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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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402 228 26 Avenue SW
Mission Calgary T2S 3C6

$750,000
Residential beds: 1 baths: 2.0 1,220 sq. ft. built: 2000

Main Photo: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
Photo 1: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
Photo 2: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
Photo 3: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
Photo 4: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
Photo 5: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
Photo 6: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
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Photo 8: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
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Photo 10: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
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Photo 12: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
Photo 13: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
Photo 14: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
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Photo 16: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
Photo 17: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
Photo 18: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
Photo 19: 402 228 26 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2136006
Status:
Sold
Sold Date:
Aug 01, 2024
Listed Price:
$774,500
Sold Price:
$750,000
Sold in:
65 days
Prop. Type:
Residential
MLS® Num:
A2136006
Bedrooms:
1
Bathrooms:
2
Year Built:
2000
Welcome to The Grandview, one of the city's most sought-after buildings! This expansive unit features an open floor plan with grand windows that frame picturesque views of mature trees and the river. Located in Mission, it's just steps away from grocery stores, restaurants, and scenic river pathways. After your adventures, retreat to this tranquil haven. The kitchen, a hub of culinary inspiration, offers ample cabinets, a pantry for extra storage, and a layout designed for seamless interaction with guests. At the heart of this open concept, the dining area is perfect for hosting gatherings. Relax in the inviting living room by the fireplace, enjoying the serene views. Step out onto the expansive glass-railed balcony to host summer barbecues or simply bask in the breathtaking scenery. A spacious den provides versatility, serving as a formal dining room, home office, or hobby space. The primary suite accommodates large furniture and includes a luxurious 5-piece ensuite for daily indulgence. Additionally, there's a convenient powder room for guests. This amenity-rich building offers underground parking, a 24-hour concierge, guest suites, a party room, storage lockers, and more. Its unbeatable location supports a walkable lifestyle, with trendy restaurants, shops, tennis courts, parks, and the popular 4th Street and 17th Avenue all within walking distance. Don't miss out—call today to schedule your viewing of this stunning riverfront condo!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Negotiable
Suite:
No
Home Style:
Apartment
Total Living Area:
1,220.09 sq. ft.
Taxes:
$4,222 / 2023
Tax Assessed Value:
642500.0
Condo Fee:
$1,294.17
Condo Fee Includes:
Caretaker, Common Area Maintenance, Heat, Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Security Personnel, Sewer, Snow Removal, Trash, Water
Front Exposure:
East
Reg. Size Includes:
Interior Above Grade, Storage Area, Wall Thickness
Unit Exposure:
East
Floor Location:
Other
Entry Level:
4
Stories Total:
16
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
6
Year built:
2000 (Age: 24)
Bedrooms:
1
Bedrooms Above Grade:
1
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:1, Half:1)
Plan:
0012962
Heating:
Baseboard
New Constr.:
No
Construction Material:
Brick, Concrete, Stucco
Structure Type:
High Rise (5+ stories)
Ensuite:
Yes
Flooring:
Carpet, Tile
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Gas
Garage:
0
Parking:
Assigned, Parkade, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
The Grandview
Mission
Car Wash, Elevator(s), Guest Suite, Party Room, Secured Parking, Visitor Parking
Built-In Oven, Dishwasher, Electric Cooktop, Microwave, Refrigerator
NA
Restrictive Covenant, Utility Right Of Way
Restrictions
Floor
Type
Size
Other
Main Floor
Living Room
22' × 14'
Main Floor
Dining Room
8'8" × 7'6"
Main Floor
Walk-In Closet
6'6" × 6'
Main Floor
Foyer
7'5" × 6'11"
Main Floor
Kitchen
10'11" × 8'3"
Main Floor
Bedroom - Primary
14' × 12'3"
Main Floor
Den
11'4" × 9'9"
Main Floor
Laundry
7'6" × 5'8"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
5'5" x 5'7"
Main Floor
Yes
5
9'3" x 9'6"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Sidewalks, Walking/Bike Paths
Interior Features:
Chandelier, Crown Molding, Double Vanity, Open Floorplan, Soaking Tub, Storage
Exterior Features:
Courtyard
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-H2
Listed Date:
May 28, 2024
Days on Mkt:
65
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Listed by Century 21 Masters
Data was last updated September 28, 2024 at 02:05 AM (UTC)
Diane Richardson
Cell: 403-397-3706