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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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NEXT Open House details
Nov 17, 2024 02:00 PM - 04:30 PM MST

219 Cranarch Terrace SE
Cranston Calgary T3M 1Z2

$829,995
Residential beds: 4 baths: 4.0 2,186 sq. ft. built: 2014

Main Photo: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 1: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 2: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 3: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 4: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 5: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 6: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 7: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 8: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 9: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 10: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 11: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 12: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 13: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 14: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 15: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 16: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 17: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 18: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 19: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 20: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 21: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 22: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 23: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 24: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Photo 25: 219 Cranarch Terrace SE in Calgary: Cranston Detached for sale : MLS®# A2162608
Open House - Nov 17, 2024
02:00 PM - 04:30 PM MST
NOTES: Open House on Sunday, November 17, 2024 2:00PM - 4:30PM
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2162608
Bedrooms:
4
Bathrooms:
4
Year Built:
2014
***Open House this Sunday from 2.:00-4:30 PM*** Welcome to this exceptional fully finished two-storey home that provides plenty of space for your growing family in an ideal spot in the sought-after community of Cranston. The upper floor of this stunning home features a spacious master bedroom complete with a luxurious 5-piece en-suite bathroom and a large walk-in closet. Additionally, you'll find two generously sized bedrooms, a 4-piece main bathroom, a versatile bonus room perfect for relaxation or entertainment and a convenient laundry room. On the main level, the open concept design flows seamlessly, showcasing a magnificent kitchen equipped with elegant quartz countertops, stainless steel appliances, an expansive island, a butler's pantry for all your storage needs, and an induction cooktop. The living room invites warmth with its cozy gas fireplace, while the large dining area is perfect for family gatherings. A 2-piece bathroom and a functional mudroom that connects to the double attached garage rounds out this level. The beautifully finished basement is a true gem, offering ample storage and versatile living spaces. It features a spacious fourth bedroom, an inviting home office boasting a custom-built walnut desk (or a fifth bedroom), a recreation area complete with elegant walnut shelving and a stylish 3-piece bathroom adorned with exquisite stone work. Step outside to discover a delightful SE-facing backyard, designed for both relaxation and entertaining. Enjoy the warm ambiance of the cedar deck, cultivate your vegetables in the raised garden, gather around the fire pit for cozy evenings, and take in the breathtaking valley views to the south. This space is perfect for making lasting memories! Just steps away from scenic walking paths, the serene Bow River, ample shopping options, schools, and public transportation. Plus it’s minutes away from the South Health Campus Hospital, Deerfoot Trail and Stoney Trail. Relax in comfort with the recently installed central air conditioning (2023). Don’t miss your chance to own this exceptional property! CALL TODAY!
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:
2,186 sq. ft.
Main Level Finished Area:
935 sq. ft.
Upper Level Finished Area:
1,251 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
853 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
4,133 sq. ft.
Lot Frontage:
34'2"
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:
7
Year built:
2014 (Age: 10)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
1213557
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Hardwood
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Gas, Living Room, Mantle, Stone
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Upper Level
HOA Fee:
$189.53
Cranston
Other
Built-In Oven, Dishwasher, Dryer, Garage Control(s), Induction Cooktop, Microwave, Range Hood, Refrigerator, Washer, Window Coverings
N/A
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
22'1" × 12'
Main Floor
Living Room
15'6" × 12'10"
Main Floor
Dining Room
12'10" × 8'7"
Upper Level
Bonus Room
18'11" × 14'7"
Upper Level
Bedroom - Primary
20'5" × 14'8"
Upper Level
Bedroom
11'11" × 9'2"
Upper Level
Bedroom
11'11" × 9'11"
Lower Level
Bedroom
12'6" × 10'2"
Lower Level
Office
13'3" × 12'6"
Lower Level
Game Room
13'2" × 11'
Floor
Ensuite
Pieces
Other
Main Floor
No
2
3' x 8'4"
Upper Level
Yes
5
9'9" x 10'9"
Upper Level
No
4
7'10" x 5'10"
Lower Level
Yes
3
7'10" x 6'
Title to Land:
Fee Simple
Community Features:
Clubhouse, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Bookcases, Double Vanity, High Ceilings, Kitchen Island, Natural Woodwork, No Animal Home, No Smoking Home, Open Floorplan, Pantry, Quartz Counters, Soaking Tub, Storage
Exterior Features:
Fire Pit, Garden
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Front Yard, Landscaped, Views
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
R-1N
Listed Date:
Sep 06, 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:
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