Alberta Mortgage Calculator

?
Enter the amount that you are planning on paying for the property
Property Value
STEP 1
Enter property purchase price
Haven't found a property to purchase yet?
Option #1
Option #2
Option #3
Option #4
?
Enter the amount that you will pay upfront
toward the property to obtain a mortgage
Down Payment
?
CMHC mortgage insurance is required on all
mortgages with down payment less than 20%
Mortgage Insurance
+
$19,000
$13,950
$11,900
$0.00
?
Total mortgage amount is calculated by subtracting
the down payment from the property price and adding
CMHC mortgage insurance (if applicable)
Mortgage Required
=
$494,000
$463,950
$436,900
$400,000
?
Amortization period is length of time that it would take
the mortgage holder to pay off the mortgage in full
Amortization Period
?
Please select the province where you are planning
on taking out the mortgage, as mortgage rates can
vary in different provinces
Select Province
STEP 2
Select province to get current
mortgage rates
?
Mortgage type specifies whether the interest
rate is variable or fixed
Mortgage Type
?
Mortgage term is the duration of time that you
are committed to a lender, rate and conditions
Mortgage Term
?
Mortgage rate is the interest rate that you will
be paying on the outstanding balance for the
duration of the mortgage term
Mortgage Rate
Select
Select
Select
Select
STEP 3
Select one of the mortgage
rates currently available
?
Please select how often you would like
to make your mortgage payments.
Payment Frequency
?
Mortgage payment is the amount that you will be
required to pay based on your mortgage terms
Mortgage Payment
?
This is an estimate of how much you should expect
to spend upfront in order to make this purchase
Cash Needed
Down Payment
$25,000
$50,000
$75,000
$100,000
Mortgage Insurance PST
+
$0
$0
$0
$0
Lawyer Fee
+
$1,000
$1,000
$1,000
$1,000
Title Insurance
+
$500
$500
$500
$500
Land Transfer Tax
+
Total Cash Needed
=
$28,020*
$52,616*
$77,457*
$101,500*
* Plus Land Transfer Tax, please select Alberta city to calculate Land Transfer Tax

Contact Us

First Name
Last Name
Email
Phone
Message (Optional)
OR CALL
1.877.896.6727

Alberta Mortgage Examples

Close To Schools And Leisure Centre, This Home Features An Open, Bright Kitchen With Tons Of Cabinet And Countertop Space. Finished Basement With Bathroom And Bedroom. Side Entrance Can Be Used As A Separate Entrance For Basement If Desired. There's Also The Option For Main Floor Laundry And / Or Basement Laundry! High Efficiency Furnace! There Are Some Newer Pvc Windows As Well As Newer Laminate Flooring. Rv Parking! The Insulated Cold Storage Room In The Basement Is Just One Of The Many Storage Option Areas In This Home. The Back And Front Yards Are Landscaped With Flowers And Fruit Trees. The Single Detached Garage Is Large Enough For A Car And Workshop! The Garage Has A Heater But Has Not Been Used In Quite Some Time. (Id:23934)
CALL1.877.896.6727
Property Price
$222,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$11,145
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$95
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$12,740
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$12,740
Monthly Payment
$985
Beautiful Unit With A West Facing Deck That Backs On To A Beautiful Green Space With Views Of The Canals! This Will Surely Impress!! Sought After Location In The Canals. Walking Distance To Schools, Shopping And Several Restaurants. Home Has An Open Floor Plan With Oak Laminate Flooring That's Perfect For Entertaining. Two Very Large Bedrooms Separated By The Upper Loft That Is Large Enough To Be A Great Office Or A Tv Room. The Open Layout Of The Almost Finished Basement Could Be A Great Family Room Or An Additional Bedroom, Whatever Your Heart Desires. The Drywalled And Insulated Single Attached Garage Is Ready To Keep Your Car Free Of Snow This Winter. This Place Shows Very Well And Needs To Be Put On Your List Of Properties To View. (Id:23934)
CALL1.877.896.6727
Property Price
$234,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$11,745
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$97
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$13,342
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$13,342
Monthly Payment
$1,038
Located On The Top Floor, This 2 Bedroom Condo Faces The Trees And River Valley. Other Features Include A Spacious Living Room With Corner Fireplace And Access To The Balcony, A Walk Thru Galley Kitchen With Stainless Steel Appliances, A Large Master Bedroom With Walk In Closet And Additional Storage, 1 Assigned Underground Heating Parking Stall And Much More. Available For Immediate This Unit Is A Must To View. (Id:23934)
CALL1.877.896.6727
Property Price
$124,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$6,245
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$75
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$7,820
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$7,820
Monthly Payment
$552
Investor Alert! Don't Miss Out On This Fantastic Property In Mission Park! Excellent Location Close To Schools, Shopping, And The Eastlink Center! This Up / Down Duplex Features A Spacious Upper Unit With 3 Beds, 1 Bath And In Suite Laundry. Enjoy Modern Paint Colors, An Open Concept Plan And A Deck. The Downstairs Unit Is Well Done With A Separate Entrance, 2 Bedrooms, Functional Kitchen And Living Space, And Separate Laundry. The Property Features Baseboard Heating In Basement, Two Hot Water Tanks And 4 Parking Stalls With A Shed And Rear Alley Access. It Is Fenced, Landscaped And Ready For New Owners! Move In Upstairs And Rent Out The Basement Or Add This Great Property To Your Investment Portfolio! Book Your Showing Today! (Id:23934)
CALL1.877.896.6727
Property Price
$350,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$17,500
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$120
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$19,120
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$19,120
Monthly Payment
$1,547
Nestled In A Private Cul-De-Sac This 55+ Complex Is Immaculate. Snow Removal & Lawn Care Included- More Time To Enjoy The Finer Things. Soaring 12 Foot Ceilings & Lots Of Natural Light This 1471 Square Ft Bungalow Has An Open Feel With Plenty Of Space To Show Off Your Culinary Skills In The Formal Dining Room. The Kitchen Opens Up To The Great Room With 2-Sided Gas Fp, Dark Maple Cabinets, Granite, And A Nook With Access To Deck & Private Back Yard. 1 Bedroom Plus A Den On The Main Floor With 2 Full Baths. The Bsmnt Has Been Renod With Kitchen Craft Cabinets, Quartz Ct, Dry Bar With Wine Cooler, And A Modern Electric Fp, 9 Ft Ceilings, Two Large Bdrms, A 4 Piece Bath & Plenty Of Storage Space. This Home Has Air-Condiotional, High Effic. Furnace, Brand New Built In Vac System, Wired For Surround Sound. No Need To Worry About Downsizing Car Or Tool Collections As There Is A Triple Attach,Heated Garage With Workbench Area & Storage. Just Steps To Dixons Pond & Walking Trails, Easy Access Ray Gibbon Drive & Henday. (Id:23934)
CALL1.877.896.6727
Property Price
$544,900
Minimum Down Payment (%)
5.41%
Minimum Down Payment ($)
$29,490
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$159
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$31,149
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$31,149
Monthly Payment
$2,399

