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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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421 40 Street NE
Marlborough Calgary T2A 6S1

$349,000
Residential beds: 3 baths: 1.0 1,104 sq. ft. built: 1975

Main Photo: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 1: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 2: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 3: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 4: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 5: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 6: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 7: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 8: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 9: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 10: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
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Photo 12: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
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Photo 22: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 23: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 24: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 25: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 26: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 27: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 28: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 29: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 30: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 31: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Photo 32: 421 40 Street NE in Calgary: Marlborough Row/Townhouse for sale : MLS®# A2161536
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2161536
Bedrooms:
3
Bathrooms:
1
Year Built:
1975
Welcome to this beautifully updated 2-storey townhome PLUS unspoiled full basement!! in Marlborough Gardens. With its fantastic location just a short stroll from Marlborough Mall, you'll enjoy convenient access to shopping and amenities while benefiting from a quiet residential setting. Upon entering the home, you'll be greeted by a spacious and bright family room bathed in natural light. The kitchen has been thoughtfully updated with newer appliances, including a stove (2023), fridge (2023), microwave hood fan (2024), under-cabinet lighting over the sink (2024), and dishwasher (2024), ensuring a stylish and functional space for cooking and entertaining. Upstairs, the well-appointed master bedroom, complemented by two additional bedrooms and a generously sized 5-piece hall bathroom featuring a double vanity, perfect for family living. The FULL unfinished basement presents a versatile large rec space, laundry area, and storage room, with recent updates including freshly painted walls and floor. Step outside to a massive deck off the back entrance, ideal for outdoor gatherings and relaxation. Additionally, the property includes two parking stalls conveniently located behind the unit. Recent updates within the past year further enhance this home, including new doorknobs and locks on exterior doors, new storm doors on the front and back, new blinds on the upper level, rewiring of basement electrical, new vinyl windows on the main and upper floors, upgraded attic insulation to R65, and a new electrical breaker for the microwave hood fan. The front garden has also been professionally landscaped, adding to the home's curb appeal. This townhome combines modern upgrades with a prime location, offering comfort and convenience in Marlborough Gardens. Don’t miss the opportunity to make this your new home!
Property Type:
Residential
Property Sub Type:
Row/Townhouse
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
1,103.98 sq. ft.
Main Level Finished Area:
524.51 sq. ft.
Upper Level Finished Area:
579.47 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
480 sq. ft.
Taxes:
Tax Assessed Value:
Condo Fee:
$415.97
Condo Fee Includes:
Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Snow Removal
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:
East
Reg. Size:
Reg. Size Includes:
Entry Level:
1
Levels:
Two
End Unit:
2+ Common Walls, No One Above, No One Below
Total Rooms Above Grade:
5
Year built:
1975 (Age: 49)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
7611273
Heating:
Forced Air
Basement:
Full, Unfinished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
Five Plus
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Ceramic Tile, Laminate
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Stall
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement
Condo Fee Frequency:
Monthly
Z-name Not Listed
Marlborough
Parking, Snow Removal
Dishwasher, Dryer, Electric Stove, Microwave Hood Fan, Refrigerator, Washer, Window Coverings
N/A
Airspace Restriction, Restrictive Covenant, Utility Right Of Way
Restrictions
Floor
Type
Size
Other
Main Floor
Kitchen With Eating Area
11'11" × 11'8"
Main Floor
Living Room
14'7" × 14'6"
Upper Level
Bedroom - Primary
13'7" × 9'7"
Upper Level
Bedroom
12'11" × 9'7"
Upper Level
Bedroom
10'1" × 7'11"
Basement
Laundry
12'8" × 10'8"
Basement
Storage
11'5" × 6'9"
Basement
Game Room
17'11" × 14'2"
Floor
Ensuite
Pieces
Other
Upper Level
No
5
0' x 0'
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby, Sidewalks
Interior Features:
Laminate Counters, No Animal Home, No Smoking Home
Exterior Features:
None
Patio And Porch Features:
Deck
Lot Features:
Interior Lot, Rectangular Lot
Num. of Parcels:
0
Fencing:
None
Region:
Calgary
Zone:
CAL Zone NE
Zoning:
M-C1
Listed Date:
Sep 01, 2024
Days on Mkt:
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Listed by Coldwell Banker Mountain Central
Data was last updated September 20, 2024 at 12:05 PM (UTC)
Area Statistics
Listings on market:
17
Avg list price:
$559,900
Min list price:
$299,900
Max list price:
$679,000
Avg days on market:
17
Min days on market:
1
Max days on market:
66
Avg price per sq.ft.:
$529.58
These statistics are generated based on the current listing's property type and located in Marlborough. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706