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

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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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614 Kingsmere Way SE
Kings Heights Airdrie T2V 2H8

$869,900
Residential beds: 6 baths: 5.0 2,335 sq. ft. built: 2020

Main Photo: 614 Kingsmere Way SE: Airdrie Detached for sale : MLS®# A2178634
Photo 1: 614 Kingsmere Way SE: Airdrie Detached for sale : MLS®# A2178634
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2178634
Bedrooms:
6
Bathrooms:
5
Year Built:
2020
Welcome to this stunning 2300+ sqft home, located in the highly sought-after community of Kings Heights, Airdrie. The main floor features a versatile den that can serve as a home office or additional room, as well as a convenient half-bathroom. The spacious living room is flooded with natural light through large windows, creating a bright and inviting atmosphere. The upgraded kitchen is a chef's dream, complete with a gas cooktop, built-in microwave, built-in oven, and a walk-through pantry for ultimate convenience. The dining area opens to a deck with a BBQ gas line, perfect for outdoor entertaining. Upstairs, you'll find a generously-sized bonus room, two beautifully designed primary suites, two additional bedrooms, and a well-appointed 4-piece bathroom. For added convenience, the laundry room is located on the same floor. The basement offers an illegal suite with two additional large rooms, a 4-piece bathroom, a full kitchen, and a rec room/living room, plus a separate laundry area. The home is packed with upgrades throughout, making it a true standout in the neighborhood. Don't miss your chance to view this exceptional property. Book your private showing today!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
2 Storey
Total Living Area:
2,334.8 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
3,567 sq. ft.
Lot Frontage:
31'11⅞"
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:
West
Reg. Size:
Reg. Size Includes:
Levels:
Two
Total Rooms Above Grade:
9
Year built:
2020 (Age: 4)
Bedrooms:
6 (Above Grd: 4)
Bedrooms Above Grade:
4
Bedrooms Below Grade:
2
Bathrooms:
5.0 (Full:4, Half:1)
Plan:
1811624
Heating:
Forced Air, Natural Gas
Basement:
Separate/Exterior Entry, Finished, Full, Suite
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Laminate, Tile
Cooling:
None
Fireplaces:
2
Fireplace Details:
Electric
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
In Basement, Upper Level
HOA Fee:
$85.00
Kings Heights
Park, Playground
Built-In Oven, Dishwasher, Dryer, Gas Cooktop, Microwave, Refrigerator, Washer
Build in master bedroom side table
None Known
Floor
Type
Size
Other
Main Floor
Den
9'11" × 9'1"
Main Floor
Living Room
19'6" × 12'6"
Main Floor
Kitchen
13' × 8'9"
Main Floor
Dining Room
10'11" × 9'11"
Main Floor
Pantry
5'2" × 4'10"
Upper Level
Bedroom - Primary
14'10" × 12'4"
Upper Level
Bedroom
11'1" × 10'3"
Upper Level
Bedroom
11'11" × 9'10"
Upper Level
Bedroom
14'7" × 12'7"
Upper Level
Bonus Room
12'8" × 9'11"
Basement
Bedroom
11'6" × 11'5"
Basement
Bedroom
11'7" × 9'11"
Basement
Kitchen
9'9" × 6'11"
Basement
Dining Room
12'1" × 5'10"
Basement
Game Room
15'6" × 12'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
0' x 0'
Upper Level
Yes
5
0' x 0'
Upper Level
Yes
4
0' x 0'
Upper Level
No
4
0' x 0'
Basement
No
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
High Ceilings
Exterior Features:
Private Entrance, Private Yard
Patio And Porch Features:
See Remarks
Lot Features:
Irregular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Airdrie
Zoning:
R1-U
Listed Date:
Nov 11, 2024
Days on Mkt:
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Listed by CIR Realty
Data was last updated November 14, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
377
Avg list price:
$599,900
Min list price:
$200,000
Max list price:
$1,749,900
Avg days on market:
37
Min days on market:
1
Max days on market:
255
Avg price per sq.ft.:
$361.6
These statistics are generated based on the current listing's property type and located in Airdrie. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706