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

Two Garages!!!! Triple Car Garage With Drive Through & Another Garage In The Back Yard?! Man Cave Dreams For This Home On The Very Quiet Street On 124 Lawrence In Lakewood Estates In Timberlea. A Great Street To Raise Your Family Being Close To Trails, A Storm Pond And The Water Park In The Summer To Enjoy. This Is Truly An Executive Style Home, Without The Price Tag. The Main Floor Has A Grand Entrance When You Walk In. You Can Enjoy The Formal Dining, Front Siting Room, Eat In Kitchen And Living Room. Those Are Separate Things! For The Cook In The House There Is Lots Of Counter Space, Cupboards And A Pantry. The Rare Find Upstairs Is Four Bedrooms. Let's Call It The Master Suite! Huge Walk In Closet And 5 Piece Ensuite. The Master Bedroom Is Grand! The 4Th Bedroom Is The Bonus Space In The Home Over The Garage And Has Lots Of Character. It Could Be Used As A Bedroom, Den, Or Work Out Space. And Laundry Is Upstairs! The Basement Has Two More Bedrooms And A Large Recreation Room. The Property Boasts An Almost 8000 Square Ft Lot. Location Is So Important When Choosing A Property, This One Has It! Check Out The Floor Plans In The Photos. One Of The Owners Is A Licensed Realtor In The Province Of Alberta. (Id:23934)
CALL1.877.896.6727
Property Price
$684,000
Minimum Down Payment (%)
6.35%
Minimum Down Payment ($)
$43,400
Best Mortgage Rate (%)
1.99%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$187
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$45,087
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$45,087
Monthly Payment
$2,818
Open House This Sunday July 5Th 2-4Pm! This Stunning Former Showhome Will Have You Falling In Love From The Moment You Set Eyes On It. With A Picturesque Brick Exterior, Underground Sprinklers, Superb Landscaping & Central Air Conditioning, You Can Move In And Not Spend Another Penny. The Main Entry Exposes A Large Open-To-Above Design, Which Allows A Ton Of Natural Light To Flood Through. The Living Room Has A Gorgeous Central Fireplace With Spectacular Floor To (Almost) Ceiling Windows Surrounding It. The Kitchen Is Modern With Clean Dark Cabinets & Light Countertops. The Mudroom Is A Perfect Place To Unload Your Winter Vestments & It Flows To The Walkthrough Pantry. A Coffee Bar / Cocktail Space Extends Into The Dining Room & Is A Great Feature For Additional Storage. The South Backyard Is Fully Landscaped With A Deck, Flagstone Patio, A Dog Run & Plenty Of Green Space For The Kids. A Rear Lane Adds Extra Privacy & Gives You Options For Rv Parking. *See Additional Remarks* Upstairs, The Master Bedroom Offers A Vaulted Ceiling & Plenty Of Space For All Your Furniture. The Ensuite Has Dual Vanities, A Stand-Alone Tub & A Walk-In Shower With Upgraded Glass Doors. A Spacious Bonus Room Allows For Casual Movie Nights With Surround Sound Speakers. At The Other Wing, You Have A Separate Laundry Room, 2 Astonishingly Spacious Bedrooms & A 4 Piece Bath. The Basement Is Unfinished, Allowing For Your Personalized Touch. Additional Upgrades Include Speakers Throughout The Home, A 9' Basement Ceiling & A 23' Deep Garage (Which Will Fit A Truck). Phenomenal Neighbourhood, Just Steps To The Local Playground & A Short Walk To The Elementary School. (Id:23934)
CALL1.877.896.6727
Property Price
$575,000
Minimum Down Payment (%)
5.65%
Minimum Down Payment ($)
$32,500
Best Mortgage Rate (%)
1.99%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$165
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$34,165
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$34,165
Monthly Payment
$2,386
