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

Beautifully Upgraded 4 Level Split Located On A Quiet Crescent In Akinsdale! Pride Of Ownership Is Evident From The Moment You Enter This Home. A Renovated Kitchen With Quartz Countertops, Full Height Cabinets, Stainless Steel Appliances And Cork Flooring Is The Centerpiece Of The Home But You'll Also Love The Living Room With Pot Lighting And A Wood Burning Fireplace. There Are 3 Bedrooms Upstairs Including A Large Primary Bedroom With An Upgraded 3 Piece Ensuite With A Large, Tiled Shower. All Bathrooms Have Been Completely Renovated! The Lower Level Has A 4Th Bedroom, A 3 Piece Bath And A Large Family Room! Recent Upgrades Include: Triple Pane Windows, Shingles, Flooring Throughout, Baseboards ,Central Air Conditioner And A Hi-Efficiency Furnace. A 24X26 Heated, Double Detached Garage Is Perfect For This Winter! (Id:23934)
CALL1.877.896.6727
Property Price
$399,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$19,995
Mortgage Insurance ($)
$15,196
Mortgage Required ($)
$395,101
Best Mortgage Rate (%)
1.69%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$130
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$21,625
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$21,625
Monthly Payment
$1,615
Welcome To Southwest Southridge. This Community Is Full Of Amazing Walking Trails, Young Families, Great Schools And Some Of The Best Playgrounds In Medicine Hat. I'm Excited To Introduce You To 3 Sundance Court Sw, A Walk-Out 2 Storey With 4 Bedrooms And 3.5 Baths. Inside You Will Find Over 2300 Square Feet Of Living Space, Perfect For Your Growing Family. Upstairs We Start With The Large Master Suite, With Jetted Tub And Walk In Closet As Well As Two Other Good Sized Bedrooms And A Main 4 Piece Bathroom. On Your Main Level You Will Find An Office Right Off The Front Entrance, With Multiple Living / Recreation Spaces And A Large Open Dining / Kitchen Area. Step Out Onto Your Large Back Deck With Some Amazing Views Of The Coulees. Downstairs You Will Find More Space For Your Family To Grow, With More Play Space And A Large Bedroom And 4 Piece Bathroom. Walk Out To Your Lower Level Covered Patio Area And Good Sized Yard With A Solid, Maintenance Free Fence. This Property Just Screams Your New Home, So Why Wait? Give Your Favourite Realtor(R) A Call Today To Book A Showing Before This Beauty Gets Snatched Up! (Id:23934)
CALL1.877.896.6727
Property Price
$509,000
Minimum Down Payment (%)
5.09%
Minimum Down Payment ($)
$25,900
Mortgage Insurance ($)
$19,324
Mortgage Required ($)
$502,424
Best Mortgage Rate (%)
1.69%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$152
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$27,552
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$27,552
Monthly Payment
$2,053
Welcome To 197 Greenwich Lane. This Mobile Home Is Available For Immediate Possession. Offering 3 Bedrooms And 2 Full Bathrooms. The Master Bedrooms Boasts A Walk In Closet Along With The Ensuite Bathroom. This Home Has Vaulted Ceilings And Laminate And Lino Throughout- No Carpet. Outside You Will Find A Huge Deck With An Enclosed Hot Tub Room, Back Yard And Shed. Sold As Is Where Is (Id:23934)
CALL1.877.896.6727
Property Price
$147,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$7,395
Mortgage Insurance ($)
$5,620
Mortgage Required ($)
$146,125
Best Mortgage Rate (%)
1.69%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$80
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$8,975
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$8,975
Monthly Payment
$597
