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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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1313 Chinook Gate Green SW
Chinook Gate Airdrie T4B 5J1

$885,000
Residential beds: 5 baths: 4.0 2,275 sq. ft. built: 2023

Main Photo: 1313 Chinook Gate Green SW: Airdrie Detached for sale : MLS®# A2166980
Photo 1: 1313 Chinook Gate Green SW: Airdrie Detached for sale : MLS®# A2166980
Photo 2: 1313 Chinook Gate Green SW: Airdrie Detached for sale : MLS®# A2166980
Photo 3: 1313 Chinook Gate Green SW: Airdrie Detached for sale : MLS®# A2166980
Photo 4: 1313 Chinook Gate Green SW: Airdrie Detached for sale : MLS®# A2166980
Photo 5: 1313 Chinook Gate Green SW: Airdrie Detached for sale : MLS®# A2166980
Photo 6: 1313 Chinook Gate Green SW: Airdrie Detached for sale : MLS®# A2166980
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Photo 33: 1313 Chinook Gate Green SW: Airdrie Detached for sale : MLS®# A2166980
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2166980
Bedrooms:
5
Bathrooms:
4
Year Built:
2023
SHOW HOME FOR SALE! The stunning Dawson show home in Chinook Gate is for sale! This beautiful show home is loaded with upgrades and designer touches throughout and backs onto a green space. Featuring 5 bedrooms, 3.5 bathrooms and nearly 3,000 square feet of developed living space, this beautiful brand new home is perfect for a growing family of any size! The custom designed designer kitchen features natural wood cabinets accented by turquoise upper cabinets. The kitchen is complete with quartz countertops and a suite of stainless appliances including a built-in oven and gas cooktop. A butler's pantry and walkthrough pantry with built-in shelving leading to the mud room provide added convenience for everyday living. The kitchen overlooks the large dining area and sprawling living space. The large living area is complete with a central gas fireplace, custom window treatments and a wall of windows overlooking the backyard. The main level is complete with resilient vinyl plank flooring and a 2 pc powder room. Open iron spindle and maple railings lead to the second level where you'll find the bonus room at the front of the home, overlooking the front street. The primary suite is complete with a walk-in closet and 5 pc ensuite including a soaker tub, a walk-in shower and dual sinks. Two more generous-sized bedrooms, a full bathroom and laundry room complete the second level. The fully developed basement has a central rec room, two bedrooms and a full bathroom - perfect for a growing family or space for visiting guests. Located in the heart of Chinook Park, this beautiful brand new show home is loaded with upgrades including custom wall colours, wall treatments, designer lighting, elevated window treatments and so much more. This is your opportunity to buy a brand new show home and move-in before the end of the year! This new home includes builder warranty and Alberta New Home Warranty. 
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
2,275 sq. ft.
Main Level Finished Area:
951 sq. ft.
Upper Level Finished Area:
1,324 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
640 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
3,845 sq. ft.
Lot Frontage:
21'
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:
North
Reg. Size:
Reg. Size Includes:
Levels:
Two
Total Rooms Above Grade:
6
Year built:
2023 (Age: 1)
Bedrooms:
5 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
2
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
0
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
Yes
Construction Material:
Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Tile, Vinyl
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Upper Level
HOA Fee:
$100.00
Chinook Gate
None
Built-In Oven, Dishwasher, Dryer, Gas Cooktop, Microwave, Range Hood, Refrigerator, Washer
N/A
None Known
Floor
Type
Size
Other
Main Floor
Great Room
15' × 12'4"
Main Floor
Dining Room
12'8" × 10'5"
Upper Level
Bonus Room
13'5" × 12'
Upper Level
Bedroom - Primary
15' × 13'
Upper Level
Bedroom
11'4" × 10'
Upper Level
Bedroom
12'8" × 10'1"
Upper Level
Laundry
0 × 0
Basement
Game Room
15'11" × 13'2"
Basement
Bedroom
11'2" × 10'
Basement
Bedroom
10'5" × 10'
Floor
Ensuite
Pieces
Other
Main Floor
No
2
Upper Level
Yes
5
Upper Level
No
4
Basement
No
4
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan, Pantry, Quartz Counters, Recessed Lighting, Vinyl Windows
Exterior Features:
None, Private Entrance, Private Yard
Patio And Porch Features:
None
Lot Features:
Back Yard, Lawn, Interior Lot, Landscaped, Level, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Airdrie
Zoning:
R1-U
Listed Date:
Sep 18, 2024
Days on Mkt:
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    Exterior elevation.
Listed by Charles
Data was last updated September 21, 2024 at 06:05 AM (UTC)
Area Statistics
Listings on market:
358
Avg list price:
$599,999
Min list price:
$244,000
Max list price:
$3,299,000
Avg days on market:
23
Min days on market:
1
Max days on market:
334
Avg price per sq.ft.:
$364.67
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