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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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401 535 10 Avenue SW
Beltline Calgary T2R 0A8

$739,900
Residential beds: 1 baths: 2.0 1,608 sq. ft. built: 1909

Main Photo: 401 535 10 Avenue SW in Calgary: Beltline Apartment for sale : MLS®# A2127876
Photo 1: 401 535 10 Avenue SW in Calgary: Beltline Apartment for sale : MLS®# A2127876
Photo 2: 401 535 10 Avenue SW in Calgary: Beltline Apartment for sale : MLS®# A2127876
Photo 3: 401 535 10 Avenue SW in Calgary: Beltline Apartment for sale : MLS®# A2127876
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Photo 22: 401 535 10 Avenue SW in Calgary: Beltline Apartment for sale : MLS®# A2127876
Photo 23: 401 535 10 Avenue SW in Calgary: Beltline Apartment for sale : MLS®# A2127876
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2127876
Bedrooms:
1
Bathrooms:
2
Year Built:
1909
Amazing rare opportunity for either loft style living at its finest or a tremendous work space for a low traffic business. Either way you will be inspired by this historic brick loft designed space in the Hudson. Located on 10th Ave and 5th St SW, whether for business or personal use, a great location - convenient to downtown. There are 2 parking stalls. One titled underground stall and one assigned surface stall that stays with the unit. There is an additional separate storage locker as well. The unit is a large 1 bedroom with a full ensuite and the rest of the space is wide open with an additional half bathroom. Currently configured for a work space with temporary walls to create work areas. The master bedroom is the conference room. If you want to be inspired by historic design, need an amazing location, want space, and looking for 2 parking spots... don't miss this rare opportunity!
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:
1,608 sq. ft.
Main Level Finished Area:
1,608 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$1,049.58
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Parking, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Water
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:
North
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Northwest
Floor Location:
Other
Entry Level:
4
Stories Total:
5
Levels:
Single Level Unit
End Unit:
1 Common Wall
Total Rooms Above Grade:
3
Year built:
1909 (Age: 115)
Bedrooms:
1 (Above Grd: 1)
Bedrooms Above Grade:
1
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:1, Half:1)
Plan:
9411117
Heating:
Baseboard, Natural Gas
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick
Structure Type:
Low Rise (2-4 stories)
Roof:
Tar/Gravel
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas
Garage:
0
Parking:
Parkade, Stall, Titled, Underground
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
The Hudson
Beltline
Elevator(s), Secured Parking, Service Elevator(s), Storage
Dishwasher, Electric Stove, Microwave Hood Fan, Refrigerator, Window Coverings
N/A
Pet Restrictions or Board approval Required
Restrictions
Floor
Type
Size
Other
Main Floor
Kitchen
16' × 15'9"
Main Floor
Great Room
43'2" × 21'7"
Main Floor
Bedroom - Primary
16'7" × 11'2"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
Main Floor
Yes
4
Title to Land:
Fee Simple
Community Features:
Shopping Nearby
Interior Features:
High Ceilings, No Animal Home, No Smoking Home
Exterior Features:
None
Patio And Porch Features:
None
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
DC (pre 1P2007)
Listed Date:
May 01, 2024
Days on Mkt:
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Virtual Tour

Virtual Tour

Listed by RE/MAX Realty Professionals
Data was last updated November 16, 2024 at 12:05 AM (UTC)
Area Statistics
Listings on market:
233
Avg list price:
$385,000
Min list price:
$188,000
Max list price:
$2,900,000
Avg days on market:
45
Min days on market:
1
Max days on market:
247
Avg price per sq.ft.:
$499.82
These statistics are generated based on the current listing's property type and located in Beltline. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706