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)
Contact Diane Richardson Easily With These Simple Steps:
Contact Form: Use the contact form on my website to send me a direct message. Please include your name, email address, and a message, and I will respond as soon as possible.
Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.
Email Address: Reach out to me at Diane for any inquiries or to request additional information.
Live Chat: Utilize the live chat feature on my website for real-time communication and immediate answers to your questions.
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!
Coronation Place – ONE unique designer building, known for 10’+ height, gallery-loft style apartments, and situated in the heart of the Beltline. Apartment 405 – ONE of only twelve units with 180-degree unobstructed downtown views, overlooking Haultain Tennis Courts/Park, AND the first property including this singular exposure in the past two years, to be offered for new ownership at 1410 2 Street SW. Prime opportunities are few and far between, but the unicorn combination is adding stylish high-end upgrades, fresh paint, new appliances, a gorgeous vaulted open-concept layout (almost 800 square feet, contemporary eat-in kitchen, oversized living space, 2 bedrooms, 2 full bathrooms, walk-through dressing room closet, ensuite bathroom, in-suite laundry room, large windows, wide balcony) and the building itself has secure, underground titled parking with heated interior and garage ramp, plenty of bicycle storage, spacious personal locker rooms, full maintenance, dual security entrances, healthy management and large reserve fund taking care of only 69 total residences. VIEW the iGuide 3D Tour link, Detailed Floor Plans (two options for good measure), and some of many potential Virtually Furnished photos to show off the flexible plan. The layout invites creative flair – a deep wide welcoming Foyer (perfect for seasonal gatherings), a marble-counter-accented modern white kitchen, a 6-person full slab eating or presentation service island, and a bright living room that includes double garden doors, transoms and sidelight windows, all graced with natural hardwood flooring through the two independent bedrooms on each side. Recessed lighting, crystal chandeliers, updated plumbing and hardware and stainless steel main appliances, all combine to offer a bright and inviting environment, and the finishings are versatile to inexpensive adjustments for taste. Coronation Place is surrounded by Calgary’s prestigious core locales: the Design District, Downtown’s West End and East Village, Chinatown, Sunalta, Lower Mount Royal, Mission and Cliff Bungalow, and offers some of the best restaurants for all palettes, shopping for all budgets, pastimes for the activity-oriented, and schooling opportunities, that the city has to provide. Lots of examples are attached in the listing, as well as all Condominium Documents, ready for review. The City Core Communities are a mecca for boutique health circuits as well: pilates, spin, boxing, barre and full work-out facilities. Professionals not wanting to commute will find the location ideal, all ages and walks of life! There are no comparable listings, with these finishings, equal view and park location, unique layout elements and curb appeal style - one of a kind in every way! Second fridge will be removed if not purchased with apartment.
Common Area Maintenance, Gas, Heat, Insurance, Interior Maintenance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Security, Sewer, Snow Removal, Trash, Water
2nd Refrigerator (will be removed if not wanted), Chandeliers, Wall-Hung Mirrors
Encroachment, Restrictive Covenant
Restrictions, Cats OK, Dogs OK
Floor
Type
Size
Other
Main Floor
Foyer
8'10"2.69 m × 7'1"2.16 m
Main Floor
Eat in Kitchen
13'1"3.99 m × 12'2"3.71 m
Main Floor
Living Room
15'6"4.72 m × 13'3"4.04 m
Main Floor
Balcony
11'4"3.45 m × 4'10"1.47 m
Main Floor
Bedroom - Primary
12'6"3.81 m × 10'1"3.07 m
Main Floor
Bedroom
12'3.66 m × 7'11"2.41 m
Main Floor
Laundry
7'4"2.24 m × 5'1"1.55 m
Main Floor
Walk-In Closet
7'5"2.26 m × 4'5"1.35 m
Main Floor
Pantry
2'9".84 m × 1'9".53 m
Main Floor
Storage
6'7"2.01 m × 1'9".53 m
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
7' x 7'4"
Main Floor
No
3
5'9" x 6'7"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Breakfast Bar, Chandelier, Elevator, French Door, High Ceilings, Kitchen Island, Natural Woodwork, No Animal Home, No Smoking Home, Open Floorplan, Pantry, Soaking Tub, Stone Counters, Vaulted Ceiling(s), Walk-In Closet(s)
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
240
Avg list price:
$382,450
Min list price:
$188,000
Max list price:
$2,900,000
Avg days on market:
44
Min days on market:
1
Max days on market:
447
Avg price per sq.ft.:
$504.15
These statistics are generated based on the current listing's property type
and located in
Beltline. Average values are
derived using median calculations.
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.