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

Custom Built By Kenco This Bungalow Has So Much To Offer. Lets Start With Over 1940 Ft.² On The Main Level. All Rooms Sizes Are Substantial. You Will Find Three Bedrooms Up And Two Down, Three Bathrooms, Three Fireplaces, An All Season Sunroom And Main Floor Laundry. The Attached Double Garage Is Sure To Please But If Thats Not Enough There Is A Detached Garage In The Rear. (27X19) - Both Garages Are Heated. The Rear Garage Is Perfect For A Workshop As Well. There Is A Separate Room For The Hot Tub Outback (Recently Serviced And Included.). The Basement Gives You An Additional 1611 Ft.². It Is Completely Developed And Includes A Walk Out To The Backyard. The Yard Is Maintenance Free. There Is Beautiful Paving Stone In The Front Yard And The Back Has Lots Of Concrete. No Mowing Or Watering. All Of This In An Awesome Central Location. Incredible Value Here - Book A Showing Today!!! (Id:23934)
CALL1.877.896.6727
Property Price
$589,900
Minimum Down Payment (%)
5.76%
Minimum Down Payment ($)
$33,990
Mortgage Insurance ($)
$22,236
Mortgage Required ($)
$578,146
Best Mortgage Rate (%)
1.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$168
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$35,658
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$35,658
Monthly Payment
$2,365
One Word.... Brightthis Incredible Acreage Offers 5-Bedrooms, 3-Bathrooms, 3 On A Pristine Landscaped 3.09 With Pavement Right To Your Doorstep.As Soon As You Enter You Cant Help But To Notice How Every Room Is Flooded With Light, Comfort And Spaciousness. Entertain Guests From Every Room And Enjoy The View Of Your Beautifully Landscaped Yard Thought The Abundance Of Windows. The Kitchen Is So Grand And Located At The Heart Of The Home, Lack Of Space And Storage Will Never Be A Problem For You! The Cupboard Capacity Is Never Ending With Roll Out Pantry Drawers And Even A Flour Drawer For The Avid Baker. Feed Your Family Lunch At The Large Island Or Line The Kids Up To Discuss Their Day. The Dinning Room Is Off To The Side With A Great Bay Window Or Escape To This Large Living Room With A Cozy Wood Burning Stove, You Just Cant Beat Wood Heat!Take A Few Steps To The Upper Level, It Offers New Flooring And Find 3 Considerable Sized Bedrooms With Sizable Closets And Closet Organizers, And A Large 3 Piece Main Bathroom. The Master Bedroom Features Sliding Mirrored Closet Doors, Veiling Deep Closets And Large Sliding Deck Doors To Your Private Roof Top Deck. Catch Some Rays, Catch Your Breath Or Catch A Nap Up Here, All Before Heading Into Your Master 3 Piece En-Suite, The Perfect Place To Unwind In The Soaker Tub.The Lower Level Offers New Flooring In Your 3Rd Living Room. This Space Is Perfect For A Man Cave, Home Gym, Play Room Or Media Room. With A Whole Wall Of Storage Space, This Room Will Help You Stay Organized And Tidy. The 3 Level Offers Above Grade Large Windows, Sun Soaked Head To Toe, And Offers The 2Nd Convenient Gas Fireplace. Enjoy 2 Additional Bedrooms And A Nice Sizeable Bathroom With Stand Up Shower.The Double Car Garage Is Heated, With Shelving, A Wash Sink With Hot & Cold Taps. The Real Prize Of This Garage Has To Be The Third Door On The Rear, Never Shuffle Your Toys Around Again . Start Your Engine And Head Out Any Of Your Garage Doors Ont O Your Completely Paved Back And Front Driveways. In Case The Garage Isn't Big Enough For You, The Property Also Has 3 Great Sized Sheds For.... You Guessed It More Storage. Keep Your Lawn Mower And Snow Blower Out Of The Garage And Out Of The Way. Have A Green Thumb? Many Hours And Thought Went Into This Landscaping With Plenty Of Flower Beds, Full Of Perennials, A Very Large Garden, And A Cozy Greenhouse This Home Also Includes Central Vac, Low Iron System, Reverse Osmosis System And Fresh Paintwant More Land, We Have You Covered, The Lot Next Door On Its Own Title Is Also For Sale For $99,900 And Offers 3.36 Acres, Serviced To The Property Line, And Drilled Well. Call Today To View! (Id:23934)
CALL1.877.896.6727
Property Price
$550,000
Minimum Down Payment (%)
5.45%
Minimum Down Payment ($)
$30,000
Mortgage Insurance ($)
$20,800
Mortgage Required ($)
$540,800
Best Mortgage Rate (%)
1.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$160
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$31,660
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$31,660
Monthly Payment
$2,212
