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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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1956 Kelwood Drive SW
Glendale Calgary T3E 3Z3

$799,900
Residential beds: 2 baths: 2.0 1,220 sq. ft. built: 1954

Main Photo: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 1: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 2: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 3: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 4: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 5: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 6: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 7: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 8: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 9: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 10: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 11: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 12: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 13: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 14: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 15: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 16: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 17: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 18: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
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Photo 21: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 22: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 23: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 24: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 25: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
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Photo 36: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 37: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 38: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Photo 39: 1956 Kelwood Drive SW in Calgary: Glendale Detached for sale : MLS®# A2164975
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2164975
Bedrooms:
2
Bathrooms:
2
Year Built:
1954
Located in the established community of Glendale & situated on a sweeping 7179 sq ft corner lot, this very well maintained 1950’s 2 bedroom bungalow (was 3 bedrooms - third bedroom converted to den) & would be ideal to transform into the picture perfect family home. The main level includes large living & dining rooms, a den/office, kitchen with stainless steel appliances, 2 bedrooms & a 3 piece bath adorned with 1950’s retro tile. Basement development includes a large family room with fireplace, den/flex room, a 4 piece bath & laundry room. Outside, enjoy the beautifully treed front yard & large back yard with patio & access to the double detached garage. This home is located close to parks, schools, shopping, public transit & has easy access to 17th Avenue & Sarcee Trail.
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:
1,220.3 sq. ft.
Main Level Finished Area:
1,220.3 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,089.94 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
7,179 sq. ft.
Lot Frontage:
78'5¾"
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:
Southwest
Reg. Size:
Reg. Size Includes:
Levels:
One
Total Rooms Above Grade:
6
Year built:
1954 (Age: 70)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
1365GT
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stucco, Wood Frame, Wood Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Linoleum
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement, Laundry Room
Glendale (Calgary)
Electric Stove, Garage Control(s), Microwave Hood Fan, Refrigerator, Trash Compactor, Window Coverings
None.
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
13' × 11'5"
Main Floor
Dining Room
11'8" × 11'
Main Floor
Living Room
17' × 13'2"
Main Floor
Office
13' × 11'3"
Main Floor
Bedroom - Primary
12'3" × 12'
Main Floor
Bedroom
12'2" × 9'8"
Basement
Family Room
24'1" × 17'11"
Basement
Den
13'10" × 8'6"
Basement
Laundry
14' × 9'8"
Basement
Furnace/Utility Room
9'2" × 6'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
3
0' x 0'
Basement
No
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Built-in Features, Dry Bar, French Door, Soaking Tub
Exterior Features:
Private Entrance, Private Yard
Patio And Porch Features:
Patio
Lot Features:
Back Lane, Back Yard, Fruit Trees/Shrub(s), Front Yard, Lawn, Irregular Lot, Landscaped, Many Trees, Sloped Up
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone W
Zoning:
R-C1
Listed Date:
Sep 11, 2024
Days on Mkt:
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Listed by RE/MAX Real Estate (Central)
Data was last updated September 21, 2024 at 02:05 PM (UTC)
Area Statistics
Listings on market:
5,182
Avg list price:
$599,900
Min list price:
$134,900
Max list price:
$10,000,000
Avg days on market:
24
Min days on market:
1
Max days on market:
619
Avg price per sq.ft.:
$442.11
These statistics are generated based on the current listing's property type and located in Calgary. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706