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

Great Starter Home Or Investment Property In Creekside Now Available. Mobile Has Fantastic Location Of Being Situated On Double Lot In Cul-De-Sac That Allows More Room Than Most Properties In The Subdivision. Home Has Been Taken Very Good Care Of And Features Bright Open Concept Layout With Large Windows, Ample Space In Living Room And Lots Of Room In The Kitchen / Dining Room To Host Family And Friends. One End Has Three Good Sized Bedrooms + Full Bathroom To Allow A Family To Grow Into, And Then On Opposite Side Features Large Master Bedroom With Walk-In Closet And 3 Piece Ensuite. Yard Is Extra Big Vs Surrounding Homes As It Is On A Double Lot, Giving The Yard An Amazing Sense Of Space And Privacy To Enjoy The Outdoors. (Id:23934)
CALL1.877.896.6727
Property Price
$199,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$9,995
Mortgage Insurance ($)
$7,596
Mortgage Required ($)
$197,501
Best Mortgage Rate (%)
1.45%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$90
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$11,585
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$11,585
Monthly Payment
$785
Welcome To Country Club Estates Condominiums! This Top Floor Corner Suite Has Street Level Access And Is Very Close To The Main Entrance; Bonus No Stairs. Enjoy Beautiful Views Of The Coulees & River Valley From The Large Covered Deck While You Have Your Morning Coffee. This Unit Offers 1,807 Square Feet Of Open Living Space With 2 Good Size Bedrooms & 2 Bathrooms. The Oversized Living Room Has A Cozy Wood Burning Fireplace And Beautiful Natural Light Coming In From The Large Sliding Patio Doors Leading Out To The Spacious Covered Deck. The U-Shaped Kitchen Includes Stainless Steel Appliances, Breakfast Nook With Eat Up Bar Plus A Full Size Dining Room Open Concept To The Living Room And Kitchen. The Master Bedroom Is Highlighted By A 3 Piece Ensuite, Walk-In Closet And Private Access To The Deck! Down The Hall You Will Find A Second Bedroom & Second Bathroom, With Great Views From The Bedroom Window. Washer And Dryer Are Included In The In-Suite Laundry Room With Lots Of Storage Space. High Efficient Furnace And Central Air Conditioner Were Installed In 2019 Assisting In Keeping The Average Monthly Utilities At Approximately $160 / Month. Monthly Condo Fees Are $272 Which Include Exterior Maintenance, Snow Removal, & Exterior Insurance. 2 Assigned Parking Stalls With Plug-Ins Are Included With The Unit, Which Are Conveniently Located Close To The Main Entry. Close To Amenities, Walking Trails, Golf Course, Parks And Public Transit, This Condo Is A Great Option For Anyone Looking To Downsize. Add This Property To Your "Must-See" List And Call Today For A Private Tour. Quick Possession Available (Id:23934)
CALL1.877.896.6727
Property Price
$269,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$13,495
Mortgage Insurance ($)
$10,256
Mortgage Required ($)
$266,661
Best Mortgage Rate (%)
1.45%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$104
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$15,099
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$15,099
Monthly Payment
$1,060
Wonderfully Upgraded Bungalow On A Quiet Street With A Massive Yard In Sherwood Heights. Exterior Has Been Beautifully Renovated With New: Porch / Pergola, Triple-Pane Windows, Siding, Soffits / Fascia, Trim, Lighting And Landscaping! Inside Is Loaded With Upgrades As Well Including New: Flooring, Paint, Appliances, Lighting, Countertops, Pantry, Bar, Backsplash, Shiplap And Patio Doors! Best Of All The Main Wall Has Been Removed Creating An Open-Concept Living Space With An Exposed Beam! Big Bright Windows Letting In Tons Of Natural Light On The Main Level Accompanied With A Gorgeous Kitchen! 3 Large Bedrooms And A 4-Piece Bath With Brand New Tile Floors Upstairs. Downstairs Is A Second Kitchen To Help With The Mortgage Or Rent Out To A Family Member, As Well As A 4Th Very Large Bedroom And Another 4 Piece Bath. Out-Front Is Quiet Street With No Through-Traffic. In The Back Is A Huge Yard Perfect For Family Or Entertaining Friends. Tons Of Space To Build A Garage In The Future. Incredible Home In A Prime Location! (Id:23934)
CALL1.877.896.6727
Property Price
$379,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$18,995
Mortgage Insurance ($)
$14,436
Mortgage Required ($)
$375,341
Best Mortgage Rate (%)
1.45%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$126
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$20,621
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$20,621
Monthly Payment
$1,492
This Is One Of A Kind! Backing Onto Green Belt With Complete Privacy, This Walkout Baseent Townhome Has It All! Next To The Amazing Trail System Here In St. Albert With Fountain Park Pool A Short Walk Away... This Home Has Lots To Offer! Renovated Top To Bottom! In Addition To Backing Onto The Green Space, This Home Has An Open Concept Living / Dining & A Spacious Ultra Modern Kitchen. Warm Colors Makes This Space Very Homey! The Second Floor Offers 3 Good Size Bedrooms & Full Renovated Beautiful Bathroom. When You Head Back Downstairs Into The Basement You Will Find A Large Multipurpose Room Plus 4Th Bedroom. This Is Where The Older Kids Can Hang Out & Play Their Video Games...Or Turn This Into That Yoga Room You Have Always Dreamed Of. This Basement Is Perfect For Your Extra Space Or The Teenager Who Is Enjoying Staying At Home. This Home Is Full Of Possibilities For You To Make It Fit Your Needs! Undercover Parking Plus Extra Available! (Id:23934)
CALL1.877.896.6727
Property Price
$229,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$11,495
Mortgage Insurance ($)
$8,736
Mortgage Required ($)
$227,141
Best Mortgage Rate (%)
1.45%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$96
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$13,091
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$13,091
Monthly Payment
$903
Once In Awhile A Really Nice Home Comes On The Market In A Really Nice Neighborhood. Located In A Quiet Area Of Varsity Village, You Will Find This 1314 Sf Bungalow Nestled In A Low Maintenance Mature Lot. The Home Features 4 Bedrooms And 3 Bathrooms And A Fully Developed Basement. The Kitchen Is Fabulous With Country Cupboards And An Island With A Built In Stove. The Dining Room French Doors Open Up To A Fully Enclosed Patio That Is Great When You Have Extra Guests. The Primary Bedroom Has A Dressing Room With Built In Dressers And Walk In Closet And You Will Totally Fall In Love With The Ensuite. The Walk In Shower With Glass Bricks And Double Vanity Sinks Are So Nice!! Patio Doors Also Lead Out To A Hot Tub Room. Downstairs Is All Developed With Family Room, Recreation Room, 2 Bedrooms And A Bathroom. This Home Has An Attached Garage, Air Conditioner And Has Been Freshly Painted. Homes Are Selling Fast So Book A Showing With Your Realtor Today!! (Id:23934)
CALL1.877.896.6727
Property Price
$309,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$15,450
Mortgage Insurance ($)
$11,742
Mortgage Required ($)
$305,292
Best Mortgage Rate (%)
1.45%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$112
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$17,062
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$17,062
Monthly Payment
$1,213

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.