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

This Two Bedroom Plus A Den Condo Has Been Totally Renovated. You Walk Into This Lovely Home With Nothing To Do But Move In!! You Have All New Stainless Steel Appliance Package, New Quartz Counter Tops, With Undermount Sink, New Vinyl Planking Flooring, New Windows And Doors, New H / With Tanks, New Kitchen Cabinets, New Tile Backsplash. The Open Concept Has The Kitchen / Dining & Living Area Is Great For Your Family Or Entertaining. There Is A Large Den Off The Dining Room With A New Murphy Bed For The Guests Or A Third Bedroom. Sliding Doors Leads Out To Your Outdoor Living Space / Patio Good Size With Storage Area. Down The Hall You Have Another Good Sized Bedroom And Also A Large Master Bedroom Plus A New 4 Piece Ensuite For Your Own Private Bath! This Unit Is Close To The Big Marble Go Centre, Shopping And Schools.. This Condo Comes With Two Assigned Parking Stalls, Come Enjoy The Carefree Condo Living.. Call Your Favorite Realtor For Your Private Showing.. (Id:23934)
CALL1.877.896.6727
Property Price
$182,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$9,145
Mortgage Insurance ($)
$6,950
Mortgage Required ($)
$180,705
Best Mortgage Rate (%)
2.80%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$87
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$10,732
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$10,732
Monthly Payment
$837
Don't Let This Opportunity Pass You By! Located On A Quiet Street & Walking Distance To Schools, This Renovated 1,087 Square Feet Bungalow With 4 Bedrms & 2.5 Bathrms Is Perfect For Any Family Or 1St Time Home Buyer! Recent Upgrades Included: Brand New Shingles (June 2022); Newer Triple-Pane Windows; Updated Panel (Permitted) With Rv Plug; New Laminate Flooring; Doors / Trim / Baseboards - The List Goes On! The Main Floor Begins With A Spacious Living Room; Dining Room & Functional Kitchen With New Stainless Steel Appliances Included A Brand New Airfryer Stove! The 3 Bedrms Included. A Large Primary With A 1 / 2 Ensuite. The Main Bathrm Has A Newer Tub & Tile-Surround / Vanity With Granite. The Fully Finished Basement Has A 4Th Bedrm; Brand New 3 Piece Bathrm With Modern Barn Door & A Huge Family Room With An Area For A Future Bar. The Large, Private Yard Is Beautifully Landscaped & Is Perfect For Entertaining With The Patio & 2 Gazebos. 24X26 Double Garage. New Fencing On One Side. The Perfect Location With Walking Distance To Shopping; Mall; Restaurants; Parks; Library (Id:23934)
CALL1.877.896.6727
Property Price
$429,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$21,495
Mortgage Insurance ($)
$16,336
Mortgage Required ($)
$424,741
Best Mortgage Rate (%)
2.80%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$136
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$23,131
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$23,131
Monthly Payment
$1,967
Discover This Amazing 2022 Dream Home Nestled On A Private Crescent! The Foyer Is Filled With Natural Light From Soaring Windows & Vaulted Ceilings. The Entrance Has A Main Floor Workstation. The Design Is Magnificently Open Included. A Large Living Room With Electric F / P, Built In Bench & Engineered Hardwood Into The Kitchen & Dining Nook. The Kitchen Has A Massive Island, 6 Burner Gas Stove, Custom Hood Fan Cover, Quartz Counters, Glass Display Cabinetry & A Hidden Walk In Pantry. Off The Dining Nook Is A Glassed In Office / Bar! Oversized Sliding Doors Lead Out To The 1 / 2 Open & 1 / 2 Covered Back Deck, Perfect For Summer. By The Entrance To The Garage, Discover A Spacious Mudroom With Extensive Built-In Cabinetry, A 1 / 2 Bath & A Trendy Laundry Room With A Stunning Round Window. The Primary Retreat Has Large Windows Overlooking The Yard & An Ensuite Fit For A Queen / King. Completing The Retreat Is A Walk In Closet. The Basement Is Finished With A Home Gym, Spa Bathroom With Sauna, Media Room, Wet Bar, 2 Bedrooms & More! (Id:23934)
CALL1.877.896.6727
Property Price
$1,325,000
Minimum Down Payment (%)
20.00%
Minimum Down Payