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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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5117 51 Avenue
N/A Berwyn T0H 0E0

$32,000
Residential beds: 3 baths: 1.0 1,203 sq. ft. built: 1974

Main Photo: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 1: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 2: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 3: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 4: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 5: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 6: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 7: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 8: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 9: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 10: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 11: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 12: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 13: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 14: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 15: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 16: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 17: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 18: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Photo 19: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2133223
Bedrooms:
3
Bathrooms:
1
Year Built:
1974
Great investment opportunity! This home is part of a small manufactured home park. The land and two homes are for sale individually (see MLS#'s A2133405 and A2132299) but with the sellers of all units ready to sell all units must sell at the same time. This listing is for the home located at 5117 51 Ave. The home itself has had some work done over the years including a large addition which is complete with a wood stove to reduce your heating costs. The front portion of the home is set up for additional wood storage which leads into a large entrance and continues into a large pantry area. The kitchen, living and dining area are all open concept allowing for a great space to gather. Beyond that is an bathroom which has seen some updates and 3 bedrooms. The back portion of the addition is set up for additional storage and a small garage area great for parking a small car or ATV. Outside the home you will find an established garden area and sheds for additional storage. Check out the 360 tour available in the media section, floor plans available in the photos section.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Double Wide Mobile Home
Total Living Area:
1,203 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
24,000 sq. ft.
Lot Frontage:
200'
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:
North
Reg. Size:
Reg. Size Includes:
Levels:
One
Total Rooms Above Grade:
5
Year built:
1974 (Age: 50)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
1909CL
Heating:
Forced Air, Natural Gas
Basement:
None
Foundation:
Block
New Constr.:
No
Construction Material:
Vinyl Siding
Structure Type:
Manufactured House
Roof:
Mixed
Ensuite:
No
Flooring:
Laminate, Linoleum
Cooling:
None
Fireplaces:
1
Fireplace Details:
Wood Burning Stove
Garage:
1
Garage Spaces:
1
Parking:
Parking Pad, Single Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
In Bathroom, Main Level
N/A
Electric Stove, Freezer, Refrigerator
wood stove, all sheds directly behind the home
None Known
Floor
Type
Size
Other
Main Floor
Living Room
16'10" × 13'1"
Main Floor
Kitchen With Eating Area
13'1" × 11'
Main Floor
Bedroom
9'10" × 6'9"
Main Floor
Bedroom
9'10" × 6'9"
Main Floor
Bedroom - Primary
13'1" × 12'7"
Main Floor
Pantry
11'3" × 9'3"
Main Floor
Porch - Enclosed
19'7" × 13'11"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
7'2" x 9'10"
Title to Land:
Fee Simple
Community Features:
Park, Schools Nearby
Interior Features:
Bar, Ceiling Fan(s)
Exterior Features:
Garden, Storage
Patio And Porch Features:
Enclosed, See Remarks
Lot Features:
Back Lane, Garden, Landscaped
Num. of Parcels:
0
Fencing:
None
Region:
Peace No. 135, M.D. of
Zoning:
Residential
Listed Date:
May 18, 2024
Days on Mkt:
  • Photo 1: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 1 of 19
  • Photo 2: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 2 of 19
  • Photo 3: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 3 of 19
  • Photo 4: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 4 of 19
  • Photo 5: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 5 of 19
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  • Photo 7: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 7 of 19
  • Photo 8: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 8 of 19
  • Photo 9: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 9 of 19
  • Photo 10: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 10 of 19
  • Photo 11: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 11 of 19
  • Photo 12: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 12 of 19
  • Photo 13: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 13 of 19
  • Photo 14: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 14 of 19
  • Photo 15: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 15 of 19
  • Photo 16: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Photo 16 of 19
  • Photo 17: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Wood stove
  • Photo 18: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Wood storage
  • Photo 19: 5117 51 Avenue: Berwyn Detached for sale : MLS®# A2133223
    Floor Plans
Listed by RE/MAX Northern Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
12
Avg list price:
$136,400
Min list price:
$32,000
Max list price:
$229,000
Avg days on market:
112
Min days on market:
12
Max days on market:
468
Avg price per sq.ft.:
$138.79
These statistics are generated based on the current listing's property type and located in Berwyn. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706