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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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4004 3 Avenue SW
Wildwood Calgary T3C 0B2

$775,000
Residential beds: 4 baths: 2.0 936 sq. ft. built: 1959

Main Photo: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 1: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 2: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 3: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 4: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 5: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 6: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 7: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 8: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 9: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 10: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 11: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 12: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 13: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 14: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 15: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 16: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 17: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 18: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 19: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 20: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Photo 21: 4004 3 Avenue SW in Calgary: Wildwood Detached for sale : MLS®# A2143185
Status:
Sold
Sold Date:
Jun 27, 2024
Listed Price:
$799,900
Sold Price:
$775,000
Sold in:
7 days
Prop. Type:
Residential
MLS® Num:
A2143185
Bedrooms:
4
Bathrooms:
2
Year Built:
1959
Open House Saturday June 22, 2 - 4:30. Stunning home on a huge corner lot in the heart of Wildwood! Minutes to downtown and steps from Edworthy Park and the Douglas Fir Trails, this 936 square foot bungalow has all the updates you’ve been looking for. A renovated kitchen with granite counters and stainless appliances is a highlight, open to the large living room and dining room. Two spacious main floor bedrooms have great storage and share an updated 4-pc bathroom. The basement is fully developed with generous living space plus additional 2 bedrooms and full bathroom. The furnace, newer windows and roof shingles have been update over the last several years. The private backyard oasis is a special treat with a spacious wrap-around deck for entertaining and lounging. Single garage for a vehicle with additional room for storage. All this on a massive corner lot in one of Calgary's most desirable communities. Call Today!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
60 Days / Neg
Possession Date:
Sep 09, 2024
Suite:
No
Home Style:
Bungalow
Total Living Area:
936 sq. ft.
Main Level Finished Area:
936 sq. ft.
Below Grade Finished Area:
800 sq. ft.
Taxes:
$4,228 / 2024
Tax Assessed Value:
652000.0
Lot Area:
5,887 sq. ft.
Lot Frontage:
58'11"
Front Exposure:
South
Unit Exposure:
South
Levels:
One
Total Rooms Above Grade:
5
Year built:
1959 (Age: 65)
Bedrooms:
4
Bedrooms Above Grade:
2
Bedrooms Below Grade:
2
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
7986GW
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Cedar, Stucco, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
1
Parking:
Single Garage Detached
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Basement
Wildwood
Dishwasher, Dryer, Electric Stove, Garage Control(s), Microwave, Refrigerator, Washer, Window Coverings
N/A
None Known
Floor
Type
Size
Other
Main Floor
Living Room
14' × 12'
Main Floor
Kitchen
12' × 9'
Main Floor
Dining Room
10' × 6'
Main Floor
Bedroom - Primary
11' × 10'4"
Main Floor
Bedroom
12' × 9'
Basement
Game Room
21' × 13'
Basement
Bedroom
9' × 8'6"
Basement
Bedroom
11' × 8'6"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5' x 8'
Basement
No
3
6' x 8'
Title to Land:
Fee Simple
Community Features:
Golf, Park, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Bathroom Rough-in, No Smoking Home, Vinyl Windows
Exterior Features:
Private Yard
Patio And Porch Features:
Deck, Enclosed, Front Porch
Lot Features:
Back Lane, Back Yard, Corner Lot, Landscaped
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone W
Zoning:
R-C1
Listed Date:
Jun 20, 2024
Days on Mkt:
7
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Listed by CIR Realty
Data was last updated September 29, 2024 at 02:05 AM (UTC)
Diane Richardson
Cell: 403-397-3706