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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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442 27 Avenue NW
Mount Pleasant Calgary T2M 2H6

$879,900
Residential beds: 3 baths: 2.0 1,280 sq. ft. built: 1976

Main Photo: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 1: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 2: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 3: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 4: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 5: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 6: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 7: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 8: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 9: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
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Photo 12: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
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Photo 14: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
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Photo 16: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 17: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
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Photo 21: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 22: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 23: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 24: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 25: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 26: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
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Photo 28: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 29: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 30: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 31: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Photo 32: 442 27 Avenue NW in Calgary: Mount Pleasant Detached for sale : MLS®# A2158259
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2158259
Bedrooms:
3
Bathrooms:
2
Year Built:
1976
Presenting an exceptional investment opportunity in the highly sought-after neighborhood of Mount Pleasant, this property boasts a generous 50x120ft lot, offering ample space and potential for further development. With a parking pad at the back capable of accommodating two cars, convenience and functionality are at the forefront of this property’s design. Inside, the heart of the home is the well-appointed kitchen, designed for both style and functionality. The kitchen features a central island, perfect for meal prep or casual dining, and is equipped with stainless steel appliances that cater to all your culinary needs. Adjacent to the kitchen, the cozy eating nook is open to the family room, creating a seamless flow for both daily living and entertaining. The family room is anchored by a charming wood-burning fireplace with a classic brick surround, providing a warm and inviting atmosphere for gatherings or quiet evenings at home. The back deck offers the perfect setting for outdoor relaxation, entertaining, or simply enjoying the tranquil surroundings. The living room also features a wood-burning fireplace with a brick surround and a mantle, adding character and warmth to the space. The main floor is home to three comfortable bedrooms, including the spacious primary suite. The primary bedroom offers the convenience of a walk-in closet and a private 3-piece ensuite, creating a serene retreat within the home. Additionally, the main floor includes a practical laundry area and 4pc bathroom. One of the standout features of this property is the fully developed basement accessible from its own separate entrance that hosts two illegal suites/separate living quarters. Great opportunity to invest in a vibrant and growing community! Located in Mount Pleasant, you'll be close to a variety of amenities, including parks, schools, shopping, and dining options. The area is known for its strong sense of community and charming character, making it a great place to live or invest. Whether you're looking to make a smart investment or enjoy the benefits of living in a prime location, this property offers it all. Don't miss out on this incredible opportunity to capitalize on the many possibilities it presents.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
Bungalow
Total Living Area:
1,280 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,995 sq. ft.
Lot Frontage:
50'
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:
Levels:
One
Total Rooms Above Grade:
6
Year built:
1976 (Age: 48)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
2617AG
Heating:
Forced Air
Basement:
Separate/Exterior Entry, Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Stucco, Wood Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Laminate, Tile
Cooling:
None
Fireplaces:
2
Fireplace Details:
Wood Burning
Garage:
0
Parking:
Off Street, Parking Pad
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Laundry Room
Mount Pleasant (Calgary)
None
All appliances as-is
None Known
Floor
Type
Size
Other
Main Floor
Living Room
14'10" × 13'6"
Main Floor
Kitchen
10'5" × 9'6"
Main Floor
Family Room
16'10" × 13'7"
Main Floor
Bedroom - Primary
12'11" × 11'6"
Main Floor
Bedroom
9'8" × 8'8"
Main Floor
Bedroom
9'8" × 7'10"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
Main Floor
Yes
3
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Kitchen Island, Open Floorplan, Separate Entrance
Exterior Features:
None
Patio And Porch Features:
Deck
Lot Features:
Back Yard, City Lot, Lawn, Rectangular Lot
Num. of Parcels:
0
Fencing:
Partial
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
R-C2
Listed Date:
Aug 16, 2024
Days on Mkt:
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Listed by RE/MAX First
Data was last updated November 11, 2024 at 06:05 PM (UTC)
Area Statistics
Listings on market:
34
Avg list price:
$937,450
Min list price:
$229,900
Max list price:
$2,790,000
Avg days on market:
39
Min days on market:
1
Max days on market:
304
Avg price per sq.ft.:
$567.99
These statistics are generated based on the current listing's property type and located in Mount Pleasant. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706