Looking For A Great Family Home In A Beautiful Southside Neighborhood? This Property Is For You! Not Only Does This Home Have Enough Space For Your Growing Family With 4 Large Bedrooms And 3 Bathrooms, It Also Has Two Garages. Just Steps From Sequioa Park, This Gorgeous Home Is Surrounded By Mature Trees And An Inviting Neighbourhood. With Many Updates Throughout, You Will Not Be Disappointed By What This Fully Developed Property Has To Offer. (Id:23934)
CALL1.877.896.6727
Property Price
$332,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$16,645
Best Mortgage Rate (%)
1.99%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$117
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$18,262
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$18,262
Monthly Payment
$1,391
Outstanding Landscaping, & Heated Double Garage Tops This Beautiful Modern Design Residence With Charming Curb Appeal. This Gorgeous Home Offers A Functional Floor Plan With 3 Spacious Bedrooms Including A Grand Master With A Splashing Ensuite, Both With Dramatic Vaulted Ceilings. Sensational & Immaculate Offering A Modern Living Space With Rich Laminate Flooring On The Main & Nine Foot Ceilings. The Formal Dining Area Is Adjacent To The Kitchen With Miles Of Quartz Counter Tops, Sparkling Designer Back Splash & Extended Breakfast Bar. The Principal Rooms Open To A Sun Filled Terrace For Entertaining In A Child Safe Backyard. This Residence Is Complimented By Walkways, Landscaping, Garden Beds, & Additionally A Fully Fenced Backyard With A Paved Lane Way Access To An Enclosed 2 Car Heated Garage. The Home Is Perfect For Any Family With Additional Space On The Lower Level, Large Picture Windows, Nine Foot Ceilings & An Open Recreation Area To Develop. It Is Conveniently Close To Schools & Amenities. (Id:23934)
CALL1.877.896.6727
Property Price
$419,999
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$21,000
Best Mortgage Rate (%)
1.99%
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
$22,634
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$22,634
Monthly Payment
$1,755
Fully Finished 3 Bedroom, 3 Bath 4-Level Split Located In A Mature Neighbourhood On A Large Lot ~ Double Attached Garage ~ Recent Updates Include; Vinyl Windows, Flooring, Wrought Iron Railings, Trim, Doors, Toilets, Vanities, Refinished Cabinets, Deck And Stone Patio ~ Covered Front Entry Welcomes You And Leads To A Tiled Foyer ~ The Living Room Has South Facing Windows Overlooking The Front Yard And Opens To The Formal Dining Space ~ The Kitchen Offers Plenty Of Refinished Oak Cabinets With Crown Mouldings, Stainless Steel Appliances, Wall Pantry, Window Above The Sink Overlooking The Backyard, Garden Door Access To The Deck (With Gas Line For Barbeque) And An Eating Bar Overlooking The Family Room Below ~ The Family Room Features A Wood Burning Fireplace With Gas Starter And Stone Surround With Built In Niches And Offers Garden Door Access To The Lower Stone Patio And Backyard ~ Laundry And A 2Pc Bath Are Conveniently Located Just Off The Family Room ~ Upstairs The Spacious Master Can Easily Accommodate A King Size Bed Plus Furniture And Has A 3Pc Ensuite And Walk In Closet With Built In Shelving ~ 2 Additional Bedrooms Are Located Across From The Master And Share A 4Pc Bath With Soaking Tub And Window For Added Natural Light ~ The Basement Has A Large Family Room, Utility Room And Crawl Space For Storage ~ Double Attached Garage With New Overhead Door ~ Just Off The Garage Entrance There Is Another Door Leading To The Backyard And A Fenced In Area For Pets ~ The Backyard Is Fully Fenced With Back Alley Access, Is Landscaped With Mature Trees, Shrubs And Perennials, Loaded With Raised Garden Beds, Has A Tree House And 2 Sheds ~ Located Close To Multiple Parks, Playgrounds And Walking Paths. (Id:23934)
CALL1.877.896.6727
Property Price
$399,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$19,995
Best Mortgage Rate (%)
1.99%
Mortgage Type
5 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
$1,671

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.