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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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NEXT Open House details
Nov 16, 2024 01:00 PM - 03:30 PM MST

15 Cranfield Crescent SE
Cranston Calgary T3M 1A6

$715,000
Residential beds: 4 baths: 4.0 1,730 sq. ft. built: 1999

Main Photo: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 1: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 2: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 3: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 4: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 5: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 6: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 7: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 8: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 9: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 10: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 11: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 12: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 13: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 14: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 15: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 16: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 17: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 18: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 19: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 20: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 21: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 22: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 23: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 24: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 25: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 26: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 27: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 28: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Photo 29: 15 Cranfield Crescent SE in Calgary: Cranston Detached for sale : MLS®# A2177373
Open House - Nov 16, 2024
01:00 PM - 03:30 PM MST
NOTES: Open House on Saturday, November 16, 2024 1:00PM - 3:30PM
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2177373
Bedrooms:
4
Bathrooms:
4
Year Built:
1999
Welcome to 15 Cranfield Cres, in the heart of Cranston! Just off Stoney Trail on the north end of the community, this location is to die for. Easy access in and out of the neighbourhood to the major routes, as well as walking distance to the shopping plaza, place it in a great spot. The house itself is on a quiet crescent and sits on a mature lot with plenty of trees and privacy built into the landscaping. Inside, the flooring on the main and bathrooms has just been updated, and the dishwasher is brand new, too!!! The floor plan features a den or flex space on the main floor and an open plan at the back of the house, with the kitchen, nook, and living room, all overlooking that awesome west-facing backyard. Don’t worry about the hot summer nights either, because this home has central A/C! The kitchen has been updated and features granite counters, with an updated backsplash and stainless appliances. The basement is fully developed with another bathroom, bedroom, large rec room, and a huge storage area as well. Upstairs, you’ll find three bedrooms, including a primary retreat that features a four-piece ensuite with a soaker tub and separate shower. This is an extremely well-maintained home and is turnkey ready for its next family to call home. For more details and to see our 360 tour, click the links below.
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:
1,730.2 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
4,176 sq. ft.
Lot Frontage:
36'4"
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:
East
Reg. Size:
Reg. Size Includes:
Levels:
Two
Total Rooms Above Grade:
8
Year built:
1999 (Age: 25)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
9912514
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Vinyl Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Vinyl Plank
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Main Level
HOA Fee:
$180.50
Cranston
None
Central Air Conditioner, Dishwasher, Dryer, Electric Oven, Garage Control(s), Microwave, Range Hood, Refrigerator, Washer
Shed
None Known
Floor
Type
Size
Other
Main Floor
Dining Room
13' × 9'11"
Main Floor
Foyer
9'2" × 8'6"
Main Floor
Kitchen
13' × 12'1"
Main Floor
Laundry
8'5" × 6'11"
Main Floor
Office
12'7" × 8'10"
Main Floor
Living Room
14' × 14'
Upper Level
Bedroom
13'8" × 9'6"
Upper Level
Bedroom
11'11" × 8'8"
Upper Level
Bedroom - Primary
14'2" × 13'
Basement
Bedroom
11'4" × 8'6"
Basement
Game Room
23' × 18'10"
Basement
Storage
10'4" × 9'
Basement
Furnace/Utility Room
14'2" × 11'7"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
5' x 5'
Upper Level
No
4
4'11" x 8'1"
Upper Level
Yes
4
10'10" x 12'9"
Basement
No
4
8'8" x 4'11"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan
Exterior Features:
Private Yard
Patio And Porch Features:
Deck, Patio
Lot Features:
Back Yard, Few Trees, Front Yard, Lawn, Interior Lot, Landscaped, Street Lighting
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
R-G
Listed Date:
Nov 07, 2024
Days on Mkt:
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Listed by eXp Realty
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
57
Avg list price:
$629,900
Min list price:
$264,900
Max list price:
$1,650,000
Avg days on market:
33
Min days on market:
4
Max days on market:
117
Avg price per sq.ft.:
$404.19
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