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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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308 1521 26 Avenue SW
South Calgary Calgary T2C 1C4

$295,000
Residential beds: 2 baths: 1.0 521 sq. ft. built: 2015

Main Photo: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 1: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 2: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 3: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 4: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 5: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 6: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 7: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 8: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 9: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 10: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 11: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 12: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 13: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 14: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 15: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 16: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 17: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 18: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 19: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Photo 20: 308 1521 26 Avenue SW in Calgary: South Calgary Apartment for sale : MLS®# A2138758
Status:
Sold
Sold Date:
Jul 18, 2024
Listed Price:
$299,000
Sold Price:
$295,000
Sold in:
42 days
Prop. Type:
Residential
MLS® Num:
A2138758
Bedrooms:
2
Bathrooms:
1
Year Built:
2015
Victory and Venture is a distinct urban complex situated in the lively Marda Loop area of South Calgary. This development offers suites with European flair and space-efficient features. The 521 sq ft suite exhibits sophisticated European design throughout. The e-intelligence system simplifies your life, allowing smartphone access to the building and unit, viewing security cameras, and controlling lights and thermostat, eliminating the need for keys, fobs, or swipe cards. The kitchen includes integrated stainless appliances such as a gas cooktop, built-in oven, quartz countertops, under-cabinet lighting, and sleek white cabinets. Both bedrooms come with floor-to-ceiling wardrobes and built-in organizers, with the second bedroom perfect for a home office. The suite features laminate flooring, 9 ft ceilings, in-suite laundry, and air conditioning. Enjoy a private patio with a natural gas BBQ hookup. The rooftop terrace includes BBQs, dining tables, fire pits, and lounging areas with stunning views of Calgary. This pet-friendly building also offers titled underground parking and a storage locker. Marda Loop is a walkable neighborhood with an array of shops and restaurants, plus plenty of pathways and parks. For commuters, downtown is just a 10-minute drive or an easy bus ride away. Experience the convenience of living here!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Immediate
Suite:
No
Home Style:
Low-Rise(1-4)
Total Living Area:
521 sq. ft.
Main Level Finished Area:
521 sq. ft.
Taxes:
$1,579 / 2024
Tax Assessed Value:
243500.0
Condo Fee:
$410.00
Condo Fee Includes:
Amenities of HOA/Condo, Heat, Insurance, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash, Water
Front Exposure:
North
Reg. Size Includes:
Interior Above Grade
Unit Exposure:
North
Floor Location:
Other
Entry Level:
3
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
4
Year built:
2015 (Age: 9)
Bedrooms:
2
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
1512592
Heating:
Baseboard
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
Low Rise (2-4 stories)
Roof:
Rubber
Ensuite:
No
Flooring:
Laminate, Tile
Cooling:
Sep. HVAC Units
Fireplaces:
0
Garage:
0
Parking:
Parkade, Stall, Titled, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Z-name Not Listed
South Calgary
Elevator(s), Parking, Roof Deck, Storage, Trash
Dishwasher, Dryer, Electric Range, Gas Stove, Refrigerator, Wall/Window Air Conditioner, Washer
N/A
Pet Restrictions or Board approval Required
Restrictions
Floor
Type
Size
Other
Main Floor
Bedroom
9'9" × 8'3"
Main Floor
Kitchen
14'1" × 12'11"
Main Floor
Living Room
11'4" × 11'2"
Main Floor
Bedroom - Primary
10'6" × 8'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
7'4" x 4'11"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Built-in Features, Closet Organizers, Open Floorplan, Quartz Counters
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s), Rooftop Patio, See Remarks
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C2
Listed Date:
Jun 06, 2024
Days on Mkt:
42
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Listed by eXp Realty
Data was last updated September 28, 2024 at 12:05 AM (UTC)
Diane Richardson
Cell: 403-397-3706