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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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  2. Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

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When contacting me, please ensure to include the property address or MLS® number for the listing you are interested in. I look forward to hearing from you!

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247 & 251 Rundlecairn Road NE
Rundle Calgary T1Y 2X8

$1,299,900
Residential beds: 5 baths: 3.0 2,469 sq. ft. built: 1976

Main Photo: 247 & 251 Rundlecairn Road NE in Calgary: Rundle Detached for sale : MLS®# A2161508
Photo 1: 247 & 251 Rundlecairn Road NE in Calgary: Rundle Detached for sale : MLS®# A2161508
Photo 2: 247 & 251 Rundlecairn Road NE in Calgary: Rundle Detached for sale : MLS®# A2161508
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2161508
Bedrooms:
5
Bathrooms:
3
Year Built:
1976
88X100 LOT | RCG ZONING | 2 HOMES | 8800 SF FLAT LOT | Presenting a unique and profitable investment opportunity in the highly desirable neighborhood of Rundle. This listing includes a property lot with an existing house/garage, while its neighboring property is also for sale. This makes for an ideal canvas for developers or investors looking to capitalize on the upcoming city-wide blanket rezoning initiative. With the zoning forecasted to change to R-CG shortly, this offering has the potential to become a lucrative 6-plex development, by approval from the City of Calgary. The properties are perfectly positioned in a high-amenity area, just minutes away from the Peter Lougheed Hospital, Rundle LRT station, a diverse selection of restaurants, grocery stores, playgrounds, and schools. The neighborhood’s accessibility is further enhanced by its proximity to major roadways, including 16 Avenue, Deerfoot Trail, and 52 Street, making it a prime location for future residents. Whether you are an experienced developer or a savvy investor, this is a rare chance to embark on a project that promises significant returns. The combination of a strategic location, imminent zoning changes, and the potential for multi-family development makes this an opportunity not to be missed. 251 Rundlecairn Road NE can be sold separately (A2159868). Take advantage of this chance to shape the future of Rundle and create a lasting impact in one of Calgary’s most sought-after communities.
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:
2,468.62 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
8,804 sq. ft.
Lot Frontage:
88'
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:
Northwest
Reg. Size:
Reg. Size Includes:
Levels:
One
Total Rooms Above Grade:
8
Year built:
1976 (Age: 48)
Bedrooms:
5 (Above Grd: 4)
Bedrooms Above Grade:
4
Bedrooms Below Grade:
1
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
7511020
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Linoleum, Tile
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Alley Access, Covered, Double Garage Detached, Garage Door Opener, On Street
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Unit
Rundle
See Remarks
n/a
See Remarks
Floor
Type
Size
Other
Main Floor
Dining Room
11'8" × 10'2"
Main Floor
Family Room
13'9" × 11'11"
Main Floor
Kitchen
11'8" × 9'6"
Main Floor
Living Room
13'2" × 11'10"
2nd Floor
Bedroom
9'8" × 9'7"
2nd Floor
Bedroom
11'9" × 9'
2nd Floor
Bedroom
9'10" × 8'5"
2nd Floor
Bedroom - Primary
13'2" × 11'7"
Basement
Bedroom
11'5" × 9'9"
Basement
Game Room
16'8" × 14'5"
Basement
Storage
5'1" × 2'11"
Basement
Furnace/Utility Room
15' × 12'
Floor
Ensuite
Pieces
Other
Main Floor
No
2
6'2" x 2'7"
2nd Floor
No
4
6'7" x 8'5"
Basement
No
4
5' x 7'10"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Closet Organizers, See Remarks, Storage
Exterior Features:
Garden, Lighting, Private Entrance, Private Yard, Rain Gutters
Patio And Porch Features:
Deck
Lot Features:
Back Yard, City Lot, Garden, Low Maintenance Landscape, Landscaped, Street Lighting, Private
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone NE
Zoning:
R-CG
Listed Date:
Aug 29, 2024
Days on Mkt:
  • Photo 1: 247 & 251 Rundlecairn Road NE in Calgary: Rundle Detached for sale : MLS®# A2161508
    Photo 1 of 2
  • Photo 2: 247 & 251 Rundlecairn Road NE in Calgary: Rundle Detached for sale : MLS®# A2161508
    Photo 2 of 2
Listed by Real Broker
Data was last updated November 13, 2024 at 12:05 AM (UTC)
Area Statistics
Listings on market:
24
Avg list price:
$559,950
Min list price:
$264,900
Max list price:
$1,299,900
Avg days on market:
18
Min days on market:
2
Max days on market:
101
Avg price per sq.ft.:
$498.86
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