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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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215 315 Heritage Drive SE
Acadia Calgary T2V 5B4

$240,000
Residential beds: 2 baths: 2.0 853 sq. ft. built: 1968

Main Photo: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 1: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 2: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 3: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 4: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 5: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 6: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 7: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 8: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 9: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 10: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 11: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 12: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 13: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 14: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 15: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 16: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 17: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 18: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 19: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 20: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Photo 21: 215 315 Heritage Drive SE in Calgary: Acadia Apartment for sale : MLS®# A2137617
Status:
Sold
Sold Date:
Jun 25, 2024
Listed Price:
$240,000
Sold Price:
$240,000
Sold in:
21 days
Prop. Type:
Residential
MLS® Num:
A2137617
Bedrooms:
2
Bathrooms:
2
Year Built:
1968
Welcome to Acadia – a fantastic 2 Bedroom + 1.5 Bathroom condo that won’t disappoint! As you enter, you'll be greeted by the warm embrace of a galley-style kitchen, perfect for whipping up your favorite meals. Adjacent to the kitchen is a dining room, creating a cozy spot for enjoying your culinary creations. The spacious living room is the heart of the home, boasting patio doors that lead to a west-facing balcony. This delightful condo features two bedrooms, providing ample space for relaxation and personalization. With one full bath and a convenient 1/2 bath ensuite, your mornings and evenings are sure to be a breeze. Step onto the hardwood flooring that flow seamlessly throughout the entire space. The unit boasts two entrances for added convenience, ensuring you always have easy access in and out. There is plenty of storage space, helping you stay organized and clutter-free. No need to worry about parking, as a dedicated stall awaits you. Built for peace of mind, the roof and windows were upgraded approximately 5 years ago, ensuring durability and energy efficiency. Enjoy the perks of a prime location – within walking distance to shopping, restaurants, and public transportation. With quick & easy access to McLeod Trail and Deerfoot, your daily commute or weekend adventures will be a breeze. Make this condo your haven in Acadia – where comfort meets convenience, and every day feels like a retreat. Don't miss the chance to call this lovely place your home! Book your showing today & take advantage of this exceptional Buy !
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
15 Days / Neg
Suite:
No
Home Style:
Low-Rise(1-4)
Total Living Area:
853.22 sq. ft.
Taxes:
$920 / 2023
Tax Assessed Value:
140000.0
Condo Fee:
$509.00
Condo Fee Includes:
Amenities of HOA/Condo, Common Area Maintenance, Insurance, Maintenance Grounds, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash, Water
Front Exposure:
West
Reg. Size:
906 sq. ft.
Reg. Size Includes:
Below Grade Area, Interior Above Grade, Wall Thickness
Unit Exposure:
East, West
Floor Location:
Other
Entry Level:
2
Stories Total:
3
Levels:
Single Level Unit
End Unit:
1 Common Wall
Total Rooms Above Grade:
5
Year built:
1968 (Age: 56)
Bedrooms:
2
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:1, Half:1)
Plan:
7510034
Heating:
Baseboard, Hot Water
New Constr.:
No
Construction Material:
Concrete
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Hardwood, Tile
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Assigned, Stall
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
Common Area
Condo Fee Frequency:
Monthly
Heritage Green
Acadia
Coin Laundry, Visitor Parking
Dishwasher, Electric Stove, Refrigerator
n/a
None Known
Restrictions
Floor
Type
Size
Other
Main Floor
Living Room
19'5" × 12'
Main Floor
Kitchen
7'9" × 7'2"
Main Floor
Dining Room
7'7" × 7'5"
Main Floor
Storage
4'10" × 4'5"
Main Floor
Bedroom - Primary
16'1" × 10'3"
Main Floor
Bedroom
27' × 10'2"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
2
4'10" x 4'6"
Main Floor
No
4
4'10" x 7'4"
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Laminate Counters, No Animal Home, No Smoking Home, Separate Entrance, Storage, Vinyl Windows
Exterior Features:
Balcony, Courtyard
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone S
Zoning:
M-C1
Listed Date:
Jun 04, 2024
Days on Mkt:
21
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Listed by RE/MAX Real Estate (Mountain View)
Data was last updated June 27, 2024 at 08:05 AM (UTC)
Diane Richardson
Cell: 403-397-3706