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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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1424 76 Cornerstone Passage NE
Cornerstone Calgary T3N 0Y5

$350,000
Residential beds: 2 baths: 2.0 667 sq. ft. built: 2021

Main Photo: 1424 76 Cornerstone Passage NE in Calgary: Cornerstone Apartment for sale : MLS®# A2167017
Photo 1: 1424 76 Cornerstone Passage NE in Calgary: Cornerstone Apartment for sale : MLS®# A2167017
Photo 2: 1424 76 Cornerstone Passage NE in Calgary: Cornerstone Apartment for sale : MLS®# A2167017
Photo 3: 1424 76 Cornerstone Passage NE in Calgary: Cornerstone Apartment for sale : MLS®# A2167017
Photo 4: 1424 76 Cornerstone Passage NE in Calgary: Cornerstone Apartment for sale : MLS®# A2167017
Photo 5: 1424 76 Cornerstone Passage NE in Calgary: Cornerstone Apartment for sale : MLS®# A2167017
Photo 6: 1424 76 Cornerstone Passage NE in Calgary: Cornerstone Apartment for sale : MLS®# A2167017
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Photo 36: 1424 76 Cornerstone Passage NE in Calgary: Cornerstone Apartment for sale : MLS®# A2167017
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2167017
Bedrooms:
2
Bathrooms:
2
Year Built:
2021
Welcome to this stunning TWO BEDROOM, TWO FULL BATHROOM condo located in the Legends of Cornerstone. Built in 2021, this impeccably clean TOP FLOOR unit offers beautiful views from the BALCONY, along with titled underground parking and a storage space. Featuring 9’ ceilings, oversized windows, and laminate flooring throughout, this apartment is designed for comfort. Inside, you'll find a bright, open layout that leads to a modern kitchen with ceiling-height cabinets and quartz countertops. The spacious living area opens onto a generous balcony. Primary bedroom is well-sized, featuring a walk-in closet that connects to a 4-piece bathroom. There comes another spacious second room, 4 piece bathroom and ensuite laundry . Amenities include a fully equipped gym with a yoga studio, a pet spa, a spinning room, and various exercise equipment. Additionally, there’s a community room with a kitchen and a theater for hosting gatherings with family and friends. With easy access to transportation, parks, and the future LRT Station, this development is nestled in a thriving Northeast community, just 20 minutes to Downtown Calgary, 10 minutes to Cross Iron Mills Mall, and a quick drive to the Calgary International Airport. Schedule your viewing today!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Low-Rise(1-4)
Total Living Area:
666.73 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$368.56
Condo Fee Includes:
Amenities of HOA/Condo, Common Area Maintenance, Gas, Heat, Insurance, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Water
HOA Fee Frequency:
Annually
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:
North
Floor Location:
Top
Entry Level:
4
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls, No One Above
Total Rooms Above Grade:
4
Year built:
2021 (Age: 3)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
1812137
Heating:
Baseboard
Basement:
None
New Constr.:
No
Construction Material:
Stone, Vinyl Siding, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Ceramic Tile, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Heated Garage, Secured, Titled, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
HOA Fee:
$52.50
Condo Fee Frequency:
Monthly
Z-name Not Listed
Cornerstone (Calgary)
Community Gardens, Elevator(s), Fitness Center, Park, Party Room, Playground, Recreation Facilities, Secured Parking, Visitor Parking
Dishwasher, Electric Stove, Microwave Hood Fan, Refrigerator, Washer/Dryer, Window Coverings
NONE
Board Approval, Pets Allowed
Restrictions, Cats OK, Dogs OK, Yes
Floor
Type
Size
Other
Main Floor
Bedroom
10'5" × 10'2"
Main Floor
Kitchen
11'11" × 11'8"
Main Floor
Living Room
12'3" × 8'8"
Main Floor
Bedroom - Primary
10'10" × 10'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5' x 7'10"
Main Floor
Yes
4
7'9" x 5'
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Closet Organizers, Kitchen Island, Laminate Counters, No Animal Home, No Smoking Home, Open Floorplan, Quartz Counters, Recessed Lighting, Storage, Vinyl Windows, Walk-In Closet(s)
Exterior Features:
Balcony, Courtyard, Garden
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone NE
Zoning:
M-1
Listed Date:
Sep 19, 2024
Days on Mkt:
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Listed by Century 21 Bravo Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
84
Avg list price:
$664,900
Min list price:
$275,000
Max list price:
$1,173,900
Avg days on market:
33
Min days on market:
1
Max days on market:
131
Avg price per sq.ft.:
$383.94
These statistics are generated based on the current listing's property type and located in Cornerstone. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706