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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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212 540 18th Avenue
Cliff Bungalow Calgary T2S 0C5

$344,900
Residential beds: 2 baths: 1.0 884 sq. ft. built: 1982

Main Photo: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
Photo 1: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
Photo 2: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
Photo 3: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
Photo 4: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
Photo 5: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
Photo 6: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
Photo 7: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
Photo 8: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
Photo 9: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
Photo 10: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
Photo 11: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
Photo 12: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2160758
Bedrooms:
2
Bathrooms:
1
Year Built:
1982
Visit REALTOR® website for additional information. Renovated, move-in-ready executive condo in Cliff Bungalow. 2 bedrooms, 1 bathroom, 884 sq ft. Open-concept layout with laminate floors and south-facing balcony. Recent upgrades include fresh paint and more. Master bedroom features a custom closet and ensuite. Secure building with heated parking, gym, and storage locker. Close to restaurants, shops, parks, and pathways in the vibrant Mission community. Perfect for walking, jogging, or biking to work.
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:
883.5 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$598.91
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Parking, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, 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:
South
Reg. Size:
Reg. Size Includes:
Unit Exposure:
South
Floor Location:
Other
Entry Level:
2
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
1982 (Age: 42)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
8410403
Heating:
Baseboard
Basement:
None
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding
Structure Type:
Low Rise (2-4 stories)
Roof:
Tar/Gravel
Ensuite:
Yes
Flooring:
Ceramic Tile, Hardwood
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Z-name Not Listed
Cliff Bungalow
None
Dishwasher, Dryer, Freezer, Range, Refrigerator, Washer
N/A
None Known
Restrictions
Floor
Type
Size
Other
Main Floor
Balcony
12'1" × 4'7"
Main Floor
Living Room
12'2" × 12'
Main Floor
Dining Room
10'9" × 8'10"
Main Floor
Kitchen
8'6" × 8'5"
Main Floor
Bedroom
10'8" × 9'4"
Main Floor
Bedroom - Primary
11'6" × 11'5"
Main Floor
Walk-In Closet
8'1" × 4'11"
Main Floor
Entrance
7'1" × 4'
Main Floor
Laundry
11'4" × 4'10"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
8'10" x 4'11"
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby
Interior Features:
Walk-In Closet(s)
Exterior Features:
None
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C2
Listed Date:
Aug 28, 2024
Days on Mkt:
  • Photo 1: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
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  • Photo 2: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
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  • Photo 8: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
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  • Photo 9: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
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  • Photo 10: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
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  • Photo 11: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
    Photo 11 of 12
  • Photo 12: 212 540 18th Avenue in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160758
    Photo 12 of 12
Listed by PG Direct Realty Ltd.
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
21
Avg list price:
$344,900
Min list price:
$189,900
Max list price:
$2,000,000
Avg days on market:
48
Min days on market:
5
Max days on market:
138
Avg price per sq.ft.:
$414.54
These statistics are generated based on the current listing's property type and located in Cliff Bungalow. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706