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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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751 Rundleridge Drive NE
Rundle Calgary T1Y 2L1

$550,000
Residential beds: 5 baths: 3.0 1,237 sq. ft. built: 1975

Main Photo: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 1: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 2: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 3: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 4: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 5: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 6: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 7: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 8: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 9: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 10: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 11: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 12: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 13: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 14: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 15: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 16: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 17: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 18: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Photo 19: 751 Rundleridge Drive NE in Calgary: Rundle Detached for sale : MLS®# A2160315
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2160315
Bedrooms:
5
Bathrooms:
3
Year Built:
1975
Here is a spacious 5 bed, 2.5 bath bi-Level with an illegal suite that offers comfortable living and convenient access to local amenities. Upstairs, you'll find a spacious layout featuring three bedrooms. The one and a half baths upstairs provide ample space for getting ready. Large eat-in kitchen has been remodelled a few years ago. A formal dining room is perfect for hosting dinner parties or enjoying family meals. The cozy living room, adorned with a charming brick fireplace, creates a warm and inviting atmosphere. Downstairs, a fully-finished illegal suite offers a separate entrance, providing privacy and flexibility. A wet bar adds a touch of entertainment, making it a great space for gatherings. The family room, featuring another cozy brick fireplace, offers a comfortable place to relax and unwind. Two additional bedrooms in the lower level provide ample space for guests or family members. A full bathroom and laundry facilities complete the downstairs living space. Conveniently located within a 10 minute walking distance of Rundle train station, Superstore, and Sunridge Mall, this home offers easy access to shopping, dining, and transportation options. Enjoy the convenience of living in a vibrant and bustling neighborhood while also enjoying the peace and quiet of your own private oasis. Any offers will be presented Sunday Sept 15 at 7pm. Please note that the seller reserves the right to accept any offer prior to this date. There is an active leak from the main bath tub into lower level with bucket underneath to catch the dripping water. House needs some TLC.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
Bi-Level
Total Living Area:
1,237 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,199 sq. ft.
Lot Frontage:
52'
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
Levels:
Bi-Level
Total Rooms Above Grade:
6
Year built:
1975 (Age: 49)
Bedrooms:
5 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
2
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
7510277
Heating:
Forced Air, Natural Gas
Basement:
Separate/Exterior Entry, Full, Suite
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Concrete, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Laminate, Tile
Cooling:
ENERGY STAR Qualified Equipment
Fireplaces:
2
Fireplace Details:
Mixed
Garage:
0
Parking:
None, On Street
Parking Places:
3.0
Parking Total/Covered:
3 / -
Laundry Features:
In Basement
Rundle
Electric Range, Electric Stove, Range Hood, Refrigerator, Washer/Dryer, Window Coverings
none
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
11' × 9'
Main Floor
Bedroom
12'4" × 10'
Main Floor
Bedroom - Primary
13' × 12'4"
Main Floor
Living Room
14'5" × 13'7"
Main Floor
Dining Room
11'6" × 9'6"
Main Floor
Kitchen
15'1" × 12'6"
Lower Level
Bedroom
12'4" × 10'
Lower Level
Living/Dining Room Combination
34'5" × 28'6"
Lower Level
Bedroom
11'4" × 9'6"
Lower Level
Kitchen
9'2" × 8'10"
Lower Level
Flex Space
23'8" × 11'11"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
2
0' x 0'
Main Floor
No
4
Lower Level
No
4
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Street Lights, Walking/Bike Paths
Interior Features:
Bar, No Animal Home, No Smoking Home
Exterior Features:
Private Entrance, Private Yard
Patio And Porch Features:
None
Lot Features:
Back Lane, Back Yard, Rectangular Lot, Views
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone NE
Zoning:
R-C1
Listed Date:
Aug 24, 2024
Days on Mkt:
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Listed by Synterra Realty
Data was last updated September 20, 2024 at 08:05 AM (UTC)
Area Statistics
Listings on market:
21
Avg list price:
$599,000
Min list price:
$299,900
Max list price:
$1,299,900
Avg days on market:
22
Min days on market:
3
Max days on market:
65
Avg price per sq.ft.:
$526.57
These statistics are generated based on the current listing's property type and located in Rundle. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706