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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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70 Mallard Heath SE
C-390 Calgary T3S 0E4

$700,000
Residential beds: 4 baths: 4.0 1,651 sq. ft. built: 2022

Main Photo: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 1: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 2: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 3: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 4: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 5: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 6: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 7: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 8: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 9: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 10: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 11: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 12: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 13: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 14: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 15: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 16: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 17: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 18: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 19: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 20: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 21: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 22: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 23: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 24: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 25: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 26: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 27: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Photo 28: 70 Mallard Heath SE in Calgary: C-390 Detached for sale : MLS®# A2130409
Status:
Sold
Sold Date:
May 27, 2024
Listed Price:
$719,900
Sold Price:
$700,000
Sold in:
18 days
Prop. Type:
Residential
MLS® Num:
A2130409
Bedrooms:
4
Bathrooms:
4
Year Built:
2022
Welcome to your NEWER Home and AMAZING INVESTMENT OPPORTUNITY! Situated in the innovative and vibrant community of Rangeview, this beautifully designed open-concept home offers a modern and comfortable living experience with a host of high-quality features. Upon entering, you'll be greeted by high ceilings and luxury vinyl flooring throughout the main level. The bright kitchen boasts quartz countertops, stainless steel appliances, a large island, and ample dining space, making it the perfect hub for family meals and entertaining. The spacious living area flows seamlessly from the kitchen, providing an open and inviting atmosphere for relaxation. Additionally, a convenient 2pc bath completes the main floor. On the upper level, you'll find a great-sized bonus room, three bedrooms, and two 4pc bathrooms, along with a laundry room for added convenience. The primary bedroom includes a large walk-in closet for ample storage. This home also features a fully LEGAL basement suite, complete with a bedroom, 4pc bath, kitchen with stainless steel appliances, laundry room, and storage area. This separate living space presents an excellent opportunity for generating rental income or providing private accommodation for extended family. Outside, the lot awaits your personal touch for further development, and a detached double garage adds functionality and value to the property. Don't miss out on this fantastic opportunity! Book your showing today and experience the exceptional lifestyle offered by this remarkable home in Rangeview, located in southeast Calgary (south of Mahogany, east of Seton).
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
By Date Specified
Possession Date:
Jun 21, 2024
Suite:
Suite - Legal
Home Style:
2 Storey
Total Living Area:
1,651.46 sq. ft.
Main Level Finished Area:
800.48 sq. ft.
Upper Level Finished Area:
850.98 sq. ft.
Below Grade Finished Area:
737.55 sq. ft.
Taxes:
$1,537 / 2023
Tax Assessed Value:
234000.0
Lot Area:
2,820 sq. ft.
Lot Frontage:
25'
Front Exposure:
North
Levels:
Two
Total Rooms Above Grade:
7
Year built:
2022 (Age: 2)
Bedrooms:
4
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
2211505
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Composite Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement, Upper Level
Rangeview
See Remarks
Dishwasher X2, Dryer X2, Refrigerator X2, Stove X2, Washer X2
Easement Registered On Title, Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Kitchen
15'6" × 9'
Main Floor
Dining Room
13' × 10'6"
Main Floor
Living Room
14' × 13'6"
Upper Level
Bonus Room
15' × 10'
Upper Level
Laundry
6' × 3'
Upper Level
Bedroom - Primary
14' × 13'6"
Upper Level
Bedroom
10' × 9'
Upper Level
Bedroom
9'6" × 9'
Basement
Laundry
3' × 3'
Basement
Furnace/Utility Room
10' × 8'
Basement
Kitchen
14' × 9'
Basement
Living Room
14' × 12'
Basement
Bedroom
10' × 10'
Floor
Ensuite
Pieces
Other
Main Floor
No
2
5' x 5'6"
Upper Level
No
4
5' x 9'
Upper Level
Yes
4
5' x 8'6"
Basement
No
4
5' x 9'4"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Kitchen Island, Open Floorplan
Exterior Features:
None
Patio And Porch Features:
None
Lot Features:
Back Lane, Front Yard, Rectangular Lot
Num. of Parcels:
0
Fencing:
None
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
R-G
Listed Date:
May 09, 2024
Days on Mkt:
18
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Listed by eXp Realty
Data was last updated June 10, 2024 at 06:05 AM (UTC)
Diane Richardson
Cell: 403-397-3706