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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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956 Prestwick Circle SE
McKenzie Towne Calgary T2Z 4E2

$623,000
Residential beds: 3 baths: 3.0 1,787 sq. ft. built: 2003

Main Photo: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 1: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 2: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 3: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 4: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 5: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 6: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 7: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 8: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 9: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 10: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 11: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 12: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 13: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 14: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 15: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 16: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 17: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 18: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 19: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 20: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Photo 21: 956 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2137471
Status:
Sold
Sold Date:
Jun 23, 2024
Listed Price:
$624,500
Sold Price:
$623,000
Sold in:
17 days
Prop. Type:
Residential
MLS® Num:
A2137471
Bedrooms:
3
Bathrooms:
3
Year Built:
2003
A stunning residence that promises to impress! A large front porch welcomes you as you approach the front entrance. A large family room, and an office/den is are located on either side of the hallway leading to the kitchen. The kitchen is well-equipped with a dining area and an island, perfect for meal preparation and gatherings. The living room boasts a cozy gas fireplace that has been recently serviced, adding warmth and charm to the space. The upper floor boasts three generously sized bedrooms, including a truly giant master bedroom complete with a walk-in closet, a relaxing soaker tub, and a separate shower. The convenience of a top-floor laundry room with ample space enhances the functionality of the home. Two other bedrooms are located on this floor with a well-appointed 4-piece bathroom with another soothing soaker tub. This elegant home features a rare and coveted 28 feet wide detached garage with additional attic storage space, providing ample space for your vehicles and storage needs. One of the highlights of this property is the expansive backyard, perfect for outdoor activities and relaxation. Whether you're hosting a summer barbecue or enjoying a quiet evening under the stars, the large patio space provides an ideal setting. Additionally, the home is conveniently located close to the 130th Ave amenities and is within walking distance to a beautiful playground and green area, making it an ideal location for families.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
45 days / Neg
Suite:
No
Home Style:
2 Storey
Total Living Area:
1,787 sq. ft.
Main Level Finished Area:
916 sq. ft.
Upper Level Finished Area:
871 sq. ft.
Taxes:
$3,684 / 2024
HOA Fee Frequency:
Annually
HOA Fee Includes:
Amenities w/HOA, Common Area Maintenance
Lot Area:
3,818 sq. ft.
Lot Frontage:
34'1"
Front Exposure:
West
Levels:
Two
Total Rooms Above Grade:
8
Year built:
2003 (Age: 21)
Bedrooms:
3
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
0211557
Heating:
Forced Air, Natural Gas
Basement:
Full, Unfinished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile
Cooling:
None
Fireplaces:
1
Fireplace Details:
Family Room, Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached, Garage Faces Rear, Insulated
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Upper Level
HOA Fee:
$226.60
McKenzie Towne
Playground, Recreation Facilities
Dishwasher, Range Hood, Refrigerator, Stove(s), Washer/Dryer, Window Coverings
gas fireplace
Easement Registered On Title, Restrictive Covenant
Floor
Type
Size
Other
Main Floor
Living Room
12'5" × 10'2"
Main Floor
Dining Room
12' × 8'11"
Main Floor
Family Room
12'10" × 12'8"
Main Floor
Office
11'6" × 7'9"
Main Floor
Kitchen
11'4" × 10'2"
2nd Floor
Bedroom - Primary
12'10" × 12'5"
2nd Floor
Bedroom
12'8" × 9'5"
2nd Floor
Bedroom
13'5" × 9'1"
2nd Floor
Laundry
8'3" × 5'5"
2nd Floor
Walk-In Closet
7' × 5'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
3' x 6'1"
2nd Floor
No
4
4'11" x 9'1"
2nd Floor
Yes
4
6'8" x 12'9"
Title to Land:
Fee Simple
Community Features:
Clubhouse, Playground, Schools Nearby, Shopping Nearby
Interior Features:
Central Vacuum, Kitchen Island, Pantry
Exterior Features:
Private Yard
Patio And Porch Features:
Deck, Front Porch
Lot Features:
Back Lane, Back Yard, Garden, Landscaped
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
R-1N
Listed Date:
Jun 06, 2024
Days on Mkt:
17
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Listed by TREC The Real Estate Company
Data was last updated September 28, 2024 at 02:05 AM (UTC)
Diane Richardson
Cell: 403-397-3706