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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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135 25 Avenue NE
Tuxedo Park Calgary T2E 1X9

$799,999
Residential beds: 4 baths: 2.0 1,328 sq. ft. built: 1947

Main Photo: 135 25 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2153786
Photo 1: 135 25 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2153786
Photo 2: 135 25 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2153786
Photo 3: 135 25 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2153786
Photo 4: 135 25 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2153786
Photo 5: 135 25 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2153786
Photo 6: 135 25 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2153786
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Photo 8: 135 25 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2153786
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Photo 42: 135 25 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2153786
Photo 43: 135 25 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2153786
Photo 44: 135 25 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2153786
Photo 45: 135 25 Avenue NE in Calgary: Tuxedo Park Detached for sale : MLS®# A2153786
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2153786
Bedrooms:
4
Bathrooms:
2
Year Built:
1947
Developers,Builders , Huge 50x120 RC-2 LOT in the beautiful community of Tuxedo Park, soon can be converted with city approval as RCG after the city Blanket zoning change take affect. And situated on it a Huge 1300 Sq ft Bungalow in very good condition, which can be rented for long term , or hold it for Redevelopment, It has three huge Bedrooms and a big office , A 4 piece bath, Open living room and dining area, the Kitchen is Updated from its original design, and has newer hot water tank, furnace and shingles, the basement is fully developed with a family room, bedroom ,a 3 piece bath, a kitchenette and its own separate entrance,Very Close to DOWNTOWN, SHOPPING, SAIT, UNIVERSITY, HOSPITALS AND ALL MAJOR ROADS. A Perfect Property for Redevelopment.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
Bungalow
Total Living Area:
1,327.78 sq. ft.
Main Level Finished Area:
1,327.78 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
691.67 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,984 sq. ft.
Lot Frontage:
50'
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:
Levels:
One
Total Rooms Above Grade:
7
Year built:
1947 (Age: 77)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
2617AG
Heating:
Forced Air
Basement:
Separate/Exterior Entry, Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Ceramic Tile, Linoleum
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
1
Parking:
Single Garage Detached
Parking Places:
3.0
Parking Total/Covered:
3 / -
Laundry Features:
In Basement
Tuxedo Park
Dishwasher, Electric Stove, Range Hood, Refrigerator, Washer/Dryer
None
None Known
Floor
Type
Size
Other
Main Floor
Living Room
14'4" × 9'10"
Main Floor
Dining Room
14' × 11'4"
Main Floor
Kitchen
14'3" × 10'5"
Main Floor
Bedroom - Primary
15'7" × 11'7"
Main Floor
Bedroom
13'9" × 10'7"
Main Floor
Bedroom
13'9" × 10'1"
Main Floor
Office
13'2" × 11'7"
Lower Level
Game Room
17'9" × 16'9"
Lower Level
Bedroom
11'3" × 9'
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5' x 9'4"
Lower Level
No
3
8' x 5'2"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby
Interior Features:
Kitchen Island
Exterior Features:
Courtyard, Private Yard
Patio And Porch Features:
Rear Porch
Lot Features:
Back Lane, City Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
R-C2
Listed Date:
Aug 01, 2024
Days on Mkt:
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Virtual Tour

Listed by RE/MAX Real Estate (Central)
Data was last updated November 14, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
24
Avg list price:
$799,750
Min list price:
$319,000
Max list price:
$1,200,000
Avg days on market:
55
Min days on market:
1
Max days on market:
207
Avg price per sq.ft.:
$532.87
These statistics are generated based on the current listing's property type and located in Tuxedo Park. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706