Alberta Mortgage Calculator
?
Enter the amount that you are planning on paying for the property
STEP 1
Enter property purchase price
Haven't found a property to purchase yet?
Airdrie384Beaumont125Bonnyville Town101Calgary6,405Camrose128Canmore175Chestermere133Cochrane229Cold Lake162County Of291
Edmonton6,633Fort Mcmurray676Fort Saskatchewan213Grande Prairie638Lac La Biche95Lacombe111Leduc220Lethbridge649Lloydminster157M.D. Of121
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
–
?
CMHC mortgage insurance is required on all
mortgages with down payment less than 20%
+
$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)
=
$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
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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
STEP 2
Select province to get current
mortgage rates
?
Mortgage type specifies whether the interest
rate is variable or fixed
?
Mortgage term is the duration of time that you
are committed to a lender, rate and conditions
?
Mortgage rate is the interest rate that you will
be paying on the outstanding balance for the
duration of the mortgage term
Select
Select
Select
Select
4.59 %
4.64 %
4.74 %
4.99 %
5.09 %
5.14 %
5.14 %
5.39 %
5.49 %
5.74 %
5.74 %
STEP 3
Select one of the mortgage
rates currently available
?
Please select how often you would like
to make your mortgage payments.
?
Mortgage payment is the amount that you will be
required to pay based on your mortgage terms
–
–
–
–
?
This is an estimate of how much you should expect
to spend upfront in order to make this purchase
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
+
–
–
–
Select City to get Land Transfer Tax Rate
EdmontonFort McmurrayFort SaskatchewanGrande PrairieLac La BicheLacombeLeducLethbridgeLloydminsterM.D. Of
Total Cash Needed
=
$28,020*
$52,616*
$77,457*
$101,500*
* Plus Land Transfer Tax, please select Alberta city to calculate Land Transfer Tax
Alberta Mortgage Calculator Examples
Here Is Your Great Opportunity To Own This Stunning/|Fully Renovated Second Floor Two-Bedrooms Home! Perfect To Own As Income Property Or Live In! Features Open Concept Floor Plan, Large & Bright Living Room With South Facing Balcony Where You Can Enjoy Barbeque During Summer. Entire Home With New Neutral Painting, Brand New Luxury Vinyl Plank Flooring Throughout. Spacious Kitchen Boasts Brand New Modern Kitchen Cabinetry & Gorgeous Kitchen Counter Adjacent To Sizable Dining Area. In-Suite Laundry And Storage Room. Bathroom Comes With Brand New Vanity, Sink, Flooring & Toilet. One Assigned Energized Parking Stall. This Well-Maintained Complex Is Pet-Friendly, Healthy Reserve Fund And Offers Underground Parking Stalls For Rent If Available. Excellence Location With Only Minutes To Bus Routes, Shopping C, Grocery Stores, Restaurant, Anthony Henday & St-Albert Trail. Quick Possession Available. Shows 10 / 10! Just Move-In & Enjoy! (Id:23934)
CALL1.877.896.6727
Property Price
$129,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$6,495
Mortgage Insurance ($)
$4,936
Mortgage Required ($)
$128,341
Best Mortgage Rate (%)
4.59%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$76
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$8,071
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$8,071
Monthly Payment
$717
This Three-Bedroom, Two-Bathroom, Two-Storey Home Is Perfect With River Valley Views, A Detached Double Garage, Minutes To The Downtown Core, And A Fully Fenced Backyard! The Main Floor Has A Large Living Room With Laminate Flooring And A Gas Fireplace. The Kitchen Has Abundant Storage And Is Finished With A Dining Area With Access To The Backyard. The Basement Is Partially Finished And Awaits Your Finishing Touches. Abasand Is A Vibrant Subdivision With Schools, Parks, And Some Of The Best Trail Systems In The Entire City That Allow You To Hike, Atv, Fish And Hunt Right Out Your Back Door! Selling As Is, Where Is, At Possession. (Id:23934)
CALL1.877.896.6727
Property Price
$179,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$8,995
