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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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203 1720 10 Street SW
Lower Mount Royal Calgary T2T 3E8

$375,000
Residential beds: 2 baths: 2.0 771 sq. ft. built: 2015

Main Photo: 203 1720 10 Street SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2129640
Photo 1: 203 1720 10 Street SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2129640
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Photo 27: 203 1720 10 Street SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2129640
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2129640
Bedrooms:
2
Bathrooms:
2
Year Built:
2015
This Stunning 2 bedroom/2 bath condo in the highly sought after TEN building - located steps away from vibrant 17 Avenue in prestigious Lower Mount Royal. Bright & open floor plan! Top quality finishings with 9 foot flat finished ceilings, quartz counter tops, wide planked distressed hardwood flooring, custom window coverings and a stunning kitchen with soft close drawers, huge island, built-in pantry area & stainless steel appliances. 2 full baths and in suite laundry. Master bedroom features a 5 pc ensuite with dual sinks and quartz counter tops while the second bedroom features a 3 pc cheater ensuite with tiled shower. The living room is spacious and extends out to a covered balcony. This unit also includes one titled underground parking stall, assigned storage locker plus bike lockers & in floor heating throughout! Live the 17Ave lifestyle in a designer inspired condo located in the premier community of Lower Mount Royal. Exceptional value in the area!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Apartment
Total Living Area:
771 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$590.14
Condo Fee Includes:
Common Area Maintenance, Gas, Heat, Insurance, Maintenance Grounds, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash, Water
HOA Fee Includes:
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:
Unit Exposure:
East, North
Floor Location:
Other
Entry Level:
2
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
4
Year built:
2015 (Age: 9)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
1513268
Heating:
In Floor
New Constr.:
No
Construction Material:
Brick, Stucco, Wood Siding
Structure Type:
Low Rise (2-4 stories)
Roof:
Rubber
Ensuite:
Yes
Flooring:
Ceramic Tile, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Parkade
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Z-name Not Listed
Lower Mount Royal
Bicycle Storage, Elevator(s), Visitor Parking
Dishwasher, Dryer, Garage Control(s), Microwave Hood Fan, Refrigerator, Stove(s), Washer, Window Coverings
N/A
Pet Restrictions or Board approval Required
Restrictions
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
11' × 9'7"
Main Floor
Bedroom
10' × 9'3"
Main Floor
Living Room
14' × 11'6"
Main Floor
Kitchen With Eating Area
14' × 13'8"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
5
Main Floor
Yes
3
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks
Interior Features:
Pantry, Quartz Counters
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C2
Listed Date:
May 08, 2024
Days on Mkt:
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Listed by RE/MAX First
Data was last updated June 29, 2024 at 06:05 PM (UTC)
Area Statistics
Listings on market:
23
Avg list price:
$339,900
Min list price:
$199,900
Max list price:
$3,133,000
Avg days on market:
22
Min days on market:
3
Max days on market:
72
Avg price per sq.ft.:
$457.02
These statistics are generated based on the current listing's property type and located in Lower Mount Royal. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706