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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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401 1724 26 Avenue SW
Bankview Calgary T2T 1C9

$335,000
Residential beds: 2 baths: 2.0 1,092 sq. ft. built: 2005

Main Photo: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 1: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 2: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 3: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 4: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 5: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 6: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 7: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 8: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 9: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 10: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 11: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 12: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 13: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 14: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 15: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 16: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 17: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 18: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 19: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Photo 20: 401 1724 26 Avenue SW in Calgary: Bankview Apartment for sale : MLS®# A2167213
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2167213
Bedrooms:
2
Bathrooms:
2
Year Built:
2005
Welcome to The Pavilion! Discover your dream home in the highly sought-after inner-city community of Bankview. Just steps away from the trendy Marda Loop, this beautifully maintained condo embodies the best of urban living. As you step inside, you’re greeted by a spacious open floor plan that maximizes both style and functionality. The modern kitchen features sleek cabinetry, a generous pantry, and ample counter space, making it a chef’s delight. The kitchen seamlessly flows into a bright living area, filled with natural light from large windows, creating an inviting atmosphere for relaxation or entertaining. This unit boasts 2 bedrooms, 2 bathrooms, and 1,092 square feet of well-designed living space, complete with a convenient laundry/storage room. The generous patio off the living room is ideal for barbecuing or sipping your morning coffee while enjoying the outdoors. Additional highlights include an assigned secure heated underground parking stall and covered visitor parking for your guests. With its prime location and competitive pricing, this exceptional condo won’t last long! Schedule your private viewing today and experience all that this remarkable property has to offer!
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:
1,092 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$896.42
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, 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:
Southwest
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Southwest
Floor Location:
Top
Entry Level:
4
Stories Total:
4
Levels:
Single Level Unit
End Unit:
1 Common Wall, End Unit
Total Rooms Above Grade:
5
Year built:
2005 (Age: 19)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0511708
Heating:
Hot Water, Natural Gas
New Constr.:
No
Construction Material:
Stucco, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Carpet, Tile
Cooling:
Wall Unit(s)
Fireplaces:
0
Garage:
0
Parking:
Stall, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Z-name Not Listed
Bankview (Calgary)
Elevator(s)
Dishwasher, Dryer, Electric Stove, Range Hood, Refrigerator, Washer, Window Coverings
None
Easement Registered On Title, Pet Restrictions or Board approval Required, Utility Right Of Way
Restrictions, Cats OK
Floor
Type
Size
Other
Main Floor
Laundry
9'4" × 4'2"
Main Floor
Living Room
15'8" × 13'3"
Main Floor
Dining Room
16'5" × 10'
Main Floor
Kitchen
17' × 12'4"
Main Floor
Pantry
3'8" × 3'7"
Main Floor
Balcony
13'3" × 5'
Main Floor
Bedroom - Primary
14'11" × 11'8"
Main Floor
Walk-In Closet
6'2" × 5'10"
Main Floor
Bedroom
13'2" × 9'9"
Main Floor
Balcony
15'10" × 2'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 8'
Main Floor
Yes
4
5'10" x 8'8"
Title to Land:
Fee Simple
Community Features:
Golf
Interior Features:
Open Floorplan, Pantry
Exterior Features:
None
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C2
Listed Date:
Sep 26, 2024
Days on Mkt:
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Listed by eXp Realty
Data was last updated November 14, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
36
Avg list price:
$436,950
Min list price:
$185,000
Max list price:
$2,378,000
Avg days on market:
41
Min days on market:
6
Max days on market:
198
Avg price per sq.ft.:
$416.24
These statistics are generated based on the current listing's property type and located in Bankview. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706