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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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When contacting me, please ensure to include the property address or MLS® number for the listing you are interested in. I look forward to hearing from you!

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7306 302 Skyview Ranch Drive NE
Skyview Ranch Calgary T3N 0P5

$305,000
Residential beds: 2 baths: 1.0 584 sq. ft. built: 2016

Main Photo: 7306 302 Skyview Ranch Drive NE in Calgary: Skyview Ranch Apartment for sale : MLS®# A2144436
Photo 1: 7306 302 Skyview Ranch Drive NE in Calgary: Skyview Ranch Apartment for sale : MLS®# A2144436
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Photo 26: 7306 302 Skyview Ranch Drive NE in Calgary: Skyview Ranch Apartment for sale : MLS®# A2144436
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2144436
Bedrooms:
2
Bathrooms:
1
Year Built:
2016
Welcome to 7306, 302 Skyview Ranch Drive! Your search ends here! This unit is in immaculate condition and located on the 3rd floor, not far from the elevator. There is a beautiful kitchen with upgraded Stainless Steel Appliances, sparkling Quartz Countertops, ample counter space and place for bar stools at the island! The bright and spacious living room offers plenty of space to arrange your furniture. There is a four piece bath, a large bedroom with walk in closet and another decent size bedroom. You have your own balcony and your own titled parking stall which is located just steps away from the exterior door, Plenty of visitor parkings just step away from the building. Call to set up your appointment to view this beautiful condo! SELLER WILL THROUGH A NEW COAT OF PAINT, REPLACE THE CARPET AND FIX THE DAMAGED DOOR.
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:
584 sq. ft.
Main Level Finished Area:
584 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$320.00
Condo Fee Includes:
Common Area Maintenance, Insurance, Interior Maintenance, Reserve Fund Contributions, Security, Sewer, Snow Removal, Trash, Water
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:
West
Reg. Size:
Reg. Size Includes:
Unit Exposure:
East
Floor Location:
Other
Entry Level:
1
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
2016 (Age: 8)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
1512719
Heating:
Baseboard
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Concrete, Vinyl Siding, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Cork, Tile
Cooling:
Central Air
Fireplaces:
0
Garage:
0
Parking:
Stall
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
HOA Fee:
$87.00
Condo Fee Frequency:
Monthly
Orchard Sky
Skyview Ranch
Elevator(s), Park, Parking, Service Elevator(s), Snow Removal, Trash, Visitor Parking
Dishwasher, Electric Range, Microwave Hood Fan, Refrigerator, Washer/Dryer Stacked, Window Coverings
None
Building Design Size, Building Restriction, Non-Smoking Building, Pet Restrictions or Board approval Required, Underground Utility Right of Way, Utility Right Of Way
Restrictions
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
10' × 9'10"
Main Floor
Dining Room
8' × 5'3"
Main Floor
Laundry
8'1" × 3'1"
Main Floor
Bedroom
9' × 8'7"
Main Floor
Living Room
11' × 10'11"
Main Floor
Kitchen
8'10" × 8'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 7'8"
Title to Land:
Fee Simple
Community Features:
Airport/Runway, Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Kitchen Island, No Animal Home, Vinyl Windows, Walk-In Closet(s)
Exterior Features:
Balcony, None
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone NE
Zoning:
M-1
Listed Date:
Jun 25, 2024
Days on Mkt:
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Listed by URBAN-REALTY.ca
Data was last updated November 10, 2024 at 10:05 AM (UTC)
Area Statistics
Listings on market:
118
Avg list price:
$354,900
Min list price:
$234,900
Max list price:
$890,000
Avg days on market:
37
Min days on market:
1
Max days on market:
159
Avg price per sq.ft.:
$391.91
These statistics are generated based on the current listing's property type and located in Skyview Ranch. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706