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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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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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60 Morgan Street
Heartland Cochrane T4C 2R6

$669,900
Residential beds: 4 baths: 3.0 2,250 sq. ft. built: 2019

Main Photo: 60 Morgan Street: Cochrane Detached for sale : MLS®# A2168522
Photo 1: 60 Morgan Street: Cochrane Detached for sale : MLS®# A2168522
Photo 2: 60 Morgan Street: Cochrane Detached for sale : MLS®# A2168522
Photo 3: 60 Morgan Street: Cochrane Detached for sale : MLS®# A2168522
Photo 4: 60 Morgan Street: Cochrane Detached for sale : MLS®# A2168522
Photo 5: 60 Morgan Street: Cochrane Detached for sale : MLS®# A2168522
Photo 6: 60 Morgan Street: Cochrane Detached for sale : MLS®# A2168522
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Photo 47: 60 Morgan Street: Cochrane Detached for sale : MLS®# A2168522
Photo 48: 60 Morgan Street: Cochrane Detached for sale : MLS®# A2168522
Photo 49: 60 Morgan Street: Cochrane Detached for sale : MLS®# A2168522
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2168522
Bedrooms:
4
Bathrooms:
3
Year Built:
2019
Welcome to the perfect family home, four bedrooms plus bonus room up! 5 pc bathroom allows for the kids to have their own sink. Built and designed by Pacesetter Homes. Perfectly positioned in the Heart of Heartland, Backing green space and future K-8 school development site. School projected to be open 2030, to be constructed on Heartland Way leaving 8 acres of open space and views of the Cochrane Big Hill. Plenty of space for the kids to run & play, easily watch them play safely on the future playground from your own backyard. Step inside the home, greeted by a bright and fresh colour palette, and a well designed floor plan. The main level features a spacious and open kitchen with a large, quartz island, a cozy living area with gas fireplace, and a separate den/office space, perfect for those who work from home, or useful as an additional play area. Step out through the sliding glass doors onto the newly developed east-facing composite deck, which provides the perfect outdoor living space to soak up the sun. The fully fenced yard is perfect for kids and pets, with a rear gate providing easy access to the green space/school site. The upper level provides a spacious primary bedroom with a beautiful ensuite which hosts dual sinks, and a separate tub and shower, along with the ideal walk-in closet. Separated by the bonus/TV room you will find an additional 3 bedrooms and a 5 piece, dual sink bathroom perfect for growing families, making for peaceful mornings & evenings getting the kids ready. The lower level is undeveloped providing the opportunity to design and develop the perfect basement space. Take advantage of all that Heartland has to offer with close access to local restaurants, convenience store and gas station, along with quick access to the Mountains being just 45 Minutes to Kananaskis, and an easy commute to Calgary. Take advantage of this opportunity to start your next chapter in one of Cochrane's most desirable neighbourhoods.
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:
2,250 sq. ft.
Main Level Finished Area:
945.47 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
880.54 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
3,744 sq. ft.
Lot Frontage:
31'11⅞"
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:
Two
Total Rooms Above Grade:
10
Year built:
2019 (Age: 5)
Bedrooms:
4 (Above Grd: 4)
Bedrooms Above Grade:
4
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
1712311
Heating:
Forced Air
Basement:
Full, Unfinished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Tile, Vinyl Plank
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Laundry Room, Upper Level
Heartland
Dishwasher, Dryer, Range, Range Hood, Refrigerator, Washer, Window Coverings
N/A
Easement Registered On Title, Restrictive Covenant
Floor
Type
Size
Other
Main Floor
Dining Room
10'5" × 10'4"
Main Floor
Foyer
9'2" × 6'4"
Main Floor
Kitchen
14'3" × 13'5"
Main Floor
Living Room
14'11" × 12'6"
Main Floor
Office
9' × 8'10"
Main Floor
Pantry
9'1" × 5'7"
Upper Level
Bedroom
9'10" × 9'9"
Upper Level
Bedroom
10'1" × 9'6"
Upper Level
Bedroom
12'4" × 11'5"
Upper Level
Family Room
17'7" × 12'6"
Upper Level
Laundry
9'11" × 5'1"
Upper Level
Bedroom - Primary
15' × 12'6"
Upper Level
Walk-In Closet
9'11" × 5'8"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
7'4" x 3'2"
Upper Level
No
5
7'9" x 8'9"
Upper Level
Yes
5
11'7" x 9'10"
Title to Land:
Fee Simple
Community Features:
Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Breakfast Bar, Closet Organizers, Double Vanity, Granite Counters, High Ceilings, Kitchen Island, No Animal Home, No Smoking Home, Walk-In Closet(s)
Exterior Features:
Private Yard
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Backs on to Park/Green Space, Lawn, No Neighbours Behind, Street Lighting, Rectangular Lot, Views
Num. of Parcels:
0
Fencing:
Fenced
Region:
Rocky View County
Zoning:
R-LD
Listed Date:
Sep 25, 2024
Days on Mkt:
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    Living room
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    Kitchen with spacious island
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    Primary Bedroom
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    Ensuite
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    Dining Area
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    Walkthrough Pantry
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    Bonus Room/Office
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    Spacious Walk-in Closet
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Virtual Tour

Virtual Tour

Listed by The Real Estate District
Data was last updated November 13, 2024 at 06:05 AM (UTC)
Area Statistics
Listings on market:
188
Avg list price:
$661,950
Min list price:
$249,900
Max list price:
$1,375,000
Avg days on market:
33
Min days on market:
1
Max days on market:
398
Avg price per sq.ft.:
$370.99
These statistics are generated based on the current listing's property type and located in Cochrane. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706