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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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38 Emberdale Way SE
Edgewater Airdrie T4B 1Z3

$489,900
Residential beds: 4 baths: 2.0 1,017 sq. ft. built: 1981

Main Photo: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 1: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 2: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 3: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 4: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 5: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 6: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 7: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 8: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 9: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 10: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 11: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 12: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 13: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 14: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 15: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 16: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 17: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 18: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 19: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 20: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 21: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 22: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 23: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 24: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 25: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 26: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
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Photo 29: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 30: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 31: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 32: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 33: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 34: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 35: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Photo 36: 38 Emberdale Way SE: Airdrie Detached for sale : MLS®# A2143112
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2143112
Bedrooms:
4
Bathrooms:
2
Year Built:
1981
Introducing a perfect RENTAL/HOLDING/MULTI GENERATION property located in beautiful Airdrie! Here are 5 REASONS WHY YOU HAVE TO BUY THIS PROPERTY: 1) Two Bedroom Basement suite (illegal) was recently renovated and offers LARGE windows, large living room, good size kitchen, a full bathroom, 2 spacious bedrooms and its own separate laundry and it's own separate entrance door. 2) Upper Suite comes with a living room, large dining room area, a secluded kitchen, a full 4PC bathroom and 2 bedrooms. There is also separate laundry upstairs too, and it's own separate entrance. 3) Location, Location, Location - your future home is backing onto a quiet park with a playground (Elk Hill Playground), where kids can run around safely and you don't need to worry about them. Emberdale Way is a very quiet little street, steps away from Nose Creek Park and the Main Street with its amenities. Easy access to schools, shopping and the highway going to YYC. 4) Large fenced backyard with two sheds. 5) The whole house has just been FRESHLY PAINTED and is ready for your or your tenants to move in immediately! Please note: the hot water tank is only a couple of years old. Book your private viewing NOW as this property won't last long!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
Bi-Level
Total Living Area:
1,017 sq. ft.
Main Level Finished Area:
1,017 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
816.3 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
3,799 sq. ft.
Lot Frontage:
37'11⅞"
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:
Bi-Level
Total Rooms Above Grade:
5
Year built:
1981 (Age: 43)
Bedrooms:
4 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
2
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
8011464
Heating:
Forced Air, Natural Gas
Basement:
Full, Suite
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Laminate, Linoleum
Cooling:
None
Fireplaces:
1
Fireplace Details:
Basement, Gas, Other
Garage:
0
Parking:
Driveway, Off Street
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Main Level
Edgewater
Gas Dryer, Refrigerator, Stove(s), Washer
Basement: Refrigerator, Stove, Washer, Dryer
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
12'7" × 9'4"
Main Floor
Living Room
16'7" × 13'
Main Floor
Dining Room
9'3" × 7'11"
Main Floor
Bedroom
12'2" × 11'3"
Main Floor
Bedroom
13'1" × 9'5"
Lower Level
Kitchen
9'5" × 8'
Lower Level
Living Room
16'2" × 11'8"
Lower Level
Bedroom
12' × 9'3"
Lower Level
Bedroom
10' × 8'11"
Lower Level
Other
12'2" × 6'5"
Lower Level
Foyer
10'11" × 7'6"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
0' x 0'
Lower Level
No
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby
Interior Features:
See Remarks
Exterior Features:
Fire Pit
Patio And Porch Features:
Rear Porch
Lot Features:
Rectangular Lot
Num. of Parcels:
0
Fencing:
Partial
Region:
Airdrie
Zoning:
DC-16-A
Listed Date:
Jun 21, 2024
Days on Mkt:
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Listed by RE/MAX First
Data was last updated June 29, 2024 at 08:05 PM (UTC)
Area Statistics
Listings on market:
228
Avg list price:
$644,500
Min list price:
$185,000
Max list price:
$4,950,000
Avg days on market:
16
Min days on market:
1
Max days on market:
250
Avg price per sq.ft.:
$370.77
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