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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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9835 5 Street SE
Acadia Calgary T2J 1K8

$629,900
Residential beds: 4 baths: 2.0 1,066 sq. ft. built: 1961

Main Photo: 9835 5 Street SE in Calgary: Acadia Detached for sale : MLS®# A2174217
Photo 1: 9835 5 Street SE in Calgary: Acadia Detached for sale : MLS®# A2174217
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Photo 34: 9835 5 Street SE in Calgary: Acadia Detached for sale : MLS®# A2174217
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2174217
Bedrooms:
4
Bathrooms:
2
Year Built:
1961
Welcome to this truly well-kept detached home in one of Calgary's most sought-after neighbourhoods, Acadia. This charming house is located on a large 50 x 100 ft. lot, offers 2,027 sq. ft. of fully developed living space, and provides the perfect blend of modern renovation and classic allure. Step inside and discover a bright and welcoming interior featuring recent renovations throughout. The main floor is designed for comfort and convenience with a charming living room. The kitchen offers updated cabinetry and newer appliances that are perfect for the cooking enthusiast. There are 3 generously sized bedrooms, and a fully renovated 4-piece bathroom. The re-finished blond hardwood, newer paint, and baseboards add character and warmth to the space. Downstairs, discover a thoughtfully renovated basement offering versatility and space with newer carpet throughout. The large recreation area allows for family movie nights, a play zone for young ones, or a quiet workspace for remote professionals. It is complete with another bedroom, a modern 4-piece bathroom, and is equipped with the practical amenities of a laundry room, and storage. Outside, the west-facing backyard is a private retreat, shaded by mature trees, and is complete with an expansive wooden deck that is perfect for outdoor entertaining or quiet afternoons. A newer pressure-treated fence, installed in 2020, adds to the backyard's privacy. The oversized double detached garage measures 21x23 feet which allows for ample storage and parking. Updates to this home also include newer windows and doors, R50 attic insulation (2020), and 50-gallon hot water tank (2019), allowing this home to be as functional as it is beautiful. The house also features easy access with a paved back alley. Acadia is a family-friendly community known for its ideal location for those seeking convenience and connectivity. You are minutes from multiple recreational facilities, green spaces, and pathways. The community offers a long list of amenities, provides public transit, and has easy access to major transportation routes. Acadia is served by many reputable schools, and the Community Association plays a central role in enhancing the quality of life for residents. Schedule your private showing today and experience the perfect blend of comfort, style, and functionality.
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:
1,066.18 sq. ft.
Main Level Finished Area:
1,066.18 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
960.62 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
4,994 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:
East
Reg. Size:
Reg. Size Includes:
Unit Exposure:
East
Floor Location:
Ground
Levels:
One
Total Rooms Above Grade:
6
Year built:
1961 (Age: 63)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
185JK
Heating:
Central, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Concrete, Unknown
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Hardwood
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
Acadia
Dishwasher, Dryer, Electric Range, Refrigerator, Washer
n/a
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
12'6" × 8'7"
Main Floor
Bedroom
10'10" × 8'7"
Main Floor
Dining Room
12'2" × 9'2"
Main Floor
Kitchen
9'4" × 8'7"
Main Floor
Living Room
15' × 13'7"
Main Floor
Bedroom - Primary
11'4" × 10'11"
Basement
Bedroom
11'8" × 11'4"
Basement
Laundry
12'4" × 6'1"
Basement
Game Room
37'11" × 12'1"
Basement
Furnace/Utility Room
12' × 10'11"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5' x 8'7"
Basement
No
4
5' x 7'7"
Title to Land:
Fee Simple
Community Features:
None, Playground, Schools Nearby
Interior Features:
Vinyl Windows
Exterior Features:
Private Yard
Patio And Porch Features:
Deck, Front Porch
Lot Features:
Back Lane
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone S
Zoning:
R-CG
Listed Date:
Oct 22, 2024
Days on Mkt:
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Listed by Chickadee Realty & Design
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
22
Avg list price:
$599,444
Min list price:
$209,900
Max list price:
$769,900
Avg days on market:
20
Min days on market:
4
Max days on market:
123
Avg price per sq.ft.:
$560.1
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