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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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53 Willow Road
Harvest Meadows Blackfalds T4M 0J2

$300,000
Residential beds: 4 baths: 4.0 1,436 sq. ft. built: 2018

SOLD OVER THE LISTING PRICE!
Main Photo: 53 Willow Road: Blackfalds Row/Townhouse for sale : MLS®# A2117149
Photo 1: 53 Willow Road: Blackfalds Row/Townhouse for sale : MLS®# A2117149
Photo 2: 53 Willow Road: Blackfalds Row/Townhouse for sale : MLS®# A2117149
Photo 3: 53 Willow Road: Blackfalds Row/Townhouse for sale : MLS®# A2117149
Photo 4: 53 Willow Road: Blackfalds Row/Townhouse for sale : MLS®# A2117149
Photo 5: 53 Willow Road: Blackfalds Row/Townhouse for sale : MLS®# A2117149
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Photo 32: 53 Willow Road: Blackfalds Row/Townhouse for sale : MLS®# A2117149
Photo 33: 53 Willow Road: Blackfalds Row/Townhouse for sale : MLS®# A2117149
Status:
Sold
Sold Date:
Jun 28, 2024
Listed Price:
$299,900
Sold Price:
$300,000
Sold in:
98 days
Prop. Type:
Residential
MLS® Num:
A2117149
Bedrooms:
4
Bathrooms:
4
Year Built:
2018
Pay No Condo Fees for 6 MONTHS! Check out this beautiful home in the new Harvest Meadows subdivision of Blackfalds. This 2 storey condo has lots of room for the whole family! The main floor has an open concept design offering a spacious entry, door to the attached single garage, 2 pc bathroom, a user friendly kitchen offering lots of cupboards and counter space & stainless steel appliances. The kitchen is open to the dining area and living room. Garden door off the dining to the east facing back yard with nice deck. The second floor offers 3 bedrooms with a 4 pc en-suite & walk in closet off the primary bedroom. Another full bathroom services the other 2 bedrooms. Finishing off the upper floor is the laundry area. In the fully finished basement you will find another bedroom, full bathroom, tv area, mechanical room and LARGE storage room. This home has something to offer everyone in your family! Pets are allowed (with some restrictions).
Property Type:
Residential
Property Sub Type:
Row/Townhouse
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Immediate
Suite:
No
Home Style:
2 Storey
Total Living Area:
1,436 sq. ft.
Taxes:
$2,476 / 2023
Tax Assessed Value:
240580.0
Condo Fee:
$320.00
Condo Fee Includes:
Common Area Maintenance, Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Snow Removal
Lot Area:
2,625 sq. ft.
Front Exposure:
West
Entry Level:
1
Levels:
Two
End Unit:
2+ Common Walls
Total Rooms Above Grade:
6
Year built:
2018 (Age: 6)
Bedrooms:
4
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
1820386
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Vinyl Siding, Wood Frame
Structure Type:
Four Plex
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Linoleum, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
1
Parking:
Single Garage Attached
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
Upper Level
Condo Fee Frequency:
Monthly
Z-name Not Listed
Harvest Meadows
None
Dishwasher, Dryer, Electric Stove, Microwave Hood Fan, Refrigerator, Washer
Garage Remote
Pet Restrictions or Board approval Required
Restrictions, Yes
Floor
Type
Size
Other
Main Floor
Entrance
6' × 5'9"
Main Floor
Kitchen
14'7" × 10'11"
Main Floor
Dinette
12'11" × 7'1"
Main Floor
Living Room
12'11" × 12'2"
2nd Floor
Bedroom - Primary
13'9" × 12'10"
2nd Floor
Bedroom
12'10" × 9'6"
2nd Floor
Bedroom
12'10" × 9'4"
Basement
Bedroom
13'9" × 12'6"
Basement
Family Room
14'6" × 10'2"
Basement
Furnace/Utility Room
12'6" × 5'6"
Basement
Storage
10'9" × 8'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
0' x 0'
2nd Floor
Yes
4
0' x 0'
2nd Floor
No
4
0' x 0'
Basement
No
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Park, Playground
Interior Features:
Kitchen Island, No Smoking Home, Pantry, Vinyl Windows
Exterior Features:
None
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Landscaped, Rectangular Lot
Num. of Parcels:
0
Fencing:
None
Region:
Lacombe County
Zoning:
R3
Listed Date:
Mar 22, 2024
Days on Mkt:
98
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Listed by Red Key Realty & Property Management
Data was last updated June 29, 2024 at 10:05 AM (UTC)
Diane Richardson
Cell: 403-397-3706