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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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When contacting me, please ensure to include the property address or MLS® number for the listing you are interested in. I look forward to hearing from you!

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2220 395 Skyview Parkway NE
Cityscape Calgary T3N 2K1

$389,000
Residential beds: 2 baths: 2.0 694 sq. ft. built: 2024

Main Photo: 2220 395 Skyview Parkway NE in Calgary: Cityscape Apartment for sale : MLS®# A2162378
Photo 1: 2220 395 Skyview Parkway NE in Calgary: Cityscape Apartment for sale : MLS®# A2162378
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Photo 30: 2220 395 Skyview Parkway NE in Calgary: Cityscape Apartment for sale : MLS®# A2162378
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2162378
Bedrooms:
2
Bathrooms:
2
Year Built:
2024
This brand-new apartment offers a spacious and stylish layout, perfect for those seeking a comfortable and convenient lifestyle. The apartment offers the luxury of spacious living areas, including a well-appointed kitchen with modern appliances, in-suite laundry, and a cozy den ideal for relaxation or home office use. The Primary bedroom with 3pc ensuite bathroom provides ample space for relaxation and privacy. The second bedroom with nice closet space is perfect for your family or guess. Bright balcony face to inside of the building protect your privacy. Enjoy the benefits of living in a well-maintained building, including amenities such as a fitness center, bicycle storage, and secure parking. Located in the vibrant Cityscape community, offering easy access to shops, restaurants, entertainment, and the airport. This is your opportunity to experience the best of urban living. Don't miss out on this incredible opportunity!
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:
693.96 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$285.26
Condo Fee Includes:
Common Area Maintenance, Interior Maintenance, Maintenance Grounds, Professional Management, 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:
Southwest
Reg. Size:
Reg. Size Includes:
Unit Exposure:
South
Floor Location:
Other
Entry Level:
2
Stories Total:
5
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
2024 (Age: 0)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
2411038
Heating:
Baseboard
New Constr.:
Yes
Construction Material:
Composite Siding
Structure Type:
High Rise (5+ stories)
Ensuite:
Yes
Flooring:
Vinyl Plank
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
Cityscape
Bicycle Storage, Fitness Center, Recreation Room
Dishwasher, Electric Range, Microwave Hood Fan, Refrigerator, Washer/Dryer, Window Coverings
N/A
None Known
Restrictions
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
11'1" × 9'
Main Floor
Bedroom
9'7" × 9'1"
Main Floor
Den
6' × 6'
Main Floor
Living Room
11'3" × 10'2"
Main Floor
Kitchen
11'7" × 11'2"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
8'3" x 4'11"
Main Floor
Yes
3
7'4" x 5'4"
Title to Land:
Fee Simple
Community Features:
Shopping Nearby, Sidewalks
Interior Features:
Kitchen Island, Walk-In Closet(s)
Exterior Features:
Balcony, BBQ gas line
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone NE
Zoning:
M-X2 d111
Listed Date:
Sep 06, 2024
Days on Mkt:
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Listed by CIR Realty
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
61
Avg list price:
$515,000
Min list price:
$325,000
Max list price:
$899,900
Avg days on market:
27
Min days on market:
1
Max days on market:
123
Avg price per sq.ft.:
$403.98
These statistics are generated based on the current listing's property type and located in Cityscape. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706