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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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20 Rossburn Crescent SW
Rosscarrock Calgary T3C 2N5

$649,900
Residential beds: 3 baths: 2.0 959 sq. ft. built: 1958

Main Photo: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 1: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 2: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 3: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 4: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 5: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 6: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 7: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 8: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 9: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 10: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 11: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 12: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 13: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 14: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 15: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 16: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 17: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
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Photo 23: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 24: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 25: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
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Photo 34: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 35: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 36: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 37: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Photo 38: 20 Rossburn Crescent SW in Calgary: Rosscarrock Detached for sale : MLS®# A2173493
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2173493
Bedrooms:
3
Bathrooms:
2
Year Built:
1958
Original condition 50's bungalow on a large R-CG lot facing greenspace. Ideal property for renovator, builder/developer, or any investor simply looking to add to their Real Estate Portfolio. Prime Inner-City location, all situated on an ultra quiet street, yet close to numerous essential amenities. The main floor of this long-time owner occupied home consists of the kitchen with sliders to the rear deck, 1 - 4pc bathroom, 3 bedrooms, and sun filled living room each with hardwood floors. The basement is equipped with a separate entrance to an older illegal suite. Out back you'll find a large wooden deck and a 24 x22 double detached garage. Please note: Property, house, buildings and all inclusions are sold “As Is". A wonderful opportunity not to be missed in the highly sought after community of Rosscarrock.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
Bungalow
Total Living Area:
959.1 sq. ft.
Main Level Finished Area:
959.1 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
6,157 sq. ft.
Lot Frontage:
34'9"
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:
South
Reg. Size:
Reg. Size Includes:
Levels:
One
Total Rooms Above Grade:
6
Year built:
1958 (Age: 66)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
7856HD
Heating:
Forced Air
Basement:
Full, Suite
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Hardwood, Parquet, Tile
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Main Level
Rosscarrock
Dryer, Electric Range, Refrigerator, Washer, Dishwasher
For Clarity included is as follows: 2 Fridges, 1 Stove, 2 dryers, 1 Washer, 1 Dishwasher, Central Vacuum System, Window Coverings ( All AS IS )
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
11'3" × 9'5"
Main Floor
Dining Room
11'3" × 6'8"
Main Floor
Living Room
15'10" × 15'8"
Main Floor
Bedroom
11'10" × 11'8"
Main Floor
Bedroom
11'3" × 8'2"
Main Floor
Bedroom
11'10" × 8'1"
Basement
Living Room
23'8" × 14'9"
Basement
Den
10'11" × 10'11"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
Basement
No
3
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks
Interior Features:
See Remarks, Separate Entrance
Exterior Features:
None
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Pie Shaped Lot
Num. of Parcels:
0
Fencing:
Partial
Region:
Calgary
Zone:
CAL Zone W
Zoning:
R-CG
Listed Date:
Oct 25, 2024
Days on Mkt:
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    This bedroom is being used for laundry
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Listed by Stonemere Real Estate Solutions
Data was last updated November 13, 2024 at 12:05 AM (UTC)
Area Statistics
Listings on market:
13
Avg list price:
$749,900
Min list price:
$189,900
Max list price:
$1,100,000
Avg days on market:
41
Min days on market:
1
Max days on market:
84
Avg price per sq.ft.:
$510.16
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