Extensive Development And Improvements In The Past 5 Years. This Exquisite Two Storey Home Is Nestled On 20 Acres Of Forest And Meadows. Enjoy A World Where The Deer Feed At Your Front Door And The Mountains Peek At You Between The Trees. The Trout Swim In Neighbouring Streams And The Natural Landscape Goes On Forever. The Formal Front Door Foyer Leads You Through Leaded Glass Doors Into The Hallway Which Features The Oak Clad Grand Stairway To The Upper Floor. This Elegant Entrance Leads To The Library (With Generous Built In Shelving And Lots Of Soft Light Throughout The Two Large Windows) And The Living Room With Its Soaring Vaulted Ceiling. Next To The Living Room Youll Enjoy A Smaller Sitting Room With A Wonderful Wooded View. The Adjacent Dining Room Easily Seats Twelve And Could Accommodate Twenty Or More. The Kitchen Boasts Abundant Cupboard And Counter Space, Many Built-Ins And A Sub-Zero Fridge. The Oak Lined, Main Floor Den With Loads Of Shelving Is An Ideal Office Or Main Floor Private Getaway. Long Hallways On The Main Floor Are Ideal For Featuring Art Work And Family And Travel Photographs. On The Upper Floor, The Spacious Master Suite With Its Private Balcony, Fireplace And Walk-In Closet Features A Well Appointed Ensuite With Gold Faucets. The Billiard Room With Its Dark Oak Wainscoting And Built In Book / Trophy Shelves Is A Feature Of The Fully Developed Walkout Level. Next To It Is The Games Area Which Is Adjacent To The Bar / Relaxing / Tv Area With Wood Burning, River Rock Fireplace. (Yes, The 80 Tv Stays With The House). The Large Guest Room Also Has Built In Desk / Work Areas As Well As A Murphy Bed. The Gymnasium Features Mirror Bypass Doors On The Two Large Storage Areas (All Gym Equipment Is Included). Speaking Of Storage, There Are Two Large And Fully Finished And Shelved Storage Rooms. Garages For 5. The Attached Heated Garage Holds Four Full Size Vehicles And A Workshop. The Single Detached Garage, Of Course Holds One. For Horse Lovers The Pro Perty Is Set Up For Horses, Fenced And Cross Fenced With Abundance Of Grass. Also There Are Two "Soft Wall" Barns 35X60 Ft Each To Shelter Horses, Hay And Equipment. The Property Borders Large Crown Land Area For Hours Of Riding. Call For A Tour Of This Wonderful Property Today! (Id:23934)
CALL1.877.896.6727
Property Price
$1,300,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$260,000
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,040,000
Best Mortgage Rate (%)
1.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$310
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$261,810
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$261,810
Monthly Payment
$4,255
This Fully Finished, Newly Renovated, Walk Out 4 Level Split Is In A Great Location! The Spacious Entrance Takes You Into The Nice Open Concept Of The Living Room, Dining Room And Kitchen Which Is Nicely Complimented With Some Details And Slight Separation While Still Maintaining The Open Feel. The Kitchen Has Plenty Of Cabinets Finished Off With New Taps, New Dishwasher And Stainless Steel Kitchen Appliances. The Upper Level Has 3 Good Sized Bedrooms And A Full Bathroom With A Cheater Door To The Master Bedroom. The Walk Out Lower Level Offers Patio Doors That Lead Out Into The Landscaped Private Back Yard (New Sod Just Laid This Fall) With Plenty Of Trees And Completely Fenced. The 3Rd Level Also Has A New Gas Fireplace That Makes This Space A Great Family Area For Watching Movies Or Great For Teenagers., A Full Bathroom And Laundry Room. There Is Also Another Level, With A Flex Room, Furnace Room And A Cedar Sauna Room And Plenty Of Storage, Just Off The Furnace Room. The Home Is A Great Overall Layout With Lots Of Windows Throughout The Home To Let The Natural Light Soar Through. There's Nothing Left To Do, It's Move In Ready. Some Of The Recently Done Renovations (2019) Include; All Flooring And Paint Throughout The Home, New Siding, 3 New Windows Installed, All New Light Fixtures, Some New Plumbing Fixtures, New Fireplace, Upgraded Furnace And Hot Water Tank. (Id:23934)
CALL1.877.896.6727
Property Price
$272,500
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$13,625
Mortgage Insurance ($)
$10,355
Mortgage Required ($)
$269,230
Best Mortgage Rate (%)
1.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$105
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$15,230
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$15,230
Monthly Payment
$1,101
Located In A Quiet Neighborhood Downtown, This Home Sits On A Large Lot That Back's Onto A Greenback Alleyway With A 24 X 24 Drywalled & Painted Detached Garage. Inside The Home, You Will Find A Kitchen With An Eating Nook, A Large Living Room To Kick Back And Relax With Lots Of Natural Light, 3 Bedrooms & Full Bath On The Main Floor & Of Course A Back Entrance To The Back Yard And Garage.The Basement Has Been Renovated From Top To Bottom. New Furnace, Hot Water Tank, New Wiring, New Bathroom, Flooring & Paint. The Basement Boasts A Large Recreation Room & Games Room Or Gym Area, Bedroom, & Full Bath. Also, Enjoy The Central Air For Those Hot Days. Book Your Personal Showing Today! (Id:23934)
CALL1.877.896.6727
Property Price
$400,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$20,000
Mortgage Insurance ($)
$15,200
Mortgage Required ($)
$395,200
Best Mortgage Rate (%)
1.70%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$130
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$21,630
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$21,630
Monthly Payment
$1,617

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.