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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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3420 1620 70 Street SE
Applewood Park Calgary T2A 7Z2

$249,500
Residential beds: 1 baths: 1.0 541 sq. ft. built: 2004

Main Photo: 3420 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2168724
Photo 1: 3420 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2168724
Photo 2: 3420 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2168724
Photo 3: 3420 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2168724
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Photo 19: 3420 1620 70 Street SE in Calgary: Applewood Park Apartment for sale : MLS®# A2168724
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2168724
Bedrooms:
1
Bathrooms:
1
Year Built:
2004
Welcome to this delightful 1-bedroom plus den condo, located just minutes from Stoney Trail for seamless commutes! This stylish unit features an open-concept layout, ideal for comfortable living and entertaining. Step outside to your spacious balcony, perfect for morning coffee or evening relaxation. Enjoy the convenience of nearby shopping, restaurants, and scenic walking paths, all within walking distance. With an underground parking stall included, you’ll have added security and peace of mind. Whether you’re a first-time buyer or looking to downsize, this condo has it all! Call your favorite realtor today to schedule a private showing and experience it for yourself!
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:
541 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$498.19
Condo Fee Includes:
Common Area Maintenance, Electricity, Gas, Heat, Insurance, Parking, Professional Management, Reserve Fund Contributions, 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:
South
Reg. Size:
Reg. Size Includes:
Unit Exposure:
South
Floor Location:
Other
Entry Level:
1
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
4
Year built:
2004 (Age: 20)
Bedrooms:
1 (Above Grd: 1)
Bedrooms Above Grade:
1
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
0410620
Heating:
Baseboard, Natural Gas
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
No
Flooring:
Hardwood, Linoleum
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Secured, Stall, Titled, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Pointe of View - Applewood
Applewood Park
Elevator(s), Secured Parking, Trash, Visitor Parking
Dishwasher, Electric Stove, Garage Control(s), Range Hood, Refrigerator, Washer/Dryer Stacked
N/A
Pet Restrictions or Board approval Required
Restrictions
Floor
Type
Size
Other
Main Floor
Living Room
11'7" × 11'4"
Main Floor
Bedroom - Primary
11'4" × 11'3"
Main Floor
Kitchen
11'8" × 8'
Main Floor
Dining Room
11'8" × 7'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5'1" x 7'8"
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Open Floorplan, See Remarks
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone E
Zoning:
M-C2 d116
Listed Date:
Sep 27, 2024
Days on Mkt:
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Listed by Century 21 Bravo Realty
Data was last updated September 29, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
10
Avg list price:
$524,200
Min list price:
$249,500
Max list price:
$715,000
Avg days on market:
16
Min days on market:
1
Max days on market:
63
Avg price per sq.ft.:
$413.05
These statistics are generated based on the current listing's property type and located in Applewood Park. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706