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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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48 Cranbrook Manor SE
Cranston Calgary T3M 3K6

$925,000
Residential beds: 4 baths: 4.0 2,473 sq. ft. built: 2021

Main Photo: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 1: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 2: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 3: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 4: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 5: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 6: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 7: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 8: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 9: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 10: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 11: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 12: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 13: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 14: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 15: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 16: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 17: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 18: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 19: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 20: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 21: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 22: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 23: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 24: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 25: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 26: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 27: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 28: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 29: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 30: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 31: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 32: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 33: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Photo 34: 48 Cranbrook Manor SE in Calgary: Cranston Detached for sale : MLS®# A2164627
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2164627
Bedrooms:
4
Bathrooms:
4
Year Built:
2021
Located in the sought-after community of Cranston Riverstone, this meticulously maintained property offers over 3,600 sq. ft. of upgraded living space. Just a few hundred meters from the Bow River and steps away from the Bow River Pathway, this immaculate home is perfectly positioned for those who appreciate nature and convenience. Featuring 3+1 bedrooms, 3.5 bathrooms, and a separate entrance to the fully finished basement—completed by the builder—this home is designed for both luxury and practicality. The basement also includes a wet bar rough-in, ideal for future customization. On the main floor, the open concept layout is highlighted by a chef's dream kitchen with upgraded two-tone, full-height cabinetry, a 9-foot quartz island with breakfast bar, and a built-in pantry for easy access from the mudroom and garage. The living area boasts a wall of windows that flood the space with natural light, leading to a large, northwest-facing backyard. The upgraded luxury vinyl plank flooring adds a modern touch throughout. Upstairs, you'll find a spacious bonus room and a primary suite with a 5-piece ensuite featuring quartz countertops, a double vanity, a soaker tub, and a separate tiled shower. Two additional bedrooms, each with vaulted ceilings and walk-in closets, complete this level, along with a laundry room equipped with an upgraded washer and dryer. The fully developed basement includes a large recreation room, an additional bedroom, and a 4-piece bathroom, as well as ample storage space with two furnaces and a hot water tank. The separate entrance offers potential for flexibility and privacy. This elegant home is located in a vibrant, family-friendly community close to the YMCA, schools, parks, shopping, and scenic walking and bike paths. It’s the perfect property for those seeking a luxurious lifestyle in one of Calgary’s finest neighborhoods. Don't miss out on this incredible opportunity—call now to book your private viewing.
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:
2,473 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
4,456 sq. ft.
Lot Frontage:
26'10¾"
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:
Unit Exposure:
Northwest
Levels:
Two
Total Rooms Above Grade:
7
Year built:
2021 (Age: 3)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
2110047
Heating:
Forced Air
Basement:
Separate/Exterior Entry, Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Composite Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Laundry Room
HOA Fee:
$517.65
Cranston
None
Built-In Oven, Dishwasher, Electric Cooktop, Microwave, Refrigerator, Washer/Dryer, Window Coverings
N/A
None Known
Floor
Type
Size
Other
Main Floor
Dining Room
21'11" × 8'11"
Main Floor
Living Room
20'6" × 13'6"
Main Floor
Kitchen
15'2" × 12'6"
Upper Level
Bonus Room
15'9" × 12'9"
Upper Level
Laundry
6'3" × 5'1"
Upper Level
Bedroom - Primary
13'4" × 12'10"
Upper Level
Bedroom
12'1" × 10'11"
Upper Level
Bedroom
11'11" × 10'5"
Lower Level
Game Room
33'2" × 15'4"
Basement
Bedroom
12'5" × 9'11"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
0' x 0'
Upper Level
No
4
0' x 0'
Upper Level
Yes
5
0' x 0'
Lower Level
No
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Fishing, Park, Playground, Schools Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Kitchen Island, No Animal Home, No Smoking Home, Separate Entrance
Exterior Features:
Private Yard
Patio And Porch Features:
Other
Lot Features:
Pie Shaped Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
R-G
Listed Date:
Sep 13, 2024
Days on Mkt:
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Listed by KIC Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
55
Avg list price:
$630,000
Min list price:
$264,900
Max list price:
$1,650,000
Avg days on market:
34
Min days on market:
1
Max days on market:
118
Avg price per sq.ft.:
$399.93
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