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

Welcome To 201-100 Denholm Gate.. With This 1 Bedroom, 1 Bathroom + Den Condo - Affordable Living And Breathtaking Views Will Be No Compromise! This Unit Is The Perfect Starter Home And Amazing Opportunity To Have An Investment Property Of Your Own. Located Downtown Just Off The River Valley Next To Keyano College, Syncrude Sports And Wellness Centre, Elementary + High Schools, Shopping, Bus Routes, Parks + Playgrounds, And So Much More! Upon Entering The Unit You Will Be Greeted With Open Concept Living With Lots Of Natural Lighting. The The Spacious Kitchen Offers Ample Countertop + Cupboard Space And Also Features An Eat Up Breakfast Bar. Just Off Your Great Living Room Is Sliding Doors To Your Very Own, Private Balcony Where You Can Take In All The Views Our River Valley Has To Offer. The Main Bedroom Is A Great Size And Offers A Large Closet. This Unit Also Has A Den Which Could Make A Perfect Office Space Or Additional Storage. To Top It Off, This Home Features In-Unit Laundry And Also Comes With An Assigned Underground Parking Stall! You Will Not Want To Miss Out On This Super Affordable Condo, Call Mallory Middlestead To Book A Personal Viewing Today!! (Id:23934)
CALL1.877.896.6727
Property Price
$100,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$5,000
Mortgage Insurance ($)
$3,800
Mortgage Required ($)
$98,800
Best Mortgage Rate (%)
5.74%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$70
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$6,570
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$6,570
Monthly Payment
$617
Luxury Adult 40+ Living! Upgraded 1 Bedroom Condo. Close To All Building Amenities.Outdoor Sun Deck / Patio, Indoor Pool And Hot Tub, Library, Wood Workshop, Car Wash, Games Room, Exercise Room, Entertainment Movie Room. Suites For Guests On Every Floor. This Unit Offers Loads Of Natural Light From East Facing Patio And Windows. Located On Second Floor And Offers Open Concept Living Room, Dining And Kitchen Accented With Quartz Countertops And Glass Backsplash. Vinyl Flooring Throughout And Sizable Laundry With Storage. Underground Parking Stall With Storage Room. Beautifully Landscaped Grounds Includes A Putting Green. (Id:23934)
CALL1.877.896.6727
Property Price
$219,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$10,995
Mortgage Insurance ($)
$8,356
Mortgage Required ($)
$217,261
Best Mortgage Rate (%)
5.74%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$94
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$12,589
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$12,589
Monthly Payment
$1,357
Welcome To This Solid Family Home In A Great Neighborhood Close To Schools, Walking Trails, Parks And So Much More. 36 Vista Rd Se Is A Fully Developed 2 Storey, Offering A Functional Layout, Double Attached Garage And A Large Fully Fenced, Landscaped Back Yard. The Main Floor Welcomes You With A Spacious, Tiled Front Entry That Leads Into A Kitchen / Dining Area Open To The Living Room. Some Additional Features Of This Space Include A Cozy Gas Fireplace, Updated Lighting, Full Appliance Package, Corner Pantry, A 2-Piece Powder Room, And The Best Desk / Nook Area, Perfect For The Kids To Do Crafts Or Schoolwork. Head Upstairs Where You Will Find 3 Ample Sized Bedrooms, A Main 4-Piece Bath, And The Convenience Of A Laundry Area So You Can Say Goodbye To Running Downstairs To Wash Clothes! The Primary Suite Offers A Walk-In Closet And 4-Piece Ensuite Including A Corner Jetted Tub. You Will Love The Overall Bright, Open Feel Of This Level And The Abundance Of Windows That Flood The Rooms With Lots Of Natural Light. The Basement Has A 4Th Bedroom, 3-Piece Bath, Storage, And A Family Room Perfect For Hanging Out, Playing Games, Or Watching Movies. This Home Has So Much To Offer Making It The Perfect Place For A Family Or An Investor. Come Make This Your New Home Sweet Home. Set Up Your Viewing Today! (Id:23934)
CALL1.877.896.6727
Property Price
$419,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$20,995
Mortgage Insurance ($)
$15,956
Mortgage Required ($)
$414,861
Best Mortgage Rate (%)
5.74%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$134
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$22,629
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$22,629
Monthly Payment
$2,591
Welcome To This Beautifully Renovated 5 Bedroom Bungalow In The Highly Desirable Neighbourhood Of Lacombe Park! Brand New Shingles And Double Pane Windows. The Interior Has Been Renovated Top To Bottom Including Many Features Such As All New Kitchen Cabinetry, Quartz Countertops, Stainless Steel Appliances, Furnace And Hot Water Tank! The Open Concept Kitchen And Dining Is Very Inviting And Will Create A Great Family Atmosphere. On The Mainfloor You Will Also Find Three Bedrooms, A Fully Renovated Shared Bathroom And A Ensuite In The Primary. In The Basement There Is An Additional Two Bedrooms, Large Living Space And Another Full Bathroom. Lacombe Park Is An Amazing Family Neighborhood Surrounding By Schools And Close Access To All Amenities On The St Albert Strip. (Id:23934)
CALL1.877.896.6727
Property Price
$485,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$24,250
Mortgage Insurance ($)
$18,430
Mortgage Required ($)
$479,180
Best Mortgage Rate (%)
5.74%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$147
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$25,897
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$25,897
Monthly Payment
$2,992
Welcome To Your Pet Friendly Dream Home At The Exclusive E'scapes Building. This Condo Is A True Gem That Beckons You To Experience A Lifestyle Of Comfort, Convenience, Featuring A Spacious Layout And Laundry In Suite. Sip Your Morning Coffee Or Unwind With A Glass Of Wine On Your Large Private Patio. This Condo Offers The Ultimate Convenience With Its Underground Parking, Secured Storage, And Air Conditioning. Stay Fit And Healthy With A Fitness Room Right Within The Building. Your Visitors Will Love The Comfort And Privacy Of The On-Site Guest Room, Making Hosting Friends And Family A Breeze. The E'scapes Building Truly Stands Out With Its Three Incredible Social Spaces To Host Meetings, Gatherings, Or Simply Relax In The Company Of Neighbours. This Condo Offers A Unique Opportunity To Embrace A Low-Maintenance, High-Quality Lifestyle. The Location Is Unbeatable, With Easy Access To Shopping, Dining, Entertainment, And Major Transportation Routes. Don't Miss Your Chance To Experience Life At E'scapes! (Id:23934)
CALL1.877.896.6727
Property Price
$225,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$11,250
Mortgage Insurance ($)
$8,550
Mortgage Required ($)
$222,300
Best Mortgage Rate (%)
5.74%
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
$12,845
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$12,845
Monthly Payment
$1,388

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.