There Is No Better Time To Live In The The Country And Church Ranches Could Be Your New Home. Imagine A 5 Min Drive From Calgary City Limits Through Grassy Prairies With Mountains Views - Your Stress Melting Away As You Pull Up To Your Quiet Home. This Upgraded Home In Coveted Church Ranches Community Comes With Access To 3 Private Stocked Lakes For Fishing, 2 Beaches Perfect To Launch A Paddleboard Or Canoe In The Summer. Once The Lakes Freeze, Skating And Cross Country Skiing Are Right At Your Doorstep. Church Ranches Also Has 5 Kms Of Maintained Private Walking Trails Where You Can Regularly See A Wide Variety Of Wildlife; Deer, Moose, And Foxes To Name A Few. The Almost 2.5 Acre Wooded Property Is Perfect For Entertaining Or Family Living With Outdoor Covered Barbeque Area And Backyard Firepit. This Home Has Vaulted Ceilings On The Main Floor Which Showcase The Grand Fireplace With Its Floor To Ceiling Window Surround. The Kitchen And Dining Area Are Open Concept And Have Modern Quartz Countertops And Espresso Cabinetry. The Additional Room On The Main Floor Has Beautiful Built-Ins. Upstairs Spacious Laundry Room With Storage And 3 Bedrooms (Master Included) Make This Home Very Family Friendly. Retreat To Your Master Bedroom With Full Ensuite, Spacious Walk-In Closet, Sitting Area And Private Balcony. The Walk-Out Basement Is Fully Finished With And Includes A 4Th Bedroom And Full Bathroom, Perfect For Guests. A Fireplace On Each Level Creates A Cozy Space For Guests And Family Alike. The Recently Added Theatre Room Is Wired And Ready For Your Family To Close The Door And Watch Uninterrupted. This Home Is Unique In That You Can Park Up To 5 Cars Indoors; The Attached Heated Triple Garage And A Detached Double Garage. This Also Allows For Ample Storage Of Any Kind. This House Has Been Upgraded With Closet Organizers, 2 New Furnaces And Humidifiers, Air Conditioners Up And Down, New Central Vacuum, Full Alarm System And A Brand New Garage Heater. (Id:23934)
CALL1.877.896.6727
Property Price
$997,500
Minimum Down Payment (%)
7.49%
Minimum Down Payment ($)
$74,750
Mortgage Insurance ($)
$36,910
Mortgage Required ($)
$959,660
Best Mortgage Rate (%)
1.69%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$250
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$76,500
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$76,500
Monthly Payment
$3,922
***The Perfect Blend Of Old And New!*** Welcome To This Incredible 2-Storey In-Fill In The Heart Of Downtown Red Deer! Located In The Historic Neighborhood Of Parkvale, Across From A Playground And A Block Away From The Red Deer Trail System, This House Is A Show Stopper! Quality Built By Forefront Homes - Fully Finished Top To Bottom With All The Custom Touches. Spacious Front Entry With Separate Main Floor Office Welcomes You Into The Home, And A Nice Wide Hallway Brings You Into The Main Floor Living Space. Featuring Linear Gas Fireplace With Custom Mantle In The Living Room, Huge Centre Island In The Spacious Custom Kitchen. All Stainless Steel Appliances, Soft Close Drawers, Under Cabinet Lighting, Full Tile Backsplash And Hidden Walk-In Pantry! Large South Facing Windows - All Triple Pane Throughout The Home. Recessed Lighting And All Led Fixtures. Metal Railings And A Custom Barn Wood Feature Wall In The Stairwell To Bring You Upstairs. Large, Bright Loft / Flex Room Plus Upper Level Laundry Room With Floor Drain. Master Bedroom Features Two Walk In Closets, Desk Nook Plus Full Ensuite With Heated Floor. Two More Bedrooms With Large Closets Plus Desk Nooks And Another Full Bath Finish Off This Family-Friendly Upper Level Layout. Downstairs You Will Find A Huge Recreation Area Plus Another Bedroom And Full Bath That Will Make Your Guests Want To Overstay Their Welcome! Large Storage Space And Separate Mechanical Area Downstairs As Well. All Functional In-Floor Heat, Hrv With Return Vents In All Rooms (Not Just One Central Return). For A Full List Of Upgrades, Please Have Your Real Estate Professional Request The Full Special Sheet! (Id:23934)
CALL1.877.896.6727
Property Price
$695,000
Minimum Down Payment (%)
6.40%
Minimum Down Payment ($)
$44,500
Mortgage Insurance ($)
$26,020
Mortgage Required ($)
$676,520
Best Mortgage Rate (%)
1.69%
Mortgage Type
2 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$189
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$46,189
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$46,189
Monthly Payment
$2,765

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.