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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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  2. Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

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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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207 Cranberry Way SE
Cranston Calgary T3M 1K1

$569,000
Residential beds: 3 baths: 2.0 1,087 sq. ft. built: 2005

Main Photo: 207 Cranberry Way SE in Calgary: Cranston Detached for sale : MLS®# A2165277
Photo 1: 207 Cranberry Way SE in Calgary: Cranston Detached for sale : MLS®# A2165277
Photo 2: 207 Cranberry Way SE in Calgary: Cranston Detached for sale : MLS®# A2165277
Photo 3: 207 Cranberry Way SE in Calgary: Cranston Detached for sale : MLS®# A2165277
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Photo 41: 207 Cranberry Way SE in Calgary: Cranston Detached for sale : MLS®# A2165277
Photo 42: 207 Cranberry Way SE in Calgary: Cranston Detached for sale : MLS®# A2165277
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2165277
Bedrooms:
3
Bathrooms:
2
Year Built:
2005
Welcome to your new home in the vibrant community of Cranston, Calgary! This delightful 2-story, detached residence offers just under 1100 sq. ft. of well-designed living space, perfect for those seeking both comfort and potential. Step inside to find a cozy and inviting living room, ideal for relaxing and enjoying quality time with family and friends. The kitchen provides both functionality and convenience for everyday living and entertaining. The main floor also features a practical half bath for guests. Upstairs, you’ll discover three comfortably sized bedrooms, each bathed in natural light, and a full family bathroom to serve your needs. The unfinished basement provides a versatile blank slate—perfect for a home gym, additional living space, or a playroom, allowing you to customize it to fit your lifestyle. Outside, you'll find a charming yard ideal for gardening or outdoor activities. A standout feature of this property is the double detached garage, which is insulated, drywalled, and painted. This versatile space offers not just protection for your vehicles, but also the potential for a workshop or extra storage. the recent upgrades are the roof and the HWT in 2021. The seller is willing to include some stuff for free, please see the privet remark.
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:
1,087 sq. ft.
Main Level Finished Area:
542 sq. ft.
Upper Level Finished Area:
545 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
3,035 sq. ft.
Lot Frontage:
27'11"
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:
North
Reg. Size:
Reg. Size Includes:
Levels:
Two
Total Rooms Above Grade:
7
Year built:
2005 (Age: 19)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:1, Half:1)
Plan:
0413990
Heating:
Forced Air, Natural Gas
Basement:
Full, Unfinished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Hardwood, Tile
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Alley Access, Double Garage Detached, Insulated
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement
HOA Fee:
$189.53
Cranston
None
Dishwasher, Dryer, Electric Stove, Garage Control(s), Microwave, Refrigerator, Washer, Window Coverings
N/A
None Known
Floor
Type
Size
Other
Main Floor
Dining Room
9'10" × 9'5"
Main Floor
Foyer
11'7" × 7'
Main Floor
Kitchen
11'7" × 6'9"
Main Floor
Living Room
13'9" × 11'5"
2nd Floor
Bedroom
12'7" × 9'
2nd Floor
Bedroom
9'8" × 8'11"
2nd Floor
Bedroom - Primary
12'10" × 11'
Basement
Storage
27'1" × 18'
Floor
Ensuite
Pieces
Other
Main Floor
No
2
4'8" x 4'9"
2nd Floor
No
4
4'11" x 7'5"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
No Animal Home, No Smoking Home, Storage
Exterior Features:
Private Yard
Patio And Porch Features:
Deck
Lot Features:
See Remarks
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
R-1N
Listed Date:
Sep 16, 2024
Days on Mkt:
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Listed by RE/MAX First
Data was last updated September 20, 2024 at 08:05 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