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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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4416 Centre A Street NE
Highland Park Calgary T2E 3B1

$950,000
Residential beds: 3 baths: 2.0 874 sq. ft. built: 1956

Main Photo: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 1: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 2: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 3: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 4: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 5: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 6: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 7: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 8: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 9: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 10: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 11: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 12: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 13: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 14: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Photo 15: 4416 Centre A Street NE in Calgary: Highland Park Detached for sale : MLS®# A2166292
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2166292
Bedrooms:
3
Bathrooms:
2
Year Built:
1956
Hello, Gorgeous! Your future development awaits with this lot in the highly desirable Highland Park community of Calgary. Zoned R-CG, and measuring 50’ x 130’, this rare opportunity is situated on Centre A Street Northeast, featuring a front-to-back slope which could be ideal for walk-out basements and backing onto a lane, adding tremendous value to your project. The area is highly sought after for its vibrant community atmosphere, excellent schools, parks, and easy access to downtown Calgary via Centre Street and Edmonton Trail. Key Features: - Combined lot size: 100’ x 130’ (if purchased with neighbouring lot 4412) - Zoned R-CG with potential for up to 9 units (combined with 4412) - Prime location in the growing Highland Park community - The R-CG zoning offers flexibility for row homes, detached, duplex which can include secondary units or backyard units with the potential to create 9 units combined over both lots - Close to Confederation Park, Nose Hill Park, and major bike paths - Access to top schools including Buchanan Elementary and James Fowler High School - Amazing access via public transit, and major roads making commuting a breeze Highland Park isn’t just another neighbourhood — it’s a community that sells itself. With direct access to downtown via Centre Street and Edmonton Trail, it offers proximity to parks, bike paths, Confederation Park, and Nose Hill Park. This area is on the rise, with schools like Buchanan Elementary and James Fowler High School making it an attractive option for families. Plus, the growing commercial and industrial footprint of the area adds even more long-term value. The R-CG zoning offers flexibility for townhomes or infill projects that are in high demand, with the potential to create 9 modern units. And in this location, they won’t last long on the market. Whether you’re an investor looking to expand your portfolio or a developer seeking your next project, this is a golden opportunity to build in a neighbourhood with excellent growth potential. Properties are being sold together so please review MLS #A2166242 when considering this property. Combined price $1,900,000 when purchased with 4412 Centre A Street NE
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
Bungalow
Total Living Area:
874 sq. ft.
Main Level Finished Area:
874 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
661.3 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
6,490 sq. ft.
Lot Frontage:
50'
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:
One
Total Rooms Above Grade:
5
Year built:
1956 (Age: 68)
Bedrooms:
3 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
1
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
5988GT
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Hardwood
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
1
Parking:
Off Street, Single Garage Detached
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Basement
Highland Park (Calgary)
Electric Stove, Refrigerator, Washer
Electric Stove, Refrigerator
None Known
Floor
Type
Size
Other
Main Floor
Dining Room
11'10" × 9'2"
Main Floor
Living Room
15'3" × 11'5"
Main Floor
Entrance
10'4" × 4'
Main Floor
Kitchen
11'6" × 10'
Main Floor
Bedroom - Primary
11'11" × 9'11"
Main Floor
Bedroom
11' × 9'4"
Basement
Game Room
19'7" × 12'10"
Basement
Bedroom
10'10" × 10'8"
Basement
Eat in Kitchen
13'3" × 11'
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5' x 7'7"
Basement
No
3
8' x 7'9"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
See Remarks
Exterior Features:
Garden
Patio And Porch Features:
None
Lot Features:
Back Lane, Back Yard, Front Yard, Gentle Sloping, Rectangular Lot, Sloped Down
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
R-C2
Listed Date:
Sep 16, 2024
Days on Mkt:
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Virtual Tour

Virtual Tour

Listed by Royal LePage Benchmark
Data was last updated September 20, 2024 at 08:05 PM (UTC)
Area Statistics
Listings on market:
26
Avg list price:
$799,950
Min list price:
$164,900
Max list price:
$1,800,000
Avg days on market:
30
Min days on market:
1
Max days on market:
153
Avg price per sq.ft.:
$553.25
These statistics are generated based on the current listing's property type and located in Highland Park. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706