Alberta Mortgage Calculator

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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
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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
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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

Contact Us

First Name
Last Name
Email
Phone
Message (Optional)
OR CALL
1.877.896.6727

Alberta Mortgage Calculator Examples

160 Cowley Bay! Custom Built Home Beautifully Hidden Away In A Culda-Sac Sitting On A Massive 7,318Sqft Pie Shaped Lot With Mature Trees And Room For That Growing Family. As You Enter Your Double Front Doors You Will Be Pleasantly Surprised With Your Unique Floor Plan; A Large Foyer Area Leads You To A Well Thought Out Custom Main Floor Plan. The Main Floor Also Includes A Large Office/ Bedroom A Two Piece Bathroom. Your Kitchen Boasts Updated Beautiful White Cabinets With Wood Finished Laminated Countertops, Giving You Ample Countertop And Cupboard Space And A Built In Cook Top ; A Gas Stove With Built In Oven And A Pantry Area. Your Kitchen Also Features Eat-Up Bar With Accent Lighting, Attached To The Dinette Are Giving Direct Access To Your Massive Backyard. Your Living Room Is Absolutely Stunning Providing Lots Of Natural Lighting With Large Windows Newer Flooring And Skylights. The Fireplace Area And Vaulted Ceilings Finish The Living Space Off Perfectly. The Living Room Vaults 16Ft To The Second Floor; The Second Floor Does Have An Area That Looks Down Into Your Living Space. Upstairs Your Master Bedroom Has Ensuite With Walk-In Shower + Large 6Ft Closet.A Large 4 Piece Bath & 2 More Oversized Bedrooms With 6Ft Closets. Lots Of Details To See With This Custom Built Home. The Basement Is Partially Developed With A Drywalled Bedroom, The Basement Also Includes Laundry Facilities And Tons Of Room For A Recreation Room And Bathroom Area Call Today For Your Viewing (Id:23934)
CALL1.877.896.6727
Property Price
$469,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$23,495
Mortgage Insurance ($)
$17,856
Mortgage Required ($)
$464,261
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$144
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$25,139
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$25,139
Monthly Payment
$2,658
2 Bedroom Legal Basement Suite......Affordable...1813 Square Feet Brand New House. Separate Entrance To Basement. Comes With 2 Bedroom Legal Basement Suite With Separate Entrance, Kitchen And Full Bathroom. Basement. Open Floor Plan With Huge Living Room With Huge Size Window 8Ft High Front Entrance Door. Electric Fireplace With Mantle And Wood Work. Custom Kitchen With Huge Dinning Area. Touch Ceiling Cabinets With Built In Hood Fan. Soft Close Doors And Drawers With Quartz Counter Tops. Built In Appliances Option With Gas Cook Top. Main Floor Powder Room. Bonus Room On Second Floor With Three Bedrooms. Master Ensuite Has Custom Shower. Under Mount Sink With Premium Quartz Counter Tops. Upgraded Interior Finishes With Maple Hand Rail To The Second Level. Double Doors And Feature Wall In Master Bedroom. Under Construction. Pictures Taken From Similar Listing. . Double Car Parking Pad In The Back. Premium Siding And Stone. Much More.... (Id:23934)
CALL1.877.896.6727
Property Price
$569,000
Minimum Down Payment (%)
5.61%
Minimum Down Payment ($)
$31,900
Mortgage Insurance ($)
$21,484
Mortgage Required ($)
$558,584
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$164
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$33,564
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$33,564
Monthly Payment
$3,198
Meticulously Upgraded & Maintained...Your Upscale Lifestyle Awaits At This Penthouse Suite, Located In Sherwood Parks Premiere Adult Complex: The Sierras. This Beautiful Double Unit Features 9' Ceilings, 2 Bedrooms, 2 Baths, Two Parking Stalls & Two Storage Rooms In The Underground Parkade, Plus An Additional Storage Room In-Suite, With Separate Laundry Room. Enjoy Custom Millwork, Granite Throughout, Engineered Hardwood. The Primary Bedroom Leads To An Adjoining Den / Office And Also Boasts A Walk-In Closet With Built-In Cabinetry, Sumptuous 5-Piece Ensuite. The Double-Long Balcony Can Be Accessed From The Den Or The Living Room. Host All The Family In The Spacious Formal Dining Room. Beautiful Maple Kitchen Has Induction Range, Pantry, Peninsula With Seating. The Sierra's Offers A Total Lifestyle Package: An Indoor Pool, Hot Tub, Exercise Room, Carwash, Workshop, Craft Room, Party Room, Library, Overnight Guest Suites. Condo Fee Covers All Utilities: Heat, Power, Water, Air Conditioner, Nat Gas For Fireplace & Barbeque. (Id:23934)
CALL1.877.896.6727
