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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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  1. 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.

  2. Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

  3. Email Address: Reach out to me at Diane for any inquiries or to request additional information.

  4. 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!

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15 Glenpatrick Crescent
Glenbow Cochrane T4C 1G3

$330,000
Residential beds: 1 baths: 1.0 950 sq. ft. built: 1983

Main Photo: 15 Glenpatrick Crescent: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2178187
Photo 1: 15 Glenpatrick Crescent: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2178187
Photo 2: 15 Glenpatrick Crescent: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2178187
Photo 3: 15 Glenpatrick Crescent: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2178187
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2178187
Bedrooms:
1
Bathrooms:
1
Year Built:
1983
Judicial sale: Corner lot bi-level near shopping and schools. Access to property is not currently possible. No representation by seller or listing realtor
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:
Bi-Level, Side by Side
Total Living Area:
950 sq. ft.
Main Level Finished Area:
950 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
3,707 sq. ft.
Lot Frontage:
39'½"
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:
Entry Level:
1
Levels:
Bi-Level
End Unit:
1 Common Wall
Total Rooms Above Grade:
1
Year built:
1983 (Age: 41)
Bedrooms:
1 (Above Grd: 1)
Bedrooms Above Grade:
1
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
7811169
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Metal Siding
Structure Type:
Duplex
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Other
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Off Street
Parking Places:
0.0
Parking Total/Covered:
0 / -
Laundry Features:
In Unit
Glenbow
None
NONE
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
11' × 9'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Playground, Schools Nearby, Shopping Nearby
Interior Features:
See Remarks
Exterior Features:
None
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Corner Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Rocky View County
Zoning:
R-MX
Listed Date:
Nov 08, 2024
Days on Mkt:
  • Photo 1: 15 Glenpatrick Crescent: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2178187
    Photo 1 of 3
  • Photo 2: 15 Glenpatrick Crescent: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2178187
    Photo 2 of 3
  • Photo 3: 15 Glenpatrick Crescent: Cochrane Semi Detached (Half Duplex) for sale : MLS®# A2178187
    Photo 3 of 3
Listed by eXp Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
188
Avg list price:
$659,900
Min list price:
$249,900
Max list price:
$1,375,000
Avg days on market:
34
Min days on market:
1
Max days on market:
399
Avg price per sq.ft.:
$370.65
These statistics are generated based on the current listing's property type and located in Cochrane. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706