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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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9028 Fairmount Drive SE
Acadia Calgary T2H 0Z5

$735,000
Residential beds: 3 baths: 2.0 1,114 sq. ft. built: 1961

Exterior Front
Photo 1: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 2: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 3: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 4: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 5: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 6: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 7: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 8: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 9: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 10: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 11: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 12: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 13: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 14: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 15: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 16: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 17: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 18: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 19: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 20: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 21: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 22: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 23: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 24: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 25: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 26: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 27: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 28: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 29: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 30: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 31: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 32: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 33: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 34: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 35: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 36: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Photo 37: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2174870
Bedrooms:
3
Bathrooms:
2
Year Built:
1961
3 BEDROOMS | 2 BATHROOMS | 2,170 SQFT LIVING SPACE | OPEN LAYOUT | HUGE 7350 SQFT LOT | OVERSIZE DOUBLE CAR GARAGE | 4 LEVELS | This is the one you've been waiting for! Welcome to this renovated, fully finished 4-level split in the heart of Acadia! This home has everything you could ask for, starting with the open concept main level with vaulted ceilings, hardwood floors (main and upper level), a spacious living room showered with natural light, the stunning renovated kitchen (2019) with stainless steel appliances, a huge center island built from imported Costa Rican Parota wood, along with a convenient dining/living room. A few steps up from the main level brings you to the 4 piece bath, two good-sized bedrooms, and a large master bedroom. Down a few steps from the main level brings you to a large family room complete with a wet bar to entertain friends and family, this level also has a 3 piece bathroom. Downstairs is the 4th level and offers another large room which is perfect for a gym, another family room/hobby room/movie room – the choice is yours. This level also has a large laundry and storage room, as well as a mechanical room. Acadia is a wonderful community that is safe, friendly, and has plenty of amenities nearby, including parks, schools, shopping centers, major roadways and restaurants. Directly across the street is Lord Beaverbrook High School, the Acadia Aquatic Centre and the renowned Osten & Victor Tennis Centre.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
4 Level Split
Total Living Area:
1,114 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
7,351 sq. ft.
Lot Frontage:
55'
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:
West
Reg. Size:
Reg. Size Includes:
Levels:
4 Level Split
Total Rooms Above Grade:
6
Year built:
1961 (Age: 63)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
7174HS
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Hardwood
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached, On Street
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Unit
Acadia
Dishwasher, Electric Stove, Refrigerator, Window Coverings, Microwave, Washer/Dryer
N/A
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
13'1" × 12'4"
Main Floor
Dining Room
8'9" × 8'7"
Main Floor
Living Room
16'10" × 13'3"
Main Floor
Mud Room
6'3" × 3'6"
2nd Floor
Bedroom - Primary
12'6" × 12'3"
2nd Floor
Bedroom
15'3" × 8'
2nd Floor
Bedroom
11'7" × 9'4"
Lower Level
Family Room
16'11" × 12'10"
Basement
Game Room
20'3" × 12'10"
Basement
Furnace/Utility Room
20'8" × 12'2"
Floor
Ensuite
Pieces
Other
2nd Floor
No
4
4'11" x 8'8"
Lower Level
No
3
5'1" x 8'
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
High Ceilings, No Smoking Home, Vinyl Windows
Exterior Features:
None
Patio And Porch Features:
Deck
Lot Features:
Private
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone S
Zoning:
H-GO
Listed Date:
Nov 07, 2024
Days on Mkt:
  • Photo 1: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Exterior Front
  • Photo 2: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
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  • Photo 4: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Front Entry Into Livingroom
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  • Photo 16: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Master Bedroom
  • Photo 17: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Photo 17 of 37
  • Photo 18: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Upstairs Bathroom
  • Photo 19: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Bedroom 2
  • Photo 20: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Bedroom 3
  • Photo 21: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Lower Level Livingroom
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    Photo 22 of 37
  • Photo 23: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Lower Level Bar
  • Photo 24: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
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  • Photo 25: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Lower Level Bathroom
  • Photo 26: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Photo 26 of 37
  • Photo 27: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Basement Living/Recroom
  • Photo 28: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Storage Room
  • Photo 29: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Mechanical Room
  • Photo 30: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Backyard Exterior
  • Photo 31: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
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  • Photo 35: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    Oversized Garage
  • Photo 36: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
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  • Photo 37: 9028 Fairmount Drive SE in Calgary: Acadia Detached for sale : MLS®# A2174870
    RV Parking Pad
Listed by Royal LePage Benchmark
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