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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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107 30 Mahogany Mews SE
Mahogany Calgary T3M 3H4

$340,000
Residential beds: 2 baths: 1.0 613 sq. ft. built: 2020

Main Photo: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 1: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 2: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 3: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 4: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 5: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 6: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 7: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 8: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 9: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 10: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 11: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 12: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 13: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 14: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 15: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 16: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 17: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 18: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Photo 19: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2122526
Bedrooms:
2
Bathrooms:
1
Year Built:
2020
Beautiful Main level unit in a well managed and maintained complex in the Lake community of Mahogany. This 2 bedroom unit includes a 3-piece bathroom, a cozy living room, lovely kitchen and a large and quiet covered balcony with access from the living room. This is a quiet and perfectly located location away from the noise and traffic of the streets. The unit comes with AC to cool down during those hot summer days. Enjoy gorgeous granite counter-tops in the kitchen and bathroom. The kitchen cabinets are to the ceiling. The primary bedroom features a bright window filling the space with warmth and sunlight. Storage and laundry room is located in the unit and includes a washer and dryer adding to your convenience. The unit is carpet free with beautiful neutral color laminate flooring for easy maintenance. Parking is a titled outdoor stall, #56. The complex includes an amazing gym, library areas, bike storage, outdoor meeting areas for the summer. The area has many amenities including shopping, dining, coffee shops, parks, pathways, and a beautiful lake! The complex has a great volunteer group for exciting events throughout the year and that feeling of inclusion. Priced to sell in this sought after lake community!
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:
613.45 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$351.56
Condo Fee Includes:
Common Area Maintenance, Insurance, Maintenance Grounds, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash
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:
South
Reg. Size:
Reg. Size Includes:
Unit Exposure:
South
Floor Location:
Ground
Entry Level:
1
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
2020 (Age: 4)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
2011123
Heating:
Baseboard, Electric
New Constr.:
No
Construction Material:
Stone, Stucco, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Laminate
Cooling:
Wall Unit(s)
Fireplaces:
0
Garage:
0
Parking:
220 Volt Wiring, Stall
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
HOA Fee:
$410.00
Condo Fee Frequency:
Monthly
Z-name Not Listed
Mahogany
Elevator(s), Fitness Center, Guest Suite, Parking, Picnic Area, Snow Removal, Visitor Parking
Electric Stove, Microwave, Refrigerator, Wall/Window Air Conditioner, Washer/Dryer, Window Coverings
N/A
None Known
Restrictions
Floor
Type
Size
Other
Main Floor
Bedroom
8'9" × 7'10"
Main Floor
Bedroom - Primary
10'11" × 10'3"
Main Floor
Dining Room
12' × 5'1"
Main Floor
Living Room
10'7" × 9'6"
Main Floor
Kitchen
9'5" × 8'4"
Main Floor
Laundry
7'5" × 5'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5'1" x 8'10"
Title to Land:
Fee Simple
Community Features:
Clubhouse, Lake, Shopping Nearby, Tennis Court(s)
Interior Features:
No Smoking Home
Exterior Features:
None
Patio And Porch Features:
Patio
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
M-H2
Listed Date:
Apr 30, 2024
Days on Mkt:
  • Photo 1: 107 30 Mahogany Mews SE in Calgary: Mahogany Apartment for sale : MLS®# A2122526
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Listed by MaxWell Canyon Creek
Data was last updated June 27, 2024 at 12:05 PM (UTC)
Area Statistics
Listings on market:
72
Avg list price:
$824,950
Min list price:
$324,800
Max list price:
$2,750,000
Avg days on market:
27
Min days on market:
2
Max days on market:
237
Avg price per sq.ft.:
$451.06
These statistics are generated based on the current listing's property type and located in Mahogany. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706