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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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419 2nd Street SE
Central High River High River T1V 1G8

$390,000
Residential beds: 6 baths: 2.0 1,584 sq. ft. built: 1972

Main Photo: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 1: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 2: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 3: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 4: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 5: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
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Photo 8: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 9: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 10: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
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Photo 12: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 13: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 14: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 15: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 16: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 17: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 18: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 19: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Photo 20: 419 2nd Street SE: High River Detached for sale : MLS®# A2168960
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2168960
Bedrooms:
6
Bathrooms:
2
Year Built:
1972
Welcome to 419 2nd street, the perfect home for a first time buyer, or an investor to add to their portfolio. This home features 6 bedrooms, an attached two car garage, and is situated on two large lots in a desirable part of town. It has an open, recently renovated kitchen that naturally flows into the dining room and living room. With large windows and an east porch, there will be plenty of natural lighting for those lazy Saturday mornings. The basement has been completely cleared, leaving you with a blank slate to let your imagination run wild. Come and take a look as this property won't last long!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
4 Level Split
Total Living Area:
1,584 sq. ft.
Main Level Finished Area:
888 sq. ft.
Upper Level Finished Area:
696 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
6,800 sq. ft.
Lot Frontage:
49'3"
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:
Unit Exposure:
South
Levels:
4 Level Split
Total Rooms Above Grade:
9
Year built:
1972 (Age: 52)
Bedrooms:
6 (Above Grd: 6)
Bedrooms Above Grade:
6
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
2151s
Heating:
Forced Air, Natural Gas
Basement:
Partial, Unfinished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Concrete, Vinyl Siding, Wood Frame, Wood Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Laminate
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached, Off Street
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Main Level
Central High River
Dishwasher, Electric Stove, Range Hood, Refrigerator, Washer/Dryer, Window Coverings
none
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
12' × 11'6"
Main Floor
Bedroom
10'6" × 9'6"
Main Floor
Dining Room
13' × 12'
Main Floor
Kitchen
13'6" × 8'10"
Main Floor
Living Room
12'6" × 12'
Upper Level
Bedroom - Primary
13' × 12'6"
Upper Level
Bedroom
13' × 12'6"
Upper Level
Bedroom
8'6" × 8'
Upper Level
Bedroom
8'6" × 7'6"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
8'6" x 8'6"
Upper Level
No
3
7'6" x 8'6"
Title to Land:
Fee Simple
Community Features:
Playground, Schools Nearby, Sidewalks, Walking/Bike Paths
Interior Features:
Open Floorplan, Pantry, Separate Entrance
Exterior Features:
Other
Patio And Porch Features:
Deck
Lot Features:
Corner Lot
Num. of Parcels:
0
Fencing:
Partial
Region:
Foothills County
Zoning:
TND
Listed Date:
Sep 26, 2024
Days on Mkt:
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Listed by Century 21 Foothills Real Estate
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
28
Avg list price:
$557,000
Min list price:
$274,900
Max list price:
$1,500,000
Avg days on market:
55
Min days on market:
1
Max days on market:
166
Avg price per sq.ft.:
$343.3
These statistics are generated based on the current listing's property type and located in High River. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706