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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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NEXT Open House details
Nov 10, 2024 01:00 PM - 03:00 PM MST

81 Castlebrook Way NE
Castleridge Calgary T3J 2A7

$449,000
Residential beds: 3 baths: 2.0 1,204 sq. ft. built: 1983

Main Photo: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 1: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 2: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 3: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 4: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 5: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 6: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 7: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 8: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 9: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 10: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 11: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 12: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 13: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 14: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 15: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 16: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 17: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 18: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 19: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 20: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 21: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 22: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 23: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 24: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 25: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 26: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 27: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 28: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 29: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 30: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 31: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 32: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 33: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Photo 34: 81 Castlebrook Way NE in Calgary: Castleridge Semi Detached (Half Duplex) for sale : MLS®# A2158699
Open House - Nov 10, 2024
01:00 PM - 03:00 PM MST
NOTES: Open House on Sunday, November 10, 2024 1:00PM - 3:00PM
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2158699
Bedrooms:
3
Bathrooms:
2
Year Built:
1983
Open House ,This Saturday 9 Nov 2024, 1-3pm & Sunday 10 Nov 2024,1-3pm, Location, location, location! This affordable 2-storey family home in Castleridge is an excellent opportunity for both families and investors. Located near transit, supermarkets, gyms, schools, and more, it offers great convenience. The home features 3 bedrooms and 1.5 bathrooms, with potential for additional rooms in the basement. It includes a fenced backyard, oversized single-car garage, well-maintained kitchen, and spacious living/dining areas with plenty of natural light. This well-located property is a must-see. Schedule a showing today with your favourite Realtor and take the first step toward your new home sweet home!
Property Type:
Residential
Property Sub Type:
Semi Detached (Half Duplex)
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey, Side by Side
Total Living Area:
1,203.5 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
2,508 sq. ft.
Lot Frontage:
24'8½"
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:
Northeast
Reg. Size:
Reg. Size Includes:
Entry Level:
1
Levels:
Two
End Unit:
1 Common Wall
Total Rooms Above Grade:
7
Year built:
1983 (Age: 41)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:1, Half:1)
Plan:
8111139
Heating:
Forced Air, Natural Gas
Basement:
Full, Partially Finished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
Duplex
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Linoleum
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
1
Parking:
Single Garage Detached
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Basement
Castleridge
Dishwasher, Dryer, Electric Stove, Garage Control(s), Microwave, Refrigerator, Washer
N/A
Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Entrance
4'11" × 4'3"
Main Floor
Living Room
11'7" × 10'1"
Main Floor
Dining Room
10'4" × 9'6"
Main Floor
Kitchen
11'5" × 10'11"
Main Floor
Mud Room
5'4" × 5'
2nd Floor
Bedroom
10'4" × 8'6"
2nd Floor
Bedroom
8'10" × 8'5"
2nd Floor
Bonus Room
6'6" × 5'5"
2nd Floor
Bedroom - Primary
14'10" × 9'9"
Basement
Laundry
10'10" × 6'1"
Basement
Furnace/Utility Room
5'11" × 4'6"
Basement
Family Room
20'6" × 9'3"
Basement
Flex Space
9'1" × 7'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
4'3" x 5'3"
2nd Floor
No
4
6'10" x 7'10"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Closet Organizers
Exterior Features:
Garden, Playground
Patio And Porch Features:
None
Lot Features:
Back Lane, Low Maintenance Landscape
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone NE
Zoning:
R-C2
Listed Date:
Aug 19, 2024
Days on Mkt:
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Listed by Diamond Realty & Associates LTD.
Data was last updated November 10, 2024 at 08:05 AM (UTC)
Area Statistics
Listings on market:
14
Avg list price:
$534,500
Min list price:
$449,000
Max list price:
$699,900
Avg days on market:
33
Min days on market:
3
Max days on market:
83
Avg price per sq.ft.:
$467.96
These statistics are generated based on the current listing's property type and located in Castleridge. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706