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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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25 Rossmount Road SW
Rosscarrock Calgary T3C 2P4

$699,900
Residential beds: 4 baths: 2.0 1,048 sq. ft. built: 1959

Main Photo: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 1: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 2: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 3: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 4: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 5: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 6: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 7: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 8: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 9: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 10: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 11: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 12: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 13: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 14: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 15: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 16: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 17: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 18: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 19: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 20: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 21: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 22: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 23: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 24: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 25: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 26: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 27: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 28: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 29: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 30: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 31: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 32: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 33: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 34: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 35: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 36: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Photo 37: 25 Rossmount Road SW in Calgary: Rosscarrock Detached for sale : MLS®# A2152470
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2152470
Bedrooms:
4
Bathrooms:
2
Year Built:
1959
Incredible Investment Opportunity near down town, C-train, ring road access and all amenities. This is an enormous lot and has huge potential for redevelopment. Sellers have had preliminary talks with the City of Calgary about building town houses. This enormous lot comes with Development permit drawings for two very unique and well designed detached houses. This would be an incredible opportunity to buy and hold while collecting revenue until you are ready to build.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bungalow
Total Living Area:
1,048 sq. ft.
Main Level Finished Area:
1,048 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,048 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
6,695 sq. ft.
Lot Frontage:
169'2¾"
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:
One
Total Rooms Above Grade:
6
Year built:
1959 (Age: 65)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
7856HD
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Asphalt, Composite Siding, Stucco, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Ceramic Tile, Hardwood, Linoleum, Tile
Cooling:
None
Fireplaces:
0
Water Supply:
Public
Garage:
0
Parking:
Parking Pad
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement
Rosscarrock
Dryer, Electric Stove, Range Hood, Refrigerator, Washer, Window Coverings
Aluminum Shed
See Remarks
Floor
Type
Size
Other
Main Floor
Living Room
17'2" × 11'9"
Main Floor
Dining Room
10'8" × 7'
Main Floor
Kitchen
10'1" × 8'8"
Main Floor
Bedroom - Primary
12'10" × 10'2"
Main Floor
Bedroom
11' × 10'2"
Main Floor
Bedroom
9'11" × 9'2"
Lower Level
Great Room
30'6" × 15'
Lower Level
Bedroom
11' × 9'5"
Lower Level
Laundry
11'1" × 9'9"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
Basement
No
3
Title to Land:
Fee Simple
Community Features:
Playground
Interior Features:
See Remarks
Exterior Features:
Fire Pit, Storage
Patio And Porch Features:
Patio
Lot Features:
Back Lane, Corner Lot, Reverse Pie Shaped Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone W
Zoning:
R-C2
Listed Date:
Aug 20, 2024
Days on Mkt:
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Listed by CIR Realty
Data was last updated September 21, 2024 at 08:05 AM (UTC)
Area Statistics
Listings on market:
15
Avg list price:
$1,064,800
Min list price:
$215,000
Max list price:
$1,280,000
Avg days on market:
32
Min days on market:
9
Max days on market:
196
Avg price per sq.ft.:
$526.41
These statistics are generated based on the current listing's property type and located in Rosscarrock. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706