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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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38 Armstrong Crescent SE
Acadia Calgary T2J 0X3

$764,900
Residential beds: 4 baths: 3.0 1,031 sq. ft. built: 1960

Main Photo: 38 Armstrong Crescent SE in Calgary: Acadia Detached for sale : MLS®# A2175272
Photo 1: 38 Armstrong Crescent SE in Calgary: Acadia Detached for sale : MLS®# A2175272
Photo 2: 38 Armstrong Crescent SE in Calgary: Acadia Detached for sale : MLS®# A2175272
Photo 3: 38 Armstrong Crescent SE in Calgary: Acadia Detached for sale : MLS®# A2175272
Photo 4: 38 Armstrong Crescent SE in Calgary: Acadia Detached for sale : MLS®# A2175272
Photo 5: 38 Armstrong Crescent SE in Calgary: Acadia Detached for sale : MLS®# A2175272
Photo 6: 38 Armstrong Crescent SE in Calgary: Acadia Detached for sale : MLS®# A2175272
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Photo 43: 38 Armstrong Crescent SE in Calgary: Acadia Detached for sale : MLS®# A2175272
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Photo 45: 38 Armstrong Crescent SE in Calgary: Acadia Detached for sale : MLS®# A2175272
Photo 46: 38 Armstrong Crescent SE in Calgary: Acadia Detached for sale : MLS®# A2175272
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2175272
Bedrooms:
4
Bathrooms:
3
Year Built:
1960
This is 38 Armstrong Crescent in ACADIA, a highly sought out community located close to everything you need or might need. This home located in a quiet street is where your dream of an idyllic family home comes to life! This completely and beautifully renovated home offers almost 2000sqft of developed space showcasing pure elegance and convenience. This home is within walking distance to ALL levels of school, community center, Tennis centre, and very short drive to chinook center, Costco and shopping, and very easy access to Deerfoot Trail Upon entering, you'll be immediately captivated by the meticulously planned floor plan, brimming with abundant natural light that pours in from every corner, creating an atmosphere of warmth and serenity. Step onto a living area with a beautiful fire place giving a warmth of welcome. The breakfast island and spacious kitchen with the glimmering quartz counters and brand new stainless-steel appliances are perfect for all your culinary adventure. With a dining area, this space is absolutely perfect for entertainment. There is a huge primary bedroom complete with two closet spaces that houses custom build shelves leads you into a well planned ensuite. This level is complete with another bedroom and a main floor bathroom. Come on downstairs to the basement with a huge rec. room complete with a bar. This space is perfect for games night for the whole family to spend time with each other after a busy day out. Two great sized bedroom comes with egress windows, a walk-in shower and laundry complete this level. You have a double detached garage and a huge backyard. Perfect for the kids to play within sight and for your dogs to run around. only the foundation and some of the exterior walls are original. This house comes with new insulation, trusses, drywall, windows, interior walls, interior framing, roof, furnace, hot water tank, appliances, cabinets, this list keeps going on. Really new everything!
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:
1,031.1 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
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:
South
Reg. Size:
Reg. Size Includes:
Levels:
One
Total Rooms Above Grade:
5
Year built:
1960 (Age: 64)
Bedrooms:
4 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
2
Bathrooms:
3.0 (Full:3, Half:0)
Plan:
2303ID
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Composite Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Vinyl Plank
Cooling:
None
Fireplaces:
1
Fireplace Details:
Electric
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached, Garage Faces Rear, Off Street
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
In Basement
Acadia
Dishwasher, Dryer, Gas Range, Microwave, Range Hood, Refrigerator, Washer
Garage door control
None Known
Floor
Type
Size
Other
Main Floor
Living Room
14' × 12'9"
Main Floor
Kitchen
12' × 11'9"
Main Floor
Dining Room
9'4" × 9'1"
Main Floor
Bedroom - Primary
12'7" × 12'2"
Main Floor
Walk-In Closet
8'8" × 5'
Main Floor
Bedroom
10'5" × 7'8"
Basement
Game Room
21'3" × 13'7"
Basement
Bedroom
11'10" × 8'2"
Basement
Bedroom
11'11" × 8'11"
Basement
Laundry
8'2" × 5'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 8'8"
Main Floor
Yes
4
8'10" x 6'
Basement
No
3
4'11" x 7'11"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Pool, Schools Nearby, Shopping Nearby, Sidewalks, Walking/Bike Paths
Interior Features:
Bar, Breakfast Bar, Chandelier, Closet Organizers, Double Vanity, Kitchen Island, Natural Woodwork, No Animal Home, No Smoking Home, Open Floorplan, Quartz Counters, Walk-In Closet(s)
Exterior Features:
Fire Pit, Private Yard
Patio And Porch Features:
Patio
Lot Features:
Back Lane, Back Yard, Cleared, Front Yard, Lawn, Landscaped, Rectangular Lot, Treed
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone S
Zoning:
R-CG
Listed Date:
Oct 31, 2024
Days on Mkt:
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Listed by CIR Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
20
Avg list price:
$611,950
Min list price:
$209,900
Max list price:
$769,900
Avg days on market:
21
Min days on market:
5
Max days on market:
124
Avg price per sq.ft.:
$586.39
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