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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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6016 Memorial Drive NE
Marlborough Park Calgary T2A 3W1

$549,000
Residential beds: 5 baths: 3.0 1,161 sq. ft. built: 1975

Main Photo: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 1: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 2: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 3: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 4: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 5: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 6: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 7: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 8: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 9: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 10: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 11: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 12: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 13: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 14: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 15: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 16: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 17: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 18: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
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Photo 20: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 21: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 22: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 23: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 24: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 25: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 26: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
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Photo 30: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 31: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 32: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 33: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 34: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Photo 35: 6016 Memorial Drive NE in Calgary: Marlborough Park Detached for sale : MLS®# A2172487
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2172487
Bedrooms:
5
Bathrooms:
3
Year Built:
1975
Calling Investor/Renovator. Great house but need some work. Welcome to 6016 Memorial Drive NE, a detached home in Marlborough Park community. This house boasts 5 bedroom and 2+1 bathrooms, with the master bedroom and ensuite bathroom on the main floor. All the bedrooms are of good sized and have closets. Kitchen is connecting with the dining area, with ample cabinetry and spacious enough for meal preparing. The living room can fit a family size sofa and TVs, suitable for cozy nights with your family or guests gathering. Living room has a big windows viewing to the green space bringing lots of natural light when entering the house. The basement adds another 2 bedrooms, rec room, laundry and more storage area for your family's convenience. Stepping outside is a private patio and a garden suitable for outdoor activities. This house comes with a double garage and a gazebo, another perfect spot for viewing sunset or enjoying morning coffee. This house is ready for the next owner, come and check it out.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bungalow
Total Living Area:
1,161.17 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,220 sq. ft.
Lot Frontage:
47'10¾"
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:
3
Year built:
1975 (Age: 49)
Bedrooms:
5 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
2
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
7410533
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stucco, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Tile, Vinyl
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
Marlborough Park
Dishwasher, Range Hood, Refrigerator, Washer/Dryer
None
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
10'4" × 9'1"
Main Floor
Bedroom
10'5" × 8'4"
Main Floor
Bedroom - Primary
13'5" × 11'1"
Basement
Bedroom
13'1" × 9'11"
Basement
Bedroom
13'10" × 9'9"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
2
5'2" x 4'8"
Main Floor
No
4
5' x 8'4"
Basement
No
3
6'4" x 7'10"
Title to Land:
Fee Simple
Community Features:
Park, Schools Nearby
Interior Features:
Ceiling Fan(s)
Exterior Features:
Balcony, Garden, Private Yard
Patio And Porch Features:
Deck
Lot Features:
Fruit Trees/Shrub(s), Low Maintenance Landscape
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone NE
Zoning:
R-CG
Listed Date:
Oct 10, 2024
Days on Mkt:
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Listed by CIR Realty
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
16
Avg list price:
$429,900
Min list price:
$310,000
Max list price:
$669,900
Avg days on market:
34
Min days on market:
5
Max days on market:
102
Avg price per sq.ft.:
$401.09
These statistics are generated based on the current listing's property type and located in Marlborough Park. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706