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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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4608 70 Street NW
Bowness Calgary T3B 2K6

$697,000
Residential beds: 4 baths: 3.0 944 sq. ft. built: 1951

Main Photo: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 1: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 2: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 3: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 4: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 5: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 6: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 7: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 8: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 9: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 10: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 11: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 12: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 13: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
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Photo 22: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 23: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 24: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 25: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
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Photo 32: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Photo 33: 4608 70 Street NW in Calgary: Bowness Detached for sale : MLS®# A2141276
Status:
Sold
Sold Date:
Jun 28, 2024
Listed Price:
$699,900
Sold Price:
$697,000
Sold in:
15 days
Prop. Type:
Residential
MLS® Num:
A2141276
Bedrooms:
4
Bathrooms:
3
Year Built:
1951
>> One of the most AFFORDABLE Legally Suited Homes in the Market << This exquisitely RENOVATED detached home with LEGAL suite is a fantastic opportunity for any buyer or those seeking a mortgage helper! Plus maximize your investment with future development potential, the lot is over 5,690 SQ FEET, large enough to build a second property and create a four-plex (subject to City approval). Perfect starter home for new buyers to live upstairs while having passive income from the legalized suite, ask us for the rental calculations. Over 1719 total sq feet in this home, it features a modern and clean design, open concept layout, a separate entrance to both floors, luxury LVP throughout and individual laundry facilities. This home offers a total of 4 bedrooms & 2.5 bathrooms (2 bedrooms & 1 bathroom in the walk-out basement). The spacious main level is finished with a trendy feature wall that adds a touch of style to the living area. Tons of upgrades including all new appliances, recently upgraded furnace, new facia, soffits and gutters, new fence & railings. Most of the home has been outfitted with new windows creating a bright and airy interior, this home is move in ready and sure to appeal to growing families or those looking for a mortgage supporter. Perfectly positioned in the heart of the historical & charming Bowness, steps from a local playground, a short commute to downtown & a quick drive to the mountains. The street is undergoing transformation with brand new construction homes a few doors down. The property sits on a massive lot, with tons of space for outdoor activities and includes an oversized double garage along with an additional parking pad which can easily accommodate multiple vehicles or an RV. Don’t miss out on this prime opportunity!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Negotiable
Suite:
Suite - Legal
Home Style:
Bungalow
Total Living Area:
944.16 sq. ft.
Main Level Finished Area:
944.16 sq. ft.
Below Grade Finished Area:
775.57 sq. ft.
Taxes:
$2,918 / 2024
Tax Assessed Value:
450000.0
Lot Area:
529 sq. ft.
Lot Frontage:
36'5¾"
Front Exposure:
Southwest
Levels:
One
Total Rooms Above Grade:
5
Year built:
1951 (Age: 73)
Bedrooms:
4
Bedrooms Above Grade:
2
Bedrooms Below Grade:
2
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
6511HN
Heating:
Forced Air
Basement:
Separate/Exterior Entry, Full, Suite, Walk-Out To Grade
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached
Parking Places:
3.0
Parking Total/Covered:
3 / -
Laundry Features:
Laundry Room, Lower Level, Main Level, Multiple Locations
Bowness
Dishwasher, Dryer, Microwave Hood Fan, Range Hood, Refrigerator, Stove(s), Washer
N/A
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
12'4" × 10'9"
Main Floor
Bedroom
12'1" × 7'6"
Main Floor
Dining Room
13'3" × 9'11"
Main Floor
Kitchen
12'2" × 11'11"
Main Floor
Living Room
13'6" × 12'2"
Basement
Bedroom
10'11" × 10'1"
Basement
Bedroom
10'11" × 9'9"
Basement
Kitchen
12'9" × 10'8"
Basement
Laundry
10'1" × 7'4"
Basement
Game Room
13'3" × 10'8"
Basement
Furnace/Utility Room
8'9" × 6'2"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
2
4'10" x 2'11"
Main Floor
No
4
7'8" x 4'11"
Basement
No
4
8'2" x 4'11"
Title to Land:
Fee Simple
Community Features:
Other, Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Breakfast Bar, Built-in Features, Chandelier, Closet Organizers, Kitchen Island, Open Floorplan, Pantry, Quartz Counters, See Remarks, Separate Entrance
Exterior Features:
Other
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Back Yard, Low Maintenance Landscape, Other, Private, Rectangular Lot, See Remarks
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone NW
Zoning:
R-C2
Listed Date:
Jun 13, 2024
Days on Mkt:
15
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Data was last updated September 28, 2024 at 10:05 PM (UTC)
Diane Richardson
Cell: 403-397-3706