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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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187 Cranford Crescent SE
Cranston Calgary T3M 0X9

$625,000
Residential beds: 3 baths: 3.0 1,581 sq. ft. built: 2012

Main Photo: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 1: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 2: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 3: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 4: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 5: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 6: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 7: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 8: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 9: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 10: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 11: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 12: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 13: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 14: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 15: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 16: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 17: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 18: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 19: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 20: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 21: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 22: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 23: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 24: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 25: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 26: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 27: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 28: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 29: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 30: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 31: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 32: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 33: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 34: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Photo 35: 187 Cranford Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2157844
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2157844
Bedrooms:
3
Bathrooms:
3
Year Built:
2012
This exceptional former Morrison show home is perfectly situated on a quiet street in Cranston, offering easy access to the neighbourhood's outstanding amenities. The open-concept layout features 9-foot ceilings, elegant hardwood and tile flooring, and a chef's kitchen with 42-inch espresso-stained cabinetry, granite countertops, and stainless steel appliances. Large windows fill the home with natural light, creating a bright and welcoming atmosphere. Upstairs, you'll find a spacious primary suite complete with a luxurious ensuite bath and walk-in closet, conveniently located next to the laundry room. Two additional large bedrooms, a full bath, and a generous linen closet round out the upper level, providing modern comfort and convenience for any lifestyle. Living in Cranston means enjoying the best community amenities, including Century Hall's gymnasium, banquet hall, outdoor rink, toboggan hill, splash park, playground, skate park, and courts for tennis, pickleball, and basketball. Families will appreciate the short walk to Our Lady of the Rosary School and Sibylla Kiddle School, while outdoor enthusiasts will love the breathtaking bike trails along Fish Creek. The basement is thoughtfully designed for future development, and the double detached garage offers secure parking and extra storage. This home represents unbeatable value in the neighbourhood and is truly a "must-see." Contact us today to make this exceptional property your new home!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
1,580.88 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
2,734 sq. ft.
Lot Frontage:
7'8"
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:
Southeast
Reg. Size:
Reg. Size Includes:
Levels:
Two
Total Rooms Above Grade:
7
Year built:
2012 (Age: 12)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
1014726
Heating:
Forced Air, Natural Gas
Basement:
Full, Unfinished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stucco, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Gas, Living Room
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Laundry Room, Upper Level
HOA Fee:
$180.50
Cranston
Gazebo, Other, Park, Playground, Snow Removal
Dishwasher, Dryer, Microwave, Range Hood, Refrigerator, Stove(s), Washer, Window Coverings
N/A
None Known
Floor
Type
Size
Other
Main Floor
Living Room
15'3" × 13'11"
Main Floor
Kitchen
12'10" × 12'5"
Main Floor
Dining Room
12'11" × 12'9"
Main Floor
Foyer
5' × 4'10"
Main Floor
Mud Room
6'9" × 3'3"
Upper Level
Bedroom - Primary
13'5" × 12'5"
Upper Level
Walk-In Closet
6'1" × 4'11"
Upper Level
Bedroom
10' × 9'3"
Upper Level
Bedroom
10'5" × 9'3"
Upper Level
Laundry
6'9" × 3'
Floor
Ensuite
Pieces
Other
Main Floor
No
2
5' x 5'3"
Upper Level
Yes
4
6'1" x 13'
Upper Level
No
4
4'11" x 9'6"
Title to Land:
Fee Simple
Community Features:
Park, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Kitchen Island, No Smoking Home, Walk-In Closet(s)
Exterior Features:
Private Yard
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Back Yard, Landscaped, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
R-1N
Listed Date:
Aug 15, 2024
Days on Mkt:
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Listed by eXp Realty
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
77
Avg list price:
$599,900
Min list price:
$279,900
Max list price:
$1,379,000
Avg days on market:
17
Min days on market:
1
Max days on market:
114
Avg price per sq.ft.:
$399.34
These statistics are generated based on the current listing's property type and located in Cranston. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706