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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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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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55 Mahogany Rise SE
Mahogany Calgary T3M 0X6

$824,900
Residential beds: 5 baths: 4.0 2,549 sq. ft. built: 2010

Main Photo: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 1: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 2: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 3: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 4: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 5: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 6: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 7: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 8: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 9: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 10: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 11: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 12: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 13: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 14: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 15: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 16: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 17: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 18: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 19: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 20: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 21: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 22: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 23: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 24: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 25: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
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Photo 27: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
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Photo 29: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 30: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 31: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 32: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 33: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 34: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 35: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 36: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 37: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 38: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 39: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 40: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 41: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Photo 42: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2169002
Bedrooms:
5
Bathrooms:
4
Year Built:
2010
Welcome to your dream family home in the sought-after Mahogany community, where luxury living meets family-friendly comfort! Just a block and a half from the shimmering lake and directly across from a playground, this location is perfect for families looking for both adventure and convenience. Step inside and be captivated by soaring vaulted ceilings, expansive sunshine windows, and a stunning floor-to-ceiling fireplace that creates a bright, welcoming space for family gatherings. The open concept main floor is ideal for entertaining guests and hosting family dinners, with plenty of room for everyone to relax and enjoy. Built-in speakers provide a full surround-sound experience, while rough-ins for additional audio and air conditioning let you customize this home even further. Upstairs, discover a private master retreat featuring huge walk-in closet, and a spa-like ensuite with a soaker tub and double vanities. Three additional bedrooms and a large, vaulted family room ensure everyone has a place to call their own. The fully finished basement, with its nine-foot ceilings and oversized sunshine windows, offers endless possibilities for a game room, home theater, or extra guest space, including a huge fifth bedroom and full bath. Outside, a large, brand new deck and fenced backyard create the perfect spot for barbecues and outdoor fun. Nestled in a vibrant community, you’ll enjoy year-round lake activities, nearby parks, shopping, and top-tier schools, making this home a true gem. Don’t miss your chance to create lifelong memories in this exceptional family retreat!
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:
2,549 sq. ft.
Main Level Finished Area:
1,125 sq. ft.
Upper Level Finished Area:
1,423 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,125 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
4,133 sq. ft.
Lot Frontage:
35'11⅞"
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:
Two
Total Rooms Above Grade:
8
Year built:
2010 (Age: 14)
Bedrooms:
5 (Above Grd: 4)
Bedrooms Above Grade:
4
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
1014102
Heating:
High Efficiency, In Floor, Fireplace(s), Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Stucco, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Laminate, Linoleum
Cooling:
Rough-In
Fireplaces:
2
Fireplace Details:
Basement, Electric, Family Room, Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Sink, Upper Level
HOA Fee:
$570.00
Mahogany
Beach Access, Clubhouse
Convection Oven, Dishwasher, Dryer, Garage Control(s), Humidifier, Microwave Hood Fan, Refrigerator, Washer, Water Conditioner, Water Softener, Window Coverings
n/a
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
18' × 12'
Main Floor
Dining Room
13' × 11'
Main Floor
Living Room
16' × 13'
Main Floor
Den
10' × 9'6"
Upper Level
Laundry
9' × 5'6"
Upper Level
Bedroom - Primary
16'6" × 13'
Upper Level
Bedroom
12'4" × 11'6"
Upper Level
Bedroom
11'4" × 10'
Upper Level
Bedroom
11'6" × 10'
Basement
Flex Space
16'6" × 9'
Basement
Game Room
23' × 16'6"
Basement
Bedroom
14'6" × 13'
Floor
Ensuite
Pieces
Other
Main Floor
No
2
4'6" x 5'
Upper Level
No
4
5' x 10'
Upper Level
Yes
5
9'6" x 11'6"
Basement
No
4
5' x 9'
Title to Land:
Fee Simple
Community Features:
Clubhouse, Fishing, Lake, Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Bar, Bookcases, Built-in Features, Ceiling Fan(s), Closet Organizers, Double Vanity, High Ceilings, Kitchen Island, Pantry, See Remarks, Vaulted Ceiling(s), Vinyl Windows, Walk-In Closet(s), Wired for Sound
Exterior Features:
BBQ gas line, Storage
Patio And Porch Features:
Deck
Lot Features:
Underground Sprinklers, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
R-1N
Listed Date:
Sep 26, 2024
Days on Mkt:
  • Photo 1: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
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  • Photo 2: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
    beautiful stone fireplace
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    gorgeous large kitchen
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    living room
  • Photo 7: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
    living room with shelving removed
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    main floor bath
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    main floor den or office
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    masterbedroom
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    ensuite
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  • Photo 20: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
    huge vaulted bonus room
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  • Photo 25: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
    upstairs bath
  • Photo 26: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
    upstairs laundry
  • Photo 27: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
    downstairs family room
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  • Photo 31: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
    custom bar
  • Photo 32: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
    gym space is roughed in for kitchen
  • Photo 33: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
    cozy fireplace in office/bedroom
  • Photo 34: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
    large office or bedroom
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  • Photo 36: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
    downstairs bath
  • Photo 37: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
    brand new deck
  • Photo 38: 55 Mahogany Rise SE in Calgary: Mahogany Detached for sale : MLS®# A2169002
    large shed on side of house- walkthrough and 3 skylights!
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Listed by Charles
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
103
Avg list price:
$678,900
Min list price:
$284,999
Max list price:
$2,795,000
Avg days on market:
39
Min days on market:
1
Max days on market:
375
Avg price per sq.ft.:
$456.06
These statistics are generated based on the current listing's property type and located in Mahogany. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706