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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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160 Elgin Meadows View SE
McKenzie Towne Calgary T2Z 0G1

$499,900
Residential beds: 2 baths: 3.0 1,141 sq. ft. built: 2007

Main Photo: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 1: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 2: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 3: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 4: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 5: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 6: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 7: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 8: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 9: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 10: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 11: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 12: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 13: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 14: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 15: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 16: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 17: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 18: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 19: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 20: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 21: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 22: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 23: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 24: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 25: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 26: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 27: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 28: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 29: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 30: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 31: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 32: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 33: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Photo 34: 160 Elgin Meadows View SE in Calgary: McKenzie Towne Semi Detached (Half Duplex) for sale : MLS®# A2173863
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2173863
Bedrooms:
2
Bathrooms:
3
Year Built:
2007
This beautifully maintained semi-detached home is move-in ready and just minutes from parks, schools, and the vibrant amenities of High Street. Nestled on a quiet street adjacent to an environmental reserve, it offers serene surroundings and a touch of nature. The home features two master bedrooms, 2.5 bathrooms, and strikes the perfect balance between space and functionality, making it ideal for investors, first-time buyers, or professionals seeking convenience. Recently renovated with fresh paint and new carpeting, the furnace and roof were replaced in 2022. The main level boasts an open-concept layout with hardwood flooring throughout. The kitchen showcases maple cabinets and sleek stainless steel appliances. Upstairs, you’ll find two master suites, each with a 4-piece bath and walk-in closet. The private southeast-facing backyard is fully fenced and landscaped, offering ample space for family enjoyment. A rear deck with room for a BBQ and seating area is perfect for entertaining friends and family in the summer. This home is a great opportunity to build equity in Elgin Village, with quick access to the amenities of McKenzie Towne, 130th Avenue, and Seton, all just minutes away from parks and green spaces. Don’t miss your chance to own this wonderful property!
Property Type:
Residential
Property Sub Type:
Semi Detached (Half Duplex)
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey, Side by Side
Total Living Area:
1,140.87 sq. ft.
Main Level Finished Area:
551.99 sq. ft.
Upper Level Finished Area:
588.88 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
2,647 sq. ft.
Lot Frontage:
24'3"
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:
Northwest
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Northwest
Entry Level:
1
Levels:
Two
End Unit:
1 Common Wall
Total Rooms Above Grade:
5
Year built:
2007 (Age: 17)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
0710755
Heating:
Forced Air, Natural Gas
Basement:
Full, Unfinished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Concrete, Vinyl Siding, Wood Frame
Structure Type:
Duplex
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Parking Pad
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement
McKenzie Towne
Dishwasher, Dryer, Electric Stove, Microwave Hood Fan, Refrigerator, Washer
none
None Known
Floor
Type
Size
Other
Main Floor
Living Room
13'8" × 13'
Main Floor
Dining Room
12' × 7'7"
Main Floor
Kitchen
14'1" × 8'8"
2nd Floor
Bedroom - Primary
13'9" × 13'2"
2nd Floor
Bedroom
12'10" × 11'10"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
3' x 6'9"
2nd Floor
Yes
4
5'1" x 8'
2nd Floor
Yes
4
5' x 8'
Title to Land:
Fee Simple
Community Features:
Lake, Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Chandelier, No Smoking Home, Open Floorplan
Exterior Features:
Garden, Private Yard
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Backs on to Park/Green Space, Cul-De-Sac, Environmental Reserve, Few Trees, Garden, No Neighbours Behind, Landscaped, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
R-G
Listed Date:
Oct 18, 2024
Days on Mkt:
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Listed by URBAN-REALTY.ca
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
34
Avg list price:
$441,200
Min list price:
$290,000
Max list price:
$959,800
Avg days on market:
23
Min days on market:
5
Max days on market:
83
Avg price per sq.ft.:
$391.28
These statistics are generated based on the current listing's property type and located in McKenzie Towne. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706