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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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When contacting me, please ensure to include the property address or MLS® number for the listing you are interested in. I look forward to hearing from you!

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127 Edgewood Drive NW
Edgemont Calgary T3A 2T3

$920,000
Residential beds: 4 baths: 4.0 2,211 sq. ft. built: 1984

Main Photo: 127 Edgewood Drive NW in Calgary: Edgemont Detached for sale : MLS®# A2170225
Photo 1: 127 Edgewood Drive NW in Calgary: Edgemont Detached for sale : MLS®# A2170225
Photo 2: 127 Edgewood Drive NW in Calgary: Edgemont Detached for sale : MLS®# A2170225
Photo 3: 127 Edgewood Drive NW in Calgary: Edgemont Detached for sale : MLS®# A2170225
Photo 4: 127 Edgewood Drive NW in Calgary: Edgemont Detached for sale : MLS®# A2170225
Photo 5: 127 Edgewood Drive NW in Calgary: Edgemont Detached for sale : MLS®# A2170225
Photo 6: 127 Edgewood Drive NW in Calgary: Edgemont Detached for sale : MLS®# A2170225
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Photo 45: 127 Edgewood Drive NW in Calgary: Edgemont Detached for sale : MLS®# A2170225
Photo 46: 127 Edgewood Drive NW in Calgary: Edgemont Detached for sale : MLS®# A2170225
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2170225
Bedrooms:
4
Bathrooms:
4
Year Built:
1984
Welcome to this beautifully upgraded home in the desirable community of Edgemont. Situated on a quiet street and backing onto a serene green space, this spacious 2-storey home offers the perfect blend of modern elegance and comfortable family living. The main floor boasts a bright and open layout featuring a formal dining room, front great room with large south facing windows and a cozy living room with a wood burning fireplace. The gourmet kitchen is a chef’s dream, complete with quartz countertops, a peninsula island, built-in stainless steel built-in appliances, white cabinetry, and an induction cooktop stove. Enjoy views of the expansive backyard through the bay window, which highlights the charming stone accent wall. The kitchen also offers extra built-ins, including a beverage fridge. Also included on the main level is the powder room and a convenient rear mudroom with upgraded laundry area. Upstairs, you’ll find three generously sized bedrooms, including a huge primary bedroom with a walk-in closet and a luxurious 4-piece en-suite featuring in-floor heating, a soaker tub and a curb-less walk-in shower. The upper level also features vaulted ceilings with wood paneling and a versatile central room with a built-in desk and bookshelves—ideal for a home office or study area. The main 3-piece bathroom is perfect for the kids and they will love the space of their own. The fully developed basement adds even more living space with a 4th bedroom, a den, a recreation room, family room and a 3-piece bathroom with another curb-less walk-in shower. Step outside to your private oasis: a large backyard with a partially covered deck, a storage shed, and a play structure—all backing onto peaceful green space. The double attached garage completes this incredible package. This home has been meticulously updated with modern light décor, new paint, upgraded bathrooms, stylish lighting, and flooring throughout. With central air conditioning and a newer furnace this property offers everything you need for comfortable, upscale living. Don’t miss this opportunity to own a truly special home in one of Calgary’s most sought-after neighborhoods!
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:
2,211.25 sq. ft.
Main Level Finished Area:
1,266.04 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,254.45 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
7,416 sq. ft.
Lot Frontage:
37'8¾"
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:
Levels:
Two
Total Rooms Above Grade:
7
Year built:
1984 (Age: 40)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
8011560
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Stucco
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Laminate, Tile
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Living Room, Wood Burning
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Laundry Room, Main Level
Edgemont
Bar Fridge, Built-In Oven, Central Air Conditioner, Dishwasher, Dryer, Electric Cooktop, Microwave, Range Hood, Refrigerator, Washer, Window Coverings
Shed
Restrictive Covenant, Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Kitchen
13'6" × 12'6"
Main Floor
Dining Room
14' × 9'6"
Main Floor
Living Room
16'2" × 14'
Main Floor
Great Room
14'6" × 12'6"
2nd Floor
Bedroom - Primary
14'2" × 13'8"
2nd Floor
Bedroom
10'10" × 10'4"
2nd Floor
Bedroom
10'10" × 9'4"
Lower Level
Family Room
14' × 12'
Lower Level
Game Room
17'2" × 12'
Lower Level
Den
15'2" × 12'
Lower Level
Bedroom
13'4" × 13'
Floor
Ensuite
Pieces
Other
Main Floor
No
2
2nd Floor
Yes
4
2nd Floor
No
3
Lower Level
No
3
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby
Interior Features:
Bar, Bookcases, Breakfast Bar, Built-in Features, Closet Organizers, High Ceilings, No Animal Home, No Smoking Home, Open Floorplan, Quartz Counters, Recessed Lighting, Soaking Tub, Storage, Walk-In Closet(s)
Exterior Features:
Awning(s), Private Yard
Patio And Porch Features:
Awning(s), Deck
Lot Features:
Backs on to Park/Green Space, Irregular Lot
Num. of Parcels:
0
Outbuildings:
Shed
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone NW
Zoning:
R-C1
Listed Date:
Oct 03, 2024
Days on Mkt:
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Listed by RE/MAX First
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
30
Avg list price:
$634,900
Min list price:
$283,500
Max list price:
$1,238,832
Avg days on market:
30
Min days on market:
5
Max days on market:
134
Avg price per sq.ft.:
$383.97
These statistics are generated based on the current listing's property type and located in Edgemont. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706