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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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4931 49 Street
Lougheed Lougheed T0B 2V0

$36,000
Residential beds: 1 baths: 1.0 776 sq. ft. built: 1930

Cottage Like Home!
Photo 1: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 2: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 3: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 4: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 5: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 6: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 7: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 8: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 9: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 10: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 11: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 12: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 13: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 14: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 15: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 16: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 17: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 18: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 19: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 20: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 21: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 22: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 23: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 24: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Photo 25: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2168550
Bedrooms:
1
Bathrooms:
1
Year Built:
1930
Looking to become a homeowner and not break the bank? This 775-square-foot home sits on a corner lot in the Village of Lougheed and has all the potential of a dream cottage. The home has had some updating throughout the years including; the hot water tank - in 2016, the furnace had a new motor and thermostat (2020), as well as being serviced in 2022, the roof was replaced with tin in 2019, the foundation was jacked up in 2017 and 6 new tele-posts were added to create a stable floor! The yard was fenced in 2022 to ensure the beautiful flower beds and garden are protected. The majority of the interior of the home has had a vapor barrier added, and the new drywall added is a fire-guard drywall! This home has hardwood flooring throughout - blonde oak and maple - giving this home the charm and rustic feel! Walking into the home, you are greeted with the good-sized living room that features a wood-burning stove, AND this home comes with wood sheds that have about 3 cords of wood- keeping you warm all winter and the bills lower! Through the living room, you enter the kitchen, which has so much potential to become whatever you want! There is access to the side of the house that is currently being used for wood storage, but it could be converted into a pantry or the side entry. The bathroom has vintage black and white floor tile - which is all the rage now! There is a large storage/laundry room that is large enough to add an office space! Access to the basement is through the trap door in the kitchen, which is currently used for storage and houses the furnace and hot water tank! The Primary bedroom has lots of character- including the stained glass window (currently covered to protect it from the elements) - the bedroom has some exposed brick and a new vinyl window; OSB has been added to the walls for stability, and the room is draft proof. The yard has had an extensive overhaul with dozens of trees cut down, a 32-yard vegetable garden put in, a shed (new in 2020), a fence, raspberry patches, and flower beds with perennial flowers - giving you a tranquil space to relax and harvest your food! You will be impressed with the fenced yard, AND the garden is also fenced off from the yard itself - keeping kids and animals out!
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:
775.91 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
6,000 sq. ft.
Lot Frontage:
50'
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:
West
Reg. Size:
Reg. Size Includes:
Unit Exposure:
West
Levels:
One
Total Rooms Above Grade:
3
Year built:
1930 (Age: 94)
Bedrooms:
1 (Above Grd: 1)
Bedrooms Above Grade:
1
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
RN69
Electricity:
Single Phase
Heating:
Forced Air, Natural Gas
Basement:
Partial, Unfinished
Foundation:
Other
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
House
Roof:
Metal
Ensuite:
No
Flooring:
Hardwood
Cooling:
None
Fireplaces:
1
Fireplace Details:
Free Standing, Living Room, Wood Burning Stove
Water Supply:
Public
Sewer:
Public Sewer
Utilities:
Electricity Connected, Natural Gas Connected, Garbage Collection, Sewer Connected, Water Connected
Garage:
0
Parking:
Gravel Driveway, Off Street, Parking Pad, RV Access/Parking
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Electric Dryer Hookup, Main Level, None, Washer Hookup
Lougheed
Electric Stove, Window Coverings
Wood Sheds with wood, Shed
None Known
Floor
Type
Size
Other
Main Floor
Living Room
13'8" × 13'
Main Floor
Bedroom - Primary
13'1" × 11'4"
Main Floor
Kitchen With Eating Area
13'6" × 12'3"
Main Floor
Laundry
11'4" × 7'9"
Main Floor
Entrance
5'5" × 4'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Fishing, Park, Playground, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Natural Woodwork, Storage
Exterior Features:
Garden, Private Yard, Storage
Patio And Porch Features:
None
Lot Features:
Back Lane, Back Yard, Corner Lot, Fruit Trees/Shrub(s), Few Trees, Garden
Num. of Parcels:
0
Outbuildings:
Shed
Fencing:
Fenced
Region:
Flagstaff County
Zoning:
R
Listed Date:
Sep 25, 2024
Days on Mkt:
  • Photo 1: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Cottage Like Home!
  • Photo 2: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Beautiful Flower Beds!
  • Photo 3: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Photo 3 of 25
  • Photo 4: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Photo 4 of 25
  • Photo 5: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    2020 Shed
  • Photo 6: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
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  • Photo 7: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
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  • Photo 8: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Photo 8 of 25
  • Photo 9: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Photo 9 of 25
  • Photo 10: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Photo 10 of 25
  • Photo 11: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Wood Sheds with wood
  • Photo 12: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Photo 12 of 25
  • Photo 13: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Photo 13 of 25
  • Photo 14: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Photo 14 of 25
  • Photo 15: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Living Room with woodburning stove
  • Photo 16: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Hardwood Flooring
  • Photo 17: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Bedroom
  • Photo 18: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Bedroom view 2
  • Photo 19: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Eat in kitchen
  • Photo 20: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Kitchen
  • Photo 21: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Back porch
  • Photo 22: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Bathroom
  • Photo 23: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Storage/laundry area
  • Photo 24: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Storage/Laundry area
  • Photo 25: 4931 49 Street: Lougheed Detached for sale : MLS®# A2168550
    Photo 25 of 25
Listed by Coldwell Banker Battle River Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Diane Richardson
Cell: 403-397-3706