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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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5 Cimarron Springs Court
Cimarron Springs Okotoks T1S 0M1

$749,900
Residential beds: 4 baths: 4.0 2,532 sq. ft. built: 2012

Main Photo: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 1: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 2: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 3: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 4: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 5: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 6: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 7: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 8: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 9: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 10: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 11: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 12: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 13: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 14: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 15: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 16: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 17: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 18: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 19: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 20: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 21: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 22: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 23: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 24: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 25: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 26: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 27: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 28: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 29: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 30: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 31: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 32: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 33: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 34: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 35: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 36: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Photo 37: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2167516
Bedrooms:
4
Bathrooms:
4
Year Built:
2012
Eye catching former show home in Okotoks Cimarron Springs is perfect for the busy family on the go. 3343 sq ft fully finished on a popular cul -de sac location. The tiled foyer greets you while the open floor plan features 9 ft ceiling on the main and upper levels.(stereo speakers) Hardwood flooring welcomes you into the huge kitchen where you find quartz counters, stainless steel appliances inc gas stove, full height cabinetry with soft close drawers and under mount lighting. Big windows to let in the natural sunlight and a living room with gas fireplace. Convenient home office/den with built ins. Mud room and extra closet. Upper level bonus room with dramatic 10 foot tray ceiling. Primary bedroom leads to the 5 pc ensuite and walk in closet provides easy access to the laundry room. There's 2 larger kids bedrooms and a 4pc bathroom. The lower level features living room. a rec room, bedroom #4 (currently used as a home gym) 3 pc bathroom, laundry rough in, a hobby room (aka man cave).Also 22' 10 x 22' 8 oversize HEATED garage, two furnaces, 2 air conditioning units, South facing back yard with 2 tier deck, Inground sprinklers. Close to shopping and the Okotoks pathway system.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
2,531.71 sq. ft.
Main Level Finished Area:
1,193.71 sq. ft.
Upper Level Finished Area:
1,338 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,178 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
4,550 sq. ft.
Lot Frontage:
42'
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:
North
Reg. Size:
Reg. Size Includes:
Unit Exposure:
North
Levels:
Two
Total Rooms Above Grade:
8
Year built:
2012 (Age: 12)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
1113484
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
Builder:
Trico
New Constr.:
No
Construction Material:
Concrete, Stone, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Brick Facing, Family Room, Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Upper Level
Cimarron Springs
Central Air Conditioner, Dishwasher, Dryer, Garage Control(s), Garburator, Gas Stove, Humidifier, Microwave Hood Fan, Refrigerator, Washer, Water Softener, Window Coverings
sheds
Restrictive Covenant, Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Entrance
7'7" × 5'8"
Main Floor
Living Room
15'3" × 14'
Main Floor
Dining Room
12' × 11'3"
Main Floor
Kitchen
19'3" × 11'4"
Main Floor
Breakfast Nook
12'5" × 10'
Main Floor
Den
8'9" × 8'
Main Floor
Mud Room
9'9" × 4'7"
Upper Level
Bedroom - Primary
15'5" × 15'3"
Upper Level
Bedroom
14' × 10'9"
Upper Level
Bedroom
12'2" × 12'1"
Upper Level
Bonus Room
15'2" × 15'
Upper Level
Laundry
11'8" × 6'1"
Basement
Family Room
15'3" × 13'9"
Basement
Game Room
14' × 7'5"
Basement
Bedroom
16'8" × 9'2"
Basement
Hobby Room
9'1" × 8'9"
Basement
Storage
18'7" × 9'4"
Basement
Furnace/Utility Room
14'2" × 8'6"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
5' x 5'
Upper Level
Yes
5
13'5" x 9'8"
Upper Level
No
4
8'2" x 6'
Basement
No
3
11'6" x 8'6"
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Built-in Features, Ceiling Fan(s), High Ceilings, Open Floorplan, Quartz Counters, Smart Home, Storage, Vinyl Windows, Wired for Sound
Exterior Features:
Private Yard
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Underground Sprinklers
Num. of Parcels:
0
Fencing:
Fenced
Region:
Foothills County
Zoning:
TN
Listed Date:
Sep 26, 2024
Days on Mkt:
  • Photo 1: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
    Photo 1 of 37
  • Photo 2: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
    Gorgeous Foyer
  • Photo 3: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
    9 ft ceiling
  • Photo 4: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
    Dining room
  • Photo 5: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
    Quartz counters
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  • Photo 10: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
    Living room
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  • Photo 12: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
    Home office/den
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  • Photo 14: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
    Mud room
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  • Photo 16: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
    Bonus room with 10 ft tray ceiling
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  • Photo 18: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
    Primary bedroom with tray ceiling
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  • Photo 21: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
    5 pc en suite
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  • Photo 37: 5 Cimarron Springs Court: Okotoks Detached for sale : MLS®# A2167516
    South backyard
Listed by Royal LePage Solutions
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
93
Avg list price:
$650,000
Min list price:
$215,000
Max list price:
$3,995,000
Avg days on market:
34
Min days on market:
1
Max days on market:
254
Avg price per sq.ft.:
$383.53
These statistics are generated based on the current listing's property type and located in Okotoks. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706