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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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2307 1188 3 Street SE
Beltline Calgary T2G 1H8

$510,000
Residential beds: 2 baths: 2.0 857 sq. ft. built: 2016

Main Photo: 2307 1188 3 Street SE in Calgary: Beltline Apartment for sale : MLS®# A2160756
Photo 1: 2307 1188 3 Street SE in Calgary: Beltline Apartment for sale : MLS®# A2160756
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2160756
Bedrooms:
2
Bathrooms:
2
Year Built:
2016
Welcome to the Guardian South Tower, where city living meets luxury. Beautiful PANORAMIC CITY VIEWS from this rare and highly sought after west-facing corner two bedroom, two bathroom nearest to Calgary's Stampede park with new development underway, in THE GUARDIAN SOUTH tower. This NW corner unit boasts floor to ceiling windows showcasing one of Calgary’s most magnificent views amplified by stepping out onto the huge balcony. Highly efficient floor plan has less wasted hallway space and more functional living space. The fully equipped kitchen features a top-of-the-line European appliance package, gleaming quartz counters, and ample cabinet space, making it easy to whip up delicious meals for your guests. The primary bedroom boasts a large closet and a 4-piece ensuite bathroom. Second spacious bedroom, another 3-piece bath, and in-suite laundry complete this unit. This amazing condo also comes with a TITLED TANDEM underground parking stall, providing convenient and secure parking, while 24-hour security ensures your safety and peace of mind. Outstanding amenities include a gym and yoga studio, workshop on the 6th floor, social club, garden terrace on the 7th floor, and concierge service - everything you need for a comfortable and luxurious lifestyle. Plus, you'll be close to trendy restaurants, shopping and so much more. Don't miss out on an amazing opportunity to live in the heart of the city in style and comfort.
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:
857.4 sq. ft.
Main Level Finished Area:
857.4 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$649.07
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:
Northwest
Floor Location:
Other
Entry Level:
1
Stories Total:
44
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
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, 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, 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, Yes
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
10'2" × 9'8"
Main Floor
Balcony
16'5" × 6'4"
Main Floor
Bedroom
9'9" × 9'5"
Main Floor
Laundry
4'11" × 2'6"
Main Floor
Entrance
9'1" × 5'
Main Floor
Kitchen
15'7" × 9'9"
Main Floor
Dining Room
11'6" × 7'9"
Main Floor
Living Room
15' × 10'7"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
4'11" x 8'2"
Main Floor
No
3
4'11" x 7'7"
Title to Land:
Fee Simple
Community Features:
Shopping Nearby
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:
Sep 05, 2024
Days on Mkt:
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Listed by Rhinorealty
Data was last updated September 20, 2024 at 06:05 PM (UTC)
Area Statistics
Listings on market:
259
Avg list price:
$379,900
Min list price:
$175,000
Max list price:
$2,900,000
Avg days on market:
29
Min days on market:
1
Max days on market:
394
Avg price per sq.ft.:
$509.61
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