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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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256 Sirocco Place
Signal Hill Calgary T3H 2N3

$950,000
Residential beds: 4 baths: 3.0 1,833 sq. ft. built: 1989

Main Photo: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 1: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 2: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 3: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 4: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 5: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 6: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 7: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 8: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 9: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 10: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 11: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 12: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 13: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 14: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 15: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 16: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 17: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 18: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 19: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 20: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 21: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 22: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 23: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 24: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 25: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Photo 26: 256 Sirocco Place in Calgary: Signal Hill Detached for sale : MLS®# A2131963
Status:
Sold
Sold Date:
Jun 21, 2024
Listed Price:
$975,000
Sold Price:
$950,000
Sold in:
38 days
Prop. Type:
Residential
MLS® Num:
A2131963
Bedrooms:
4
Bathrooms:
3
Year Built:
1989
Attention Investors and Buyers! Are you in the market for a spacious, nearly 3500 square feet bungalow nestled in a tranquil and picturesque double cul-de-sac? Look no further than 256 Sirocco Place SW, Calgary! This remarkable home boasts numerous upgrades, including a new dishwasher in 2023, refrigerator in 2022, radon system in 2022, water softener in 2022, RO water system in 2022, furnace in 2019, and basement renovation in 2022, which enhances the flooring and windows. Plus, the garage floor was treated with epoxy flooring in 2023. Situated on a generous lot size of 7258 square feet, the property features an easy-to-manage backyard garden, perfect for enjoying outdoor living without the hassle of extensive maintenance. Conveniently located just a 7-minute walk from the C-train station, this property offers easy access to amenities and is close to top-rated schools and recreational facilities. Don't miss out on the opportunity to see this dream home or investment in person. Schedule your viewing today and discover the charm of 256 Sirocco Place SW for yourself. Thank you for considering and visiting!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Immediate
Suite:
No
Home Style:
Bungalow
Total Living Area:
1,833.49 sq. ft.
Below Grade Finished Area:
1,730.94 sq. ft.
Taxes:
$5,855 / 2023
Lot Area:
7,158 sq. ft.
Lot Frontage:
7'10"
Front Exposure:
South
Levels:
One
Total Rooms Above Grade:
6
Year built:
1989 (Age: 35)
Bedrooms:
4
Bedrooms Above Grade:
2
Bedrooms Below Grade:
2
Bathrooms:
3.0 (Full:3, Half:0)
Plan:
8810155
Heating:
Fireplace(s), Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Concrete, Stucco, Wood Frame
Structure Type:
House
Roof:
Clay Tile
Ensuite:
Yes
Flooring:
Carpet, Hardwood, Vinyl
Cooling:
None
Fireplaces:
2
Fireplace Details:
Electric, Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached, Driveway, Heated Garage, Oversized
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Laundry Room
Signal Hill
Built-In Oven, Dishwasher, Garage Control(s), Garburator, Gas Stove, Microwave, Range Hood, Refrigerator, Washer/Dryer, Window Coverings
RO water system, Radon System
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
24'1" × 14'3"
Main Floor
Breakfast Nook
11'9" × 9'4"
Main Floor
Bedroom - Primary
19' × 14'6"
Main Floor
Bedroom
13'8" × 11'
Main Floor
Office
12'5" × 8'4"
Main Floor
Dining Room
12'11" × 11'10"
Main Floor
Living Room
20'6" × 16'6"
Basement
Game Room
24'9" × 23'6"
Basement
Bedroom
14'8" × 13'7"
Basement
Den
9'2" × 8'10"
Basement
Great Room
22'11" × 12'11"
Basement
Bedroom
10'8" × 10'6"
Basement
Furnace/Utility Room
24'8" × 16'1"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
11'4" x 6'2"
Main Floor
No
3
8' x 6'1"
Basement
No
4
10' x 5'1"
Title to Land:
Fee Simple
Community Features:
Golf, Park, Playground, Pool, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Closet Organizers, Kitchen Island, No Smoking Home, Open Floorplan, Walk-In Closet(s)
Exterior Features:
BBQ gas line, Garden
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Back Yard, Backs on to Park/Green Space, City Lot, Cul-De-Sac, Fruit Trees/Shrub(s), Front Yard, Garden, Low Maintenance Landscape, No Neighbours Behind, Landscaped, Street Lighting, Pie Shaped Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone W
Zoning:
R-C1
Listed Date:
May 14, 2024
Days on Mkt:
38
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Listed by Royal LePage Benchmark
Data was last updated June 27, 2024 at 10:05 AM (UTC)
Diane Richardson
Cell: 403-397-3706