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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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136 Threepoint Cove
Wedderburn Okotoks T1S 5S4

$819,900
Residential beds: 3 baths: 3.0 2,076 sq. ft. built: 2024

Main Photo: 136 Threepoint Cove: Okotoks Detached for sale : MLS®# A2150191
Photo 1: 136 Threepoint Cove: Okotoks Detached for sale : MLS®# A2150191
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Photo 36: 136 Threepoint Cove: Okotoks Detached for sale : MLS®# A2150191
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2150191
Bedrooms:
3
Bathrooms:
3
Year Built:
2024
This beautiful, brand new Anthem built home in Okotok’s master planned community of Wedderburn checks off everything on your wish list. As you walk into the home, you are greeted by 9 ft ceilings throughout the bright, open concept layout of the main floor. You can cozy up in your spacious living room in the evenings next to the fireplace or spend your weekends hosting in your incredible expanded kitchen that conveniently opens up to the dining space. Upstairs, you will find a bonus room with an open to blow area, perfect for movie nights or a playroom for the kids, as well as 3 generous sized bedrooms. Relax in your primary retreat, where you have stunning views of wheat fields and roaming deer, along with ample storage and a relaxing atmosphere within the 5 piece ensuite. Outside, you are steps away from a beautiful walking trail right out your back door, parks and shopping plazas, providing access to convenient outdoor amenities, restaurants, shopping and more. This stunning Anthem home is a must see!
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:
2,076 sq. ft.
Main Level Finished Area:
987 sq. ft.
Upper Level Finished Area:
1,089 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
2,610 sq. ft.
Lot Frontage:
40'
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:
Two
Total Rooms Above Grade:
9
Year built:
2024 (Age: 0)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
181 2441
Heating:
Forced Air
Basement:
Full, Unfinished
Foundation:
Poured Concrete
Builder:
Anthem Properties
New Constr.:
Yes
Construction Material:
Stone, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Vinyl Plank
Cooling:
None
Fireplaces:
1
Fireplace Details:
Electric
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached, Front Drive, Garage Door Opener
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Upper Level
Wedderburn
Dishwasher, Dryer, Gas Stove, Microwave, Range Hood, Refrigerator, Washer
N/A
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
15' × 14'
Main Floor
Dining Room
12'6" × 10'
Main Floor
Great Room
15'3" × 12'6"
Main Floor
Foyer
9'9" × 4'2"
Main Floor
Mud Room
6' × 5'7"
Main Floor
Office
9'5" × 9'4"
Upper Level
Bonus Room
12'7" × 12'5"
Upper Level
Laundry
6'2" × 5'2"
Upper Level
Bedroom - Primary
14'1" × 12'1"
Upper Level
Bedroom
11'4" × 9'3"
Upper Level
Bedroom
10'10" × 9'3"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
5' x 5'
Upper Level
No
4
7'2" x 8'9"
Upper Level
Yes
5
8'9" x 11'8"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Built-in Features, Quartz Counters, Separate Entrance, Soaking Tub, Walk-In Closet(s)
Exterior Features:
Other
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Backs on to Park/Green Space, Cul-De-Sac, Front Yard, Street Lighting
Num. of Parcels:
0
Fencing:
Partial
Region:
Foothills County
Zoning:
TN
Listed Date:
Jul 17, 2024
Days on Mkt:
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Listed by Ally Realty
Data was last updated September 20, 2024 at 06:05 AM (UTC)
Area Statistics
Listings on market:
106
Avg list price:
$656,700
Min list price:
$265,000
Max list price:
$3,995,000
Avg days on market:
20
Min days on market:
1
Max days on market:
199
Avg price per sq.ft.:
$413.97
These statistics are generated based on the current listing's property type and located in Okotoks. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706