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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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  2. Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

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When contacting me, please ensure to include the property address or MLS® number for the listing you are interested in. I look forward to hearing from you!

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643 Robinson Avenue
Palisades Penhold T0M 1R0

$529,900
Residential beds: 4 baths: 3.0 1,232 sq. ft. built: 2024

THIS WAS A PREVIOUS BUILD OF THIS FLOORPLAN, SUBJECT HOME WILL NOT BE THE SAME
Photo 1: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 2: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 3: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 4: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 5: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 6: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 7: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 8: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 9: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 10: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 11: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 12: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 13: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 14: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 15: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 16: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 17: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 18: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 19: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 20: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 21: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 22: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 23: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 24: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 25: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 26: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 27: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 28: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 29: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 30: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Photo 31: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2175211
Bedrooms:
4
Bathrooms:
3
Year Built:
2024
BRAND NEW BI-LEVEL BACKING ON TO A WETLAND RESERVE! Situated in the Palisades, just steps from playgrounds, schools, outdoor rinks, and more, this brand new Laebon build will be ready for possession in March 2025! The Montego is a 1232 sq ft bi-level offering a wide open main floor layout, an attached double garage, and a fully finished basement with a massive family room! The spacious living and dining room area are open to a modern kitchen with stunning raised cabinetry, quartz counter tops, stainless steel appliances, pantry, and an island with eating bar. The master suite features a private 4 pce ensuite and walk in closet, while a second bedroom and 4 pce bathroom complete the main floor space. The basement is fully finished with an oversized family room, two additional bedrooms, and a 4 pce bath. The front attached garage is fully insulated and paint ready, and front sod, rear topsoil to grade, and a poured concrete driveway are included and will be completed as weather permits. 1 year builder warranty and 10 year Alberta New Home Warranty are included. Taxes have yet to be assessed, and GST is included in the purchase price. Photos are examples from a previous built home of this floor plan, and do not necessarily reflect the finishes and colours used in this home.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bi-Level
Total Living Area:
1,232 sq. ft.
Main Level Finished Area:
1,232 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
822 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
4,781 sq. ft.
Lot Frontage:
42'2"
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:
Unit Exposure:
North, South
Levels:
Bi-Level
Total Rooms Above Grade:
5
Year built:
2024 (Age: 0)
Bedrooms:
4 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
2
Bathrooms:
3.0 (Full:3, Half:0)
Plan:
1420736
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
Builder:
Laebon Homes
New Constr.:
Yes
Construction Material:
Concrete, Stone, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Vinyl
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Concrete Driveway, Double Garage Attached, Garage Faces Front, Off Street
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
In Basement
Palisades
Dishwasher, Garage Control(s), Microwave Hood Fan, Refrigerator, Stove(s)
N/A
None Known
Floor
Type
Size
Other
Main Floor
Living Room
15'4" × 15'
Main Floor
Dining Room
12' × 10'3"
Main Floor
Kitchen
12'8" × 8'6"
Main Floor
Bedroom
12'11" × 9'6"
Main Floor
Bedroom - Primary
12'6" × 11'10"
Basement
Bedroom
12'5" × 9'10"
Basement
Bedroom
11'1" × 9'10"
Basement
Family Room
26'6" × 14'9"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
0' x 0'
Main Floor
Yes
4
0' x 0'
Basement
No
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Sidewalks, Street Lights
Interior Features:
Breakfast Bar, Closet Organizers, Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan, Pantry, Quartz Counters, Separate Entrance, Storage, Vinyl Windows, Walk-In Closet(s)
Exterior Features:
Private Entrance
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Front Yard, Interior Lot, No Neighbours Behind, Rectangular Lot
Num. of Parcels:
0
Fencing:
Partial
Region:
Red Deer County
Zoning:
R1-A
Listed Date:
Oct 24, 2024
Days on Mkt:
  • Photo 1: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    THIS WAS A PREVIOUS BUILD OF THIS FLOORPLAN, SUBJECT HOME WILL NOT BE THE SAME
  • Photo 2: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Selections
  • Photo 3: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 4: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 5: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 6: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 7: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 8: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 9: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 10: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 11: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 12: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 13: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 14: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 15: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 16: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 17: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 18: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 19: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 20: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 21: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 22: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 23: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 24: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 25: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 26: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 27: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 28: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 29: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Photos are examples from a previous built home of this floorplan, and do not necessarily reflect the finishes and colours used in this home
  • Photo 30: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Backing Onto a Wetland Reserve
  • Photo 31: 643 Robinson Avenue: Penhold Detached for sale : MLS®# A2175211
    Subdivision Map
Listed by RE/MAX real estate central alberta
Data was last updated November 14, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
17
Avg list price:
$350,000
Min list price:
$334,900
Max list price:
$685,000
Avg days on market:
21
Min days on market:
9
Max days on market:
114
Avg price per sq.ft.:
$246.83
These statistics are generated based on the current listing's property type and located in Penhold. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706