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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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405 15320 Bannister Road SE
Midnapore Calgary T2X 1Z6

$339,900
Residential beds: 2 baths: 2.0 984 sq. ft. built: 2002

Spacious living room, open floor plan, access to balcony
Photo 1: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 2: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 3: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 4: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 5: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 6: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 7: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 8: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 9: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 10: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 11: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 12: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 13: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 14: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 15: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 16: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 17: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 18: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 19: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 20: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 21: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 22: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 23: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 24: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Photo 25: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2176612
Bedrooms:
2
Bathrooms:
2
Year Built:
2002
Discover one of the most sought-after condo locations in the vibrant LAKE COMMUNITY of Lake Midnapore! This immaculate 2-bedroom, 2-bathroom TOP FLOOR unit has been beautifully UPDATED, featuring GRANITE countertops in both bathrooms, FRESH PAINT, NEWER CARPET, MODERN LIGHT FIXTURES, and more! The OPEN CONCEPT layout includes a well-appointed kitchen with GRANITE countertops, UPGRADED WOOD CABINETRY, STAINLESS-STEEL APPLIANCES, and a BREAKFAST BAR that seats four. The spacious living room includes a cozy corner GAS FIREPLACE and opens to a private, generously sized balcony with gas line for a BBQ. Adjacent to the kitchen, the dining area accommodates a table for four and boasts a BUILT-IN BEVERAGE FRIDGE, ideal for entertaining. The thoughtfully designed layout separates the bedrooms for privacy - perfect for roommates or guests. The master bedroom comfortably fits a king-sized bed and features a WALK-THROUGH CLOSET leading to a full ENSUITE bathroom. The second bedroom includes a WALK-IN CLOSET and is conveniently located with direct access to the second bathroom, also updated with a GRANITE countertop. For added convenience, the laundry room includes extra shelving and a stacking washer/dryer. This quiet, east-facing unit is bathed in morning light. The UNDERGROUND PARKING STALL includes a STORAGE CAGE and is conveniently located near the elevator, making it ideal for those with mobility needs. LOW CONDO FEES INCLUDE ALL UTILITIES! Enjoy YEAR-ROUND LAKE PRIVILEGES with swimming in the summer, and skating and tobogganing in the winter! The location is a short walk to Fish Creek Park, LRT, shopping, and other amenities. Ample VISITOR PARKING at the back and street parking are available, and the PET-FRIENDLY BUILDING (with board approval) even offers a rentable guest suite. Don’t miss the opportunity to make this remarkable condo your own.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Low-Rise(1-4)
Total Living Area:
984.33 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$574.37
Condo Fee Includes:
Amenities of HOA/Condo, Common Area Maintenance, Electricity, Gas, Heat, Insurance, Parking, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash, Water
HOA Fee Frequency:
Annually
HOA Fee Includes:
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:
Unit Exposure:
Northeast
Floor Location:
Top
Entry Level:
4
Stories Total:
4
Levels:
Single Level Unit
End Unit:
1 Common Wall, No One Above
Total Rooms Above Grade:
5
Year built:
2002 (Age: 22)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0213840
Heating:
Baseboard, Fireplace(s)
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Stucco, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Carpet, Linoleum
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas
Garage:
0
Parking:
Additional Parking, Assigned, On Street, Parkade, Secured, Stall, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit, Laundry Room
HOA Fee:
$267.75
Condo Fee Frequency:
Monthly
Midnapore Manor
Midnapore
Beach Access, Boating, Clubhouse, Community Gardens, Dog Park, Elevator(s), Guest Suite, Laundry, Park, Picnic Area, Playground, Racquet Courts, Secured Parking, Snow Removal, Storage, Trash, Visitor Parking
Dishwasher, Electric Stove, Microwave, Range Hood, Refrigerator, Washer/Dryer Stacked, Window Coverings
None
Pet Restrictions or Board approval Required, Pets Allowed
Yes
Floor
Type
Size
Other
Main Floor
Kitchen
10'2" × 8'6"
Main Floor
Dining Room
10'2" × 8'8"
Main Floor
Living Room
12'5" × 12'1"
Main Floor
Laundry
7'7" × 5'5"
Main Floor
Balcony
11'8" × 6'4"
Main Floor
Bedroom - Primary
16'9" × 11'2"
Main Floor
Bedroom
12'11" × 10'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 10'1"
Main Floor
Yes
4
4'11" x 6'11"
Title to Land:
Fee Simple
Community Features:
Clubhouse, Fishing, Lake, Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Built-in Features, Closet Organizers, Elevator, Granite Counters, No Smoking Home, Open Floorplan, Pantry, Storage, Vinyl Windows, Walk-In Closet(s)
Exterior Features:
Balcony, Playground, Storage
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone S
Zoning:
M-C2
Listed Date:
Nov 01, 2024
Days on Mkt:
  • Photo 1: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Spacious living room, open floor plan, access to balcony
  • Photo 2: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Attractive building!
  • Photo 3: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Above ground visitor parking
  • Photo 4: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Photo 4 of 25
  • Photo 5: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Photo 5 of 25
  • Photo 6: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Photo 6 of 25
  • Photo 7: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Dining area plus breakfast bar seating
  • Photo 8: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Photo 8 of 25
  • Photo 9: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Granite counter, s/s appliances
  • Photo 10: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Adequate cabinet space!
  • Photo 11: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Top floor condo, nice views
  • Photo 12: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Master bedroom
  • Photo 13: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Photo 13 of 25
  • Photo 14: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Walk-through closet to full ensuite
  • Photo 15: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Ensuite
  • Photo 16: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    2nd spacious bedroom
  • Photo 17: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Walk-in closet
  • Photo 18: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Secondary bathroom
  • Photo 19: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Entry foyer
  • Photo 20: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Laundry room
  • Photo 21: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Parking stall with storage
  • Photo 22: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Photo 22 of 25
  • Photo 23: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Photo 23 of 25
  • Photo 24: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Photo 24 of 25
  • Photo 25: 405 15320 Bannister Road SE in Calgary: Midnapore Apartment for sale : MLS®# A2176612
    Photo 25 of 25
Listed by RE/MAX Landan Real Estate
Data was last updated November 13, 2024 at 12:05 PM (UTC)
Area Statistics
Listings on market:
12
Avg list price:
$531,250
Min list price:
$243,800
Max list price:
$799,900
Avg days on market:
17
Min days on market:
5
Max days on market:
104
Avg price per sq.ft.:
$471.63
These statistics are generated based on the current listing's property type and located in Midnapore. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706