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 Examples

This Home Is Bright And Spacious At 1335 Square Feet And Has Been Wonderfully Kept! It's Located Off Of The Main Street, Faces A Large Green Space And Is Within Walking Distance To Parks, Schools And Shopping. Numerous Features Of The Home Include A Spacious Main Floor Laundry Area With Cabinets And Wash Sink ~ A Large Front West Facing Covered Veranda ~ Concrete Parking Pad At The Front ~ 30' Long Rv Parking Space In The Back ~ Heated And Finished 2 Car Garage ~ Master Bedroom Ensuite ~ Spacious Basement With Potential For A 5Th Bedroom And A Potential Legal Suite ~ Hardwood Flooring On The Main Level ~ Gas Fireplaces On Both Levels ~ Ceiling Fans And More. This Home Can Be Made Handicap Accessible Again As It Was With The Previous Owner Having A Lift Off The Back Entry. Much To Appreciate In This Very Large Home! (Id:23934)
CALL1.877.896.6727
Property Price
$350,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$17,500
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$120
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$19,120
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$19,120
Monthly Payment
$1,547
Investors Dream! Legal Up / Down Duplex With Large (24X26) Double Detached Garage That Is Finished And Set Up For Heat. This Home Features A Separate Entrance In The Back For The Downstairs Tenants, Stainless Steel Appliances In The Upstairs Kitchen And A Huge Downstairs Kitchen With Chocolate Cabinets And Black Appliances. This Property Is Just Steps Away From A Park, And In A Great Northside Location. Professionally Managed And Well Maintained, This Is Perfect For Any Investor Wanting To Get Into A Rental Property This Buyer's Market! Current Rent Is $1500 Up And $ 1300 Down. This Will Add Immediate Cash Flow The Moment You Take Possession! An Opportunity Like This Doesn't Come Along Very Often So Act Fast And Add This One To Your Portfolio! (Id:23934)
CALL1.877.896.6727
Property Price
$349,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$17,495
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$120
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$19,115
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$19,115
Monthly Payment
$1,547
Location Plus! 2 Bedroom, 2 Bathroom, Spacious, Bright, One Owner Villa Style Bungalow Nestled On A Quiet Cul-De-Sac And Backing Onto A Beautiful Green Area With Views! The Main Floor Boasts A Large Living Room With Gas Fireplace And Valued Ceilings, 2 Good Sized Bedrooms Including A Master With 4 Piece En-Suite, A Kitchen With Loads Of Cupboards And A Built In Desk / Work Station, Also An Open Dining Area Able To Accommodate Large Family Gatherings And A Laundry Room! Good Sized Garage With Storage. Pored Patio. Enjoy The Walkways And Clubhouse With Amenities And Activities! This Immaculate Home Is Move In Ready! Vacant. Immediate Possession. Don't Wait For Winter! (Id:23934)
CALL1.877.896.6727
Property Price
$309,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$15,495
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$112
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$17,107
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$17,107
Monthly Payment
$1,370
Absolutely Gorgeous! Located In Oakmont This Unique Home Has Been Completely Renovated From Top To Bottom. The High Caliber Of Workmanship Is Evident & The Custom Architectural Design Features Are Breathtaking. You Are Greeted With A Grand Entry, Cathedral Ceilings & Fabulous Wide Stairway With Classic Iron Spindles. The Dream Gourmet Kitchen Offers Granite Counters, Double Ovens, Steamer, Gas Stove (Countertop) Exquisite Cabinetry & Butlers Kitchen! The Great Room Is Anchored By A Feature Fireplace & Breakfast Area Leads To The Patio, A Formal Dining Room & Stylish Living Room With Fantastic Windows. The Laundry Room Is Huge - Loads Of Pantry Space. The Upper Level Has A Luxurious Master Suite, Walk In Closet, French Doors, Relaxing Sitting Room, Balcony & A Spa-Like 5 Pce Bath, 3 Other Bedrooms & Full Bath. With Over 3200 Square Feet Of Space, Amazing Mill Work & Flooring This Is A One Of A Kind Home! The Traditional Stone Exterior Offers A Triple Garage (Insulated & Shelving) & Landscaped Yard. Impressive! (Id:23934)
CALL1.877.896.6727
Property Price
$888,000
Minimum Down Payment (%)
7.18%
Minimum Down Payment ($)
$63,800
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$228
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$65,528
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$65,528
Monthly Payment
$3,836
Second Floor Two Bedroom Condo With One Full Bathroom. The Master Bedroom Is A Really Good Size. A Minor Amount Of Tlc And This Home Could Be Yours! Property To Be Sold As Is Where Is. Ownership Is Cheaper Than Rent! With 20% (15,000) . Your Mortgage Payment With Condo Fee & Yearly Taxes = $753 Per Month. Location Is Fantasic Being Down Town And So Close To Shopping, Restaurants, Grocery Shopping And Local Busing. (Id:23934)
CALL1.877.896.6727
Property Price
$75,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$3,750
Best Mortgage Rate (%)
2.49%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$65
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$5,315
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$5,315
Monthly Payment
$332

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.