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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.

  3. Email Address: Reach out to me at Diane for any inquiries or to request additional information.

  4. Live Chat: Utilize the live chat feature on my website for real-time communication and immediate answers to your questions.

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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5401 & 5403 South Street
Blackfalds - Other Blackfalds T0M 0J0

$375,000
Land

Main Photo: 5401 & 5403 South Street: Blackfalds Industrial Land for sale : MLS®# A2118386
Photo 1: 5401 & 5403 South Street: Blackfalds Industrial Land for sale : MLS®# A2118386
Photo 2: 5401 & 5403 South Street: Blackfalds Industrial Land for sale : MLS®# A2118386
Photo 3: 5401 & 5403 South Street: Blackfalds Industrial Land for sale : MLS®# A2118386
Photo 4: 5401 & 5403 South Street: Blackfalds Industrial Land for sale : MLS®# A2118386
Photo 5: 5401 & 5403 South Street: Blackfalds Industrial Land for sale : MLS®# A2118386
Photo 6: 5401 & 5403 South Street: Blackfalds Industrial Land for sale : MLS®# A2118386
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Photo 8: 5401 & 5403 South Street: Blackfalds Industrial Land for sale : MLS®# A2118386
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Photo 12: 5401 & 5403 South Street: Blackfalds Industrial Land for sale : MLS®# A2118386
Photo 13: 5401 & 5403 South Street: Blackfalds Industrial Land for sale : MLS®# A2118386
Status:
Active
Prop. Type:
Land
MLS® Num:
A2118386
2 – 1.5 acre lots zoned Industrial Heavy in the beautiful town of Blackfalds. Being sold as 1 – 3-acre parcel located 1/2 block east of Highway 2A, right next to the Cosmos Bottle Depot on the south end of Blackfalds. Great access to Highway 2A, Highway 597 and Highway 2. Current owner has had the land stripped and mostly graded. Fully serviced with services along the property lines. The overall parcel is approximately 360’ by 360’. The I-2 zoning is To provide an area for heavy industrial uses and other uses.
Property Type:
Land
Property Sub Type:
Industrial Land
Transaction Type:
For Sale
Possession:
Possession Date:
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
3 acre(s)
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:
Reg. Size:
Reg. Size Includes:
Bathrooms:
- (Full:-, Half:-)
Plan:
1320650
Ensuite:
No
Garage:
0
Blackfalds - Other
Land Only
None Known
Title to Land:
Fee Simple
Lot Features:
City Lot, Standard Shaped Lot, Rectangular Lot
Num. of Parcels:
0
Fencing:
None
Region:
Lacombe County
Zoning:
I-2
Listed Date:
Apr 01, 2024
Days on Mkt:
  • Photo 1: 5401 & 5403 South Street: Blackfalds Industrial Land for sale : MLS®# A2118386
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Listed by RE/MAX real estate central alberta - Innisfail
Data was last updated July 1, 2024 at 02:05 PM (UTC)
Area Statistics
Listings on market:
15
Avg list price:
$174,090
Min list price:
$88,500
Max list price:
$4,800,000
Avg days on market:
91
Min days on market:
24
Max days on market:
729
These statistics are generated based on the current listing's property type and located in Blackfalds. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706