2
Listed Date:
Aug 20, 2024
Days on Mkt:
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Listed by RE/MAX Realty Professionals
Data was last updated September 20, 2024 at 08:05 PM (UTC)
Area Statistics
Listings on market:
14
Avg list price:
$1,034,500
Min list price:
$199,900
Max list price:
$2,150,000
Avg days on market:
30
Min days on market:
1
Max days on market:
76
Avg price per sq.ft.:
$641.95
These statistics are generated based on the current listing's property type and located in Banff Trail. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706