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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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221 1010 Railway Street
NONE Crossfield T0M 0S0

$159,900
Residential beds: 1 baths: 1.0 506 sq. ft. built: 2008

Welcome to 1010 Railway Street.
Photo 1: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
Photo 2: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
Photo 3: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
Photo 4: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
Photo 5: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
Photo 6: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
Photo 7: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
Photo 8: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
Photo 9: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
Photo 10: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
Photo 11: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
Photo 12: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
Photo 13: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
Photo 14: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2164830
Bedrooms:
1
Bathrooms:
1
Year Built:
2008
Move in Ready. 1 bedroom , 1 bathroom with fresh Paint and New carpet. 1 parking Stall included (#28) This cozy unit is Downtown, close to Shopping, Clinic, Post Office , Subway and the Splash Park.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Apartment
Total Living Area:
505.91 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$300.42
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Professional Management, Reserve Fund Contributions, Sewer, Trash, Water
HOA Fee Includes:
Lot Area:
750 sq. ft.
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:
East
Reg. Size:
Reg. Size Includes:
Unit Exposure:
North
Floor Location:
Other
Entry Level:
2
Stories Total:
3
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
3
Year built:
2008 (Age: 16)
Bedrooms:
1 (Above Grd: 1)
Bedrooms Above Grade:
1
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
0815824
Heating:
Baseboard
New Constr.:
No
Construction Material:
Brick, Vinyl Siding
Structure Type:
Low Rise (2-4 stories)
Ensuite:
No
Flooring:
Carpet, Linoleum
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Off Street, Stall
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
None, See Remarks
Condo Fee Frequency:
Monthly
Z-name Not Listed
NONE
Elevator(s), Parking
Dishwasher, Range Hood, Refrigerator, Stove(s)
NA
None Known
Restrictions
Floor
Type
Size
Other
Main Floor
Kitchen
10'6" × 5'7"
Main Floor
Living Room
13'5" × 10'2"
Main Floor
Bedroom - Primary
13'9" × 9'10"
Main Floor
Pantry
3'11" × 3'3"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
No Animal Home, No Smoking Home, Pantry
Exterior Features:
None
Patio And Porch Features:
None
Num. of Parcels:
0
Region:
Rocky View County
Zoning:
CBD
Listed Date:
Sep 12, 2024
Days on Mkt:
  • Photo 1: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
    Welcome to 1010 Railway Street.
  • Photo 2: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
    Inside the unit, looking back at the entry.
  • Photo 3: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
    The living room.
  • Photo 4: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
    The kitchen and counter space.
  • Photo 5: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
    The living room.
  • Photo 6: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
    Another shot of the living room and kitchen.
  • Photo 7: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
    The hallway to bedroom on left, pantry/storage room in the middle and the bathroom to the right.om area.
  • Photo 8: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
    The four-piece bathroom.
  • Photo 9: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
    The primary/master bedroom.
  • Photo 10: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
    Another shot of the primary/master bedroom.
  • Photo 11: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
    Community image, local shopping.
  • Photo 12: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
    Community image, local shopping.
  • Photo 13: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
    Railway Street, Crossfield, AB.
  • Photo 14: 221 1010 Railway Street: Crossfield Apartment for sale : MLS®# A2164830
    Community image, local shopping.
Listed by CIR Realty
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
30
Avg list price:
$549,500
Min list price:
$159,900
Max list price:
$770,000
Avg days on market:
37
Min days on market:
3
Max days on market:
178
Avg price per sq.ft.:
$352.93
These statistics are generated based on the current listing's property type and located in Crossfield. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706