Mortgages In Alberta

The world's largest dinosaur-related deposits (Dinosaur Provincial Park is designated as a UNESCO World Heritage Site) are just the beginning of the incredible assortment of interesting aspects of Alberta! You may already know about the mountain ranges & rivers that serves up 'stop you in your tracks' scenic beauty and countless outdoor recreational outlets, but it is the lower-key and intricate bits that makes this province so amazing (the very first wild life sanctuary in Canada was established here, the purest oil discovered in Canada was (and still is) here, in-depth measures have been taken to be a rat-free province & the largest shopping centre in Canada was built here, just to name a few)! The housing types found here are incredibly diverse with homes scaling down from mansions with large estate properties to larger executive style homes to multi-level dwellings to chalets & cottages to small cozy cabins. The MLS listings will provide you with immediate insight as to what homes are currently for sale, and the Alberta mortgage calculator can help to pinpoint affordability. If you are not familiar with how a mortgage calculator functions and how it can benefit you, the easiest way to understand is to locate this calculator on your banking website. You will see that only basic information is needed, such as the mortgage principal amount, the expected interest rate, the start date, and the number of years you plan to carry the loan will give you a monthly payment amount figure.
You may have heard the term 'Alberta Strong', which tends to refer to the rugged terrain throughout the forests, and the people that take advantage of the numerous outdoor opportunities that are here (white water rafting, fishing, camping, hunting, canoeing & kayaking, hiking, cycling, horseback riding, snow-related activities, rock climbing, cave tours, and so much more). There are just as many indoor opportunities for you and your family to explore too, such as art & culture venues, zoos, heritage parks & more. Whether you are a seasoned home buyer or new to the mortgage market, you will find that a mortgage calculator and other types of calculators will be more than a big help to finding out how much a home may cost you each month and annually. Working through some research in advance of speaking to a mortgage lender can also be a proactive way to launch yourself into the next few steps to purchasing your home. You may or may not be familiar with the ranging number of mortgage loan types, which are easily broken down to ascertain which mortgage is going to work the best for you and the comfortability of your finances. If you do not have a specific lender in mind, then you will have that decision to make as well.
Obtaining a mortgage loan for your new home in Alberta will be with one lender, but which one? Banks have strict parameters that must be met to be approved, and other kinds of lenders may be more flexible, but they sometimes raise their interest rates. Lenders have a different 'formula' they work with (which is far more technical then a mortgage calculator) to work out the necessary pieces of information on a home, your finances to come up with your monthly payment amount with interest, and the performance of it (via a mortgage product). There are four 'lead' mortgage types: the adjustable rate mortgage (your interest rate is set to the prime rate, and your monthly payment amount may change periodically), the variable rate mortgage (also sets your interest rate to the prime rate, but any difference in the rate gets added to your principal, not your monthly rate), a fixed rate (locks your interest rate in for a term), and a hybrid (blending both the variable rate & fixed rate over the life of the mortgage). There are other mortgage products that are designed to work with you if you have owned a home before, currently have a mortgage, have equity built up in a home, or have a substantial down payment.