Mortgage Insurance ($)
$6,836
Mortgage Required ($)
$177,741
Best Mortgage Rate (%)
4.59%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$86
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$10,581
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$10,581
Monthly Payment
$993
Quick Possession Available!! No Condo Fees - Immaculate 2 Story Townhome; Beautifully Finished & Conveniently Located. Main Flr Living Area With Laminate Flring Features A Bright Front Living Room, Half Bath & A Spacious Kitchen / Dining Area With Rich Flr / Ceiling Cabinetry, Massive Pantry, Island & Stainless Appliances. A Beautiful Iron Rod Staircase Ascends To The Upper Level Featuring Two Primary Suites Both With Full Ensuite & Walkin Closet Plus There's The Convenience Of An Upstairs Laundry Room. Basement Is Unspoiled Offering Unlimited Development Potential. Enjoy The Beautiful, Fully Fenced South Facing Backyard With Large Deck & Low Maintenance Landscaping. Double Detached 17X20 Garage With Back Alley Access. Prime Location Close To Schools, Parks, Walking Trails, Tri Leisure Centre, Shopping & Public Transportation. Investors This Is An Excellent Rental Opportunity! (Id:23934)
CALL1.877.896.6727
Property Price
$314,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$15,745
Mortgage Insurance ($)
$11,966
Mortgage Required ($)
$311,121
Best Mortgage Rate (%)
4.59%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$113
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$17,358
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$17,358
Monthly Payment
$1,738
Welcome To This Character Home In The Community Of Belvedere. Features 2 Bedrooms, 1 1 Full Bathroom, And A Central Living Space On The Main Floor. There Is A Separate Entrance At The Back Of The House. The Basement Is Partially Developed With Huge Den In, That Could Be Developed And Converted To Another Bedroom If Desired. Backyard Is Fenced And Private And Boasts New Built Double Detached Garage With A Driveway For Extra Parking As Well. Located Within A 6 Minute Walk To The Train Station And Down The Street From London Derry Shopping Centre. (Id:23934)
CALL1.877.896.6727
Property Price
$250,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$12,500
Mortgage Insurance ($)
$9,500
Mortgage Required ($)
$247,000
Best Mortgage Rate (%)
4.59%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$100
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$14,100
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$14,100
Monthly Payment
$1,379
Revenue Property Alert!! This Is A Fantastic Opportunity To Generate Some Income On A Fantastic Property Or Help Supplement Your Mortgage! Upstairs You Will Find A 3 Bedroom Plus Bath, Large Living Room, Kitchen And Dining Eating Area And Downstairs You Will Find A 1 Bedroom Plus Bath & Family Room Illegal Suite. Not Only Can You Choose To Rent Both The Up And Down Out, But Live In One Or The Other And Rent Out The Other Space. Then On Top Of It You Will Find Not 1 But 2 Garages In The Backyard!!! There Is A Massive, Fully Finished Double Garage (Approx 25'X23') With Tons Of Cabinets And Built Ins And Then An Additional Finished Single Car Garage (Approx 23'X11'). Whether You Are Looking For Some Extra Storage For Yourself Or Would Like To Increase Your Cash Flow On The Property, This Is A Fantastic Place To Do That. Despite Having 2 Garages In The Back You Still Have A Large Yard With Grass And A Nice Ground Level Patio To Sit Back And Enjoy Your Yard! The Opportunities Are Endless On This Property. Use A Little Imagination And Turn It Into Your Perfect Little Oasis! (Id:23934)
CALL1.877.896.6727
Property Price
$324,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$16,245
Mortgage Insurance ($)
$12,346
Mortgage Required ($)
$321,001
Best Mortgage Rate (%)
4.59%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$115
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$17,860
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$17,860
Monthly Payment
$1,793
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.