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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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NEXT Open House details
Nov 16, 2024 02:00 PM - 04:00 PM MST

9628 Alcott Road SE
Acadia Calgary T2J 0T8

$624,900
Residential beds: 2 baths: 2.0 1,041 sq. ft. built: 1962

Main Photo: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 1: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 2: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 3: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 4: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 5: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 6: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 7: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 8: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 9: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 10: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 11: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 12: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 13: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 14: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 15: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
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Photo 17: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
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Photo 20: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 21: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 22: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 23: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 24: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 25: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
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Photo 32: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 33: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Photo 34: 9628 Alcott Road SE in Calgary: Acadia Detached for sale : MLS®# A2177419
Open House - Nov 16, 2024
02:00 PM - 04:00 PM MST
NOTES: Open House on Saturday, November 16, 2024 2:00PM - 4:00PM
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2177419
Bedrooms:
2
Bathrooms:
2
Year Built:
1962
**** OPEN HOUSE SATURDAY NOVEMBER 16TH FROM 2 PM - 4 PM **** Charming Bungalow with Stunning Curb Appeal in Acadia! Welcome to this well-maintained bungalow, full of potential and situated on a quiet street in the highly sought-after community of Acadia. Original owners have cared for this no-smoking, no-pet home, making it a rare find in today’s market. Step inside to discover a bright and open main floor, ideal for family gatherings and entertaining. The cozy living room with gas fireplace flows nicely into the dining area and kitchen, offering a comfortable space to create memories. This level boasts 2 spacious bedrooms, with the option to convert the dining room into a third bedroom if needed, a 3 pce bathroom with large walk-in shower. The kitchen, with a charming view of the backyard, is the perfect spot to start your day. The lower level presents a world of possibilities! This spacious area includes a large laundry/mechanical room with plenty of storage, a 3-piece bathroom, and rec room and flex space that are ready for your modern touch. The rear entry door is conveniently located at the top of the basement stairs, and could easily be transformed into a separate entrance, offering versatility for future projects. Enjoy a beautifully landscaped backyard complete with a large deck spanning the width of your house—ideal for relaxing evenings and family gatherings. Don’t let the single garage fool you - This oversized single garage, spans over 500 sq ft, and offers ample room for parking and an amazing workshop. Great location close to many amenities including schools, parks, restaurants, shopping, along with easy access to Deerfoot and MacLeod Trail. This home is a wonderful opportunity for anyone seeking comfort, convenience, and the charm of a well-loved property in Acadia. Don’t miss out on making this bungalow your new home!
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:
1,040.59 sq. ft.
Main Level Finished Area:
11,200.82 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,016.94 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,500 sq. ft.
Lot Frontage:
54'11⅞"
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:
7
Year built:
1962 (Age: 62)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
577JK
Heating:
Fireplace(s), Forced Air, Natural Gas
Basement:
Full, Partially Finished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Concrete, Stucco
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Laminate
Cooling:
None
Fireplaces:
1
Fireplace Details:
Brick Facing, Gas Log, Living Room
Garage:
1
Garage Spaces:
1
Parking:
Single Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Lower Level
Acadia
Dishwasher, Electric Stove, Range Hood, Refrigerator, Washer/Dryer
N/A
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
10'9" × 8'9"
Main Floor
Dining Room
12'3" × 9'3"
Main Floor
Dining Room
12'4" × 8'7"
Main Floor
Foyer
12'3" × 3'11"
Main Floor
Kitchen
9'3" × 8'9"
Main Floor
Living Room
15'1" × 13'3"
Main Floor
Bedroom - Primary
11' × 10'11"
Basement
Game Room
38'1" × 23'10"
Basement
Furnace/Utility Room
28'3" × 12'
Floor
Ensuite
Pieces
Other
Main Floor
No
3
Basement
No
3
Title to Land:
Fee Simple
Community Features:
Playground, Schools Nearby, Shopping Nearby
Interior Features:
Built-in Features, Central Vacuum, Laminate Counters, No Animal Home, No Smoking Home
Exterior Features:
Private Yard, Storage
Patio And Porch Features:
Deck, Front Porch
Lot Features:
Landscaped
Num. of Parcels:
0
Outbuildings:
Shop
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone S
Zoning:
R-CG
Listed Date:
Nov 07, 2024
Days on Mkt:
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Virtual Tour

Virtual Tour

Listed by CIR Realty
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