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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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  2. Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

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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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8704 6 Street SE
Acadia Calgary T2H 2A8

$584,000
Residential beds: 3 baths: 2.0 1,113 sq. ft. built: 1973

Main Photo: 8704 6 Street SE in Calgary: Acadia Detached for sale : MLS®# A2171079
Photo 1: 8704 6 Street SE in Calgary: Acadia Detached for sale : MLS®# A2171079
Photo 2: 8704 6 Street SE in Calgary: Acadia Detached for sale : MLS®# A2171079
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Photo 25: 8704 6 Street SE in Calgary: Acadia Detached for sale : MLS®# A2171079
Photo 26: 8704 6 Street SE in Calgary: Acadia Detached for sale : MLS®# A2171079
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2171079
Bedrooms:
3
Bathrooms:
2
Year Built:
1973
LOCATION NEXT TO PARK AND CUL-DE-SAC LOCATION!! SOLID BUNGALOW! THE KITCHEN WAS UPGRADED. THERE ARE 3 BEDROOMS UP AND A HALF BATH OFF THE MASTER. THE LOWER LEVEL HAS A DEN AND A LARGE RECREATION ROOM. SUPER AWESOME SETTING FACING THE PARK. EASY ACCESS TO HERITAGE DRIVE AND CLOSE TO ALL AMENITIES.
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:
1,112.94 sq. ft.
Main Level Finished Area:
1,112.94 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
922.64 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,102 sq. ft.
Lot Frontage:
49'10½"
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:
North
Reg. Size:
Reg. Size Includes:
Unit Exposure:
West
Floor Location:
Ground
Levels:
One
Total Rooms Above Grade:
6
Year built:
1973 (Age: 51)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:1, Half:1)
Plan:
1118LK
Heating:
Fireplace(s), Forced Air, Natural Gas
Basement:
Full, Partially Finished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Laminate, Linoleum, Tile
Cooling:
None
Fireplaces:
1
Fireplace Details:
Living Room, Raised Hearth, Stone, Wood Burning
Garage:
0
Parking:
Gravel Driveway, Off Street
Parking Places:
3.0
Parking Total/Covered:
3 / -
Laundry Features:
In Basement
Acadia
Dishwasher, Dryer, Electric Stove, Range Hood, Refrigerator, Washer
BBQ , SHED ,CEILING FAN
Airspace Restriction, Encroachment
Floor
Type
Size
Other
Main Floor
Kitchen
13'7" × 12'4"
Main Floor
Dining Room
10'3" × 9'2"
Main Floor
Living Room
15'5" × 13'3"
Main Floor
Bedroom - Primary
11'10" × 11'3"
Main Floor
Bedroom
13'4" × 8'11"
Main Floor
Bedroom
9'11" × 8'8"
Lower Level
Den
14'4" × 10'10"
Lower Level
Game Room
23'4" × 19'10"
Lower Level
Laundry
24'11" × 13'3"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
2
4'5" x 4'11"
Main Floor
No
4
4'11" x 8'8"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
No Animal Home, No Smoking Home, Open Floorplan
Exterior Features:
Barbecue, Playground
Patio And Porch Features:
Patio
Lot Features:
Backs on to Park/Green Space, City Lot, Cul-De-Sac, Landscaped, Level, Street Lighting, See Remarks
Num. of Parcels:
0
Fencing:
Partial
Region:
Calgary
Zone:
CAL Zone S
Zoning:
R-CG
Listed Date:
Oct 05, 2024
Days on Mkt:
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Listed by RE/MAX Real Estate (Central)
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
20
Avg list price:
$611,950
Min list price:
$209,900
Max list price:
$769,900
Avg days on market:
21
Min days on market:
5
Max days on market:
124
Avg price per sq.ft.:
$586.39
These statistics are generated based on the current listing's property type and located in Acadia. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706