Property Price
$650,000
Minimum Down Payment (%)
6.15%
Minimum Down Payment ($)
$40,000
Mortgage Insurance ($)
$24,400
Mortgage Required ($)
$634,400
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$180
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$41,680
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$41,680
Monthly Payment
$3,632
Only 7 Months Old This Custom Fully Finished High Mark Home (Hendrix Limited) Floorplan Is Ready For Its New Owner. This Modified Bilevel Plan Now Has 5 Bedrooms & 4 Bathrooms. All The Headaches Of Design & Construction Is All Been Done Here So You Can Just Move Right In And Enjoy This Home Immediately. Tons Of Custom Features: Glassed In Wine Room In The Fully Finished Basement With Bar Sink & Cabinetry, Upgraded Flooring In The Fully Finished Basement, All Lower Cabinetry In The Kitchen Has Been Changed To Offer Large & Small Drawers (Tons More Storage & Easy Accessibility), Walk In Pantry With Additional Shelving, All Lights Throughout Have Had Dimmer Switches Added, The Triple Car Garage Is Fully Taped, Painted And Heated With A Stainless Garage Sink & Amazing Custom Built In Closets & Built In Shoe / Boot Shelving, Large Concrete Rv Parking Pad (11 Ft Wide & 66 Ft Long), Air Conditioning, Barbeque Gas Line On The Fully Covered Deck. The Design Of This Home Is Highly Desirable With 2 Nice Sized Bedrooms & A Hotel Like Bathroom (Pocket Door Between Sink / Vanity & Toilet / Tub Area) Privately Located Up Some Stairs Over The Garage. The Master Suite Is Well Designed & On The Main Floor With A Beautiful 5 Piece. Ensuite. The Adjacent Separate Laundry Room Has The Perfect Location. There Is The Guest Powder Room Just Off The Kitchen. The Kitchen Is A Chef's Dream Being Large, Tons Of Counter & Cabinet Space To Work With & Brand New High End Ge Cafe Appliances. The Kitchen Is Open To The Spacious Dining Area And Living Room Which Is Perfect For Entertaining. The Main Floor Is Very Eye Catching Because It Is A Lovely Open Concept Design With High Beamed Ceilings & Large Windows. With No Rear Neighbors It Is Wonderful To Enjoy The Brightness & Privacy This Home Offers. There Is A Gas Fireplace In The Living Room Area With Rock Finishing & Built In Display Cases On Each Side. The Basement Is Completely Developed & Thoughtfully Laid Out - There Are Two Bedrooms Both With Walk In Clos Ets, A Good Size 4 Piece. Bathroom Behind Barn Doors Which Creates An Area For Complete Privacy. The Large Family Room Has Several Good Size Windows & The Custom Built Fully Glassed Wine Room With Sink Bar Area. High Quality Vinyl Plank Flooring Is Throughout The Basement, Up The Stairs Into The Front Tiled Landing. The Large Front Entrance Area Accesses The Spacious Triple Car Garage That Is Fully Finished And Heated. Custom Closets & Shoe Racks Have Been Built In The Garage. This House Feels Brand New & Is Probably Better Than Buying New With Every Thoughtful Thing Done ! No Hassle And No Waiting!! Absolutely A Must To Take A Look At This Home If You Are Looking At New! (Id:23934)
CALL1.877.896.6727
Property Price
$839,900
Minimum Down Payment (%)
7.02%
Minimum Down Payment ($)
$58,990
Mortgage Insurance ($)
$31,236
Mortgage Required ($)
$812,146
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$218
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$60,708
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$60,708
Monthly Payment
$4,650
Custom Built In Laurel 3040 Square Feet With Legal Basement 2 Bed, 1 Bath, Living/ Dinning, Kitchen, Laundry And 2Nd Basement 1 Bed/ Walking Closet, 1 Bath And Storage Room Offering 9 Ceiling Entire House, On The Main Floor Living Area With Open To Above Ceiling, Main Floor Room & Full Bathroom, Massive Chief Kitchen With Big Island, Spice Kitchen With Gas Cooktop, Throughout The House Quartz Countertops, Family Room With Electric Fireplace, Dinning Area With Easy Access To Deck, Upstairs Master Bedroom With Comfort Ceiling, Walk In Closet, 5Pcs Custom Shower & Free Standing Tub, 2 Additional Great Size Rooms & 3Pcs Bath, 2Nd Master Bedroom With Its Own 4Pcs En-Suite And Good Size Bonus Room, Laundry & Balcony With Beautiful White Color Railing Legal Basement Suite With 2 Bed And 3Pcs Bath And Walk In Closet, Landscaping Finished With Beautiful Tree And Shrubs Must See!!!!!! (Id:23934)
CALL1.877.896.6727
Property Price
$929,900
Minimum Down Payment (%)
7.31%
Minimum Down Payment ($)
$67,990
Mortgage Insurance ($)
$34,476
Mortgage Required ($)
$896,386
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$236
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$69,726
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$69,726
Monthly Payment
$5,132

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.