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 Calculator Examples

This Well Maintained Upgraded Bi- Level Is Situated On A Large Corner Lot In South Patterson. Featuring 4 Bedrooms, 3 Bathrooms, An Open Concept Floor Plan, Modern Color Throughout, A Cozy Wood Burning Fireplace In Living Room, Lovely White Cabinets In Kitchen, Island With Seating Plus Access To The Backyard From Dining Area. To Complete The Main Level There Are Two Great Size Bedrooms, A 4 Piece Bathroom And The Master Bedroom Offers A 3Pc Ensuite. Downstairs Is Fully Developed Into A Large Family Room, Flex Area (Room For A Pool Table Or Kids Play Area If Desired), An Additional Bedroom That Adjoins To The 3Pc Bathroom And Laundry Room. The South Facing Backyard Is Fully Landscaped And Backs Onto An Easement For Added Privacy. The Double Heated Garage With Room For Rv Parking Completes This Home Perfectly. Some Recent Upgrades Include: New Home Shingles (2.5 Weeks Ago), Garage Shingles Are Approx 2.5 Yrs Ago, Newer Deck, Newer Cabinets, Newer Upstairs Windows, Newer Paint, Newer Applainces, Flooring, And Trim. Close To Shopping Amenities, School, And Restaurants. This Home Would Make For A Great Started Home And Is Sure To Impress. Book Your Showing Today. (Id:23934)
CALL1.877.896.6727
Property Price
$332,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$16,645
Mortgage Insurance ($)
$12,650
Mortgage Required ($)
$328,905
Best Mortgage Rate (%)
1.30%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$117
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$18,262
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$18,262
Monthly Payment
$1,284
Top Floor With Court Yard View With Over A 1,000 Square / Ft Ogf Living Space In This 2 Bedroom, 1 Bath Adult Only (55+) Condominium In Shepherd's Place. This Home Features An Open Concept Living, Dining & Kitchen With The East Morning Sun Pouring Into This Open Space. The Kitchen Has Gleaming White Cabinets With Ample Work & Storage Space Including A Pantry & The Dining Area Has Plenty Of Wall Space For A China Cabinet. The Primary Bedroom Is Super Sized Measuring Out At 16'X14' Not Including The Walk In Closet Which Is Over 9' Deep, The 2Nd Bedroom Is Also Very Generous In Size Measuring Out At 12'X11'. The In-Suite Laundry And Storage Room Provides A Great Space To Store Those Seasonal Decorations & Clothing. The 4 Piece Bath Is Designed For Ease Of Movement. The East Facing Top Floor Balcony Gives You A Great View Of The Interior Courtyard With It's Numerous Amenities. The Building Offers Numerous Social Features And There Is The Option To Access Additional Assistance Including Meals From Sherperd's Care. (Id:23934)
CALL1.877.896.6727
Property Price
$174,800
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$8,740
Mortgage Insurance ($)
$6,642
Mortgage Required ($)
$172,702
Best Mortgage Rate (%)
1.30%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$85
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$10,325
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$10,325
Monthly Payment
$674
Great Location Great Price And No Condo Fees, Located In The Heart Of Thickwood Heights Close To Schools Shopping And The Bus Routes And All Other Ammenties Sits The Fully Developed Town House In A Quiet Cul De Sac. This Picture Perfect Starter Home Awaites New Owners. The Property Features Large Eat In Kitchen With Maple Cabinets And Custome Back Splash, Nice Bright White Appliances And Tile Flooring, Adjacent To That Is The Spacous Livingroom With Hard Wood Flooring. Upstairs Is The Large Master Bed Room With A Newly Renovated 4 Piece Bath Room And A Balcony The Perfect Place To Have Your Morning Coffee And Watch The Sun Rise. The Basement Features A Storage Room With 2 More Bedrooms And Another 4 Piece Bathroom. The Fully Fenced Back Yard Has Parking For Two Vehicles And A Shed And Patio. The Roof Was Redone In 2017 And There Was A New Hot Water Tank Installed In August Of 2020. There Has Been Lots Of Renovations Over The Years And Pride In Ownership Is Very Apparent. (Id:23934)
CALL1.877.896.6727
Property Price
$264,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$13,245
Mortgage Insurance ($)
$10,066
Mortgage Required ($)
$261,721
Best Mortgage Rate (%)
1.30%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$103
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$14,848
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$14,848
Monthly Payment
$1,022
Are You Ready?! Perfectly Painted, Incredible Style, Modern Lights, Welcome To Your New Immaculate Home! Greeted By The Warm Inviting Front Veranda, Step Inside To Be In Awe Of The Open Concept Floor Plan. Bright And Spacious Living And Dining Area Makes It Easy To Entertain Your Friends And Family. Become A Chef In The Sparkling White Kitchen That Is Equipped With Stainless Steel Appliances, Eat-Up Kitchen Island, And Pantry. Upstairs You Will Find A Large Primary Bedroom With An Incredible Feature Wall, Walk In Closet, And En-Suite Bathroom. Down The Hall There Is The Laundry Area, Main Bath And Two More Good Sized Bedrooms. The Basement Was Professionally Finished By The Builder To Include A Large Recreation Room, A Fourth Bedroom, And Another Full Bathroom. New Gas Hot Water Tank, And Comes With Central Air Which Is Perfect For Those Hot Alberta Days. The Fully Fenced And Landscaped Backyard Has Ample Space For Families To Enjoy. Follow The Pathway Along The Garden That Leads To The Double Detached Garage. Located Only Steps Away From The Pond, Walking Paths And Schools! Don't Wait, Book Your Showing Today! (Id:23934)
CALL1.877.896.6727
Property Price
$405,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$20,250
Mortgage Insurance ($)
$15,390
Mortgage Required ($)
$400,140
Best Mortgage Rate (%)
1.30%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$131
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$21,881
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$21,881
Monthly Payment
$1,562
Honey Stop The Car Excellent Family Home Located On A Great Street Footsteps From The Community Center And Splash Park! Amazing Layout With A Open Concept Kitchen. Dining, Livingroom Areas With Lots Of Natural Light Modern Flooring And A Gorgeous Sleek White Kitchen With A Massive 4 Seater Island Perfect For Family Gatherings And Entertaining. Recently Updated Kitchen Features A Gas Stove, And Stainless Steel Appliances Plus A Spacious Corner Pantry And A Built In Water Line For Your Coffee Center! Main Floor Laundry, Mudroom And Powder Room Complete The Beautiful Main Level. Head On Upstairs To The Split Layout Featuring A Massive Bonus Room With Vaulted Ceiling Ideal For Family Nights And The Kids Play Area. The Deluxe Owners Suite Where A King Bedroom Suite Fits Perfectly, Spacious Walk-In Closet And A 4 Piece Spa Inspired En-Suite With A Jetted Tub! The Two Additional Bedrooms And Main Bathroom Are Roomy And Well Laid Out! The Fabulous Vinyl Deck And Outdoor Space Are Perfect For The Summer Months! Heated Garage Playcenter Stays!Close To All Amenities, Great Schools And Shopping! (Id:23934)
CALL1.877.896.6727
Property Price
$499,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$24,950
Mortgage Insurance ($)
$18,962
Mortgage Required ($)
$493,012
Best Mortgage Rate (%)
1.30%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$150
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$26,600
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$26,600
Monthly Payment
$1,925

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.