Alberta Mortgage Calculator

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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
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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
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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
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Amortization period is length of time that it would take
the mortgage holder to pay off the mortgage in full
Amortization Period
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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
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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

Contact Us

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

Alberta Mortgage Examples

Fantastic, In Floor Heated Walkout Bungalow On 4.6 Acres In A Private Location Just Nw Of Airdrie On Pavement. Mature Trees, Private Setting & A Great Place To Raise Your Family! Huge 36X49 Heated, Insulated & Drywalled Shop+A 3 Car Heated Garage. Over 1900 Square Ft Up+1711 Square Ft Dev Down. Main Floor Features Inviting, Spacious Entry With Curved Staircase To Lower Level, Large Windows, Hardwood Flooring, Vaulted Ceilings & Gas Fireplace. Great Open Floor Plan Lends Itself To A Welcoming Entertaining Space With Roomy Kitchen That Has Gas Cook Top, Built In Oven, Tons Of Cabinets & Sink Overlooking The Backyard. Large Dining Area+A Flex Room That Could Be A Formal Dining Room, Bedroom Or Office. Laundry With Cabinets & Sink Is Located Off The Garage Entry. Master Bedroom Can Accommodate Large Furniture, Has A Full En Suite With His / Hers Sinks, Large Tub, Walk In Shower, Separate Toilet Area & 2 Walk In Closets. 2Nd Bedroom Up Has Walk In Closet. Basement Is In Floor Heated With Large Bedroom, Flex Room, Huge Recreation Area With Bar & Family Room. From Golden Rod Hall, North On Symons Valley Rd Approx 13 Kms, Then Left Hand Turn (West) When You See The Crossfield / Madden Sign, Then Another 3.5 Kms West. Total Of 16.5 Kms From Golden Rod Hall. Property On South Side Of Hwy 772 (Symons Valley Rd) (Id:23934)
CALL1.877.896.6727
Property Price
$849,900
Minimum Down Payment (%)
7.06%
Minimum Down Payment ($)
$59,990
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$220
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$61,710
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$61,710
Monthly Payment
$3,676
Shows Like New! 1 Owner 2014 Moduline Mobile Home, Located In A Mature Established Park. Enjoy Quiet, Maintenance Free Living, In The Heart Of All Amenities! Located Close To Schools, Shopping, Transit, Entertainment, Dining, And More! 2 Bedrooms, 2 Bath (En-Suite), Espresso Cabinets, Neutral Colours, Black Appliances, Vinyl Windows And Siding, Flat Grassed Yard, No Stairs In The Home...This Could Be The Retirement Dream That You Are Looking For. There Is A Large Double Driveway Out Front, And The Yard Can Be Fenced To Meet Your Needs. The Land Lease Is $586/ Month And Includes Water. (Id:23934)
CALL1.877.896.6727
Property Price
$95,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$4,750
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$69
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$6,319
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$6,319
Monthly Payment
$420
Opportunity Is Knocking !!!! To Get In A Nice Big House On A Acerage Close To Wabamun For A Very Reasonable Price Do Not Miss Out On This Chance !! If You Can Do Some Sweat Equity This Is The One ,Needs Some Finishing Touches ,Drywall , Some Flooring Etc, But At 2000 Square Ft Of Living Space You Can Not Go Wrong !! 3 Bedrooms Wuth Master Set Up For Big Ensuite ,Huge Kitchen And Living Room ,2 Full Baths All On 3.71 Fairly Private Acres There Is Even A Garage That Needs A Bit Of Work As Well. Welcome Home (Id:23934)
CALL1.877.896.6727
Property Price
$85,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$4,250
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$67
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$5,817
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$5,817
Monthly Payment
$376
Priced Competitively! Fantastic 3 Bedroom Townhouse In A Great Complex That Has Undergone Exterior Renovations That Include Vinyl Windows, And New Exterior Back Deck That Is West Facing And Is Very Private. This Complex Looks Great. This Home Is Perfect For A First Time Buyer Or Investor As It Is Priced To Sell. This Home Offers A Functional Kitchen With Space For Dining, Large Living Room, 3 Bedrooms And Full Bathroom. The Lower Level Offers A Large Recreation Room In With A 3 Piece Bathroom, And Storage. Pets Are Accepted With Board Approval. This Unit Comes With 2 Outdoor Parking Stalls Just Outside The Door For Convenience. Close To Genesis Place Recreation Center, Schools, Public Transportation And Restaurants. Ready For A Quick Possession If Needed. (Id:23934)
CALL1.877.896.6727
Property Price
$185,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$9,250
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$87
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$10,837
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$10,837
Monthly Payment
$818
This Could Be A Great Starter Home For A Young Couple Or Investment Property. A Well Priced 4 Plex Unit With A Single Att Garage. Features A Wide Open Floor Plan With A Vaulted Ceiling In The Living Room, Gas Fireplace, 3 Skylights, And Access To 5'X15' Deck. Has A Spacious Kitchen With Breakfast Bar And Ample Cabinet And Counter Space. A Extra Large Master Bedroom With A 4 Pce Ensuite. The Basement Is Fully Finished With A Large Family Room, A Huge Bedroom, A Huge Den, And A 3 Pce Bath. Has A 12'X22' Attached Garage. The Shingles Were Replaced In 2014. This Unit Is In Need Of Some Upgrading And Renovations. (Id:23934)
CALL1.877.896.6727
Property Price
$189,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$9,495
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$88
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$11,083
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$11,083
Monthly Payment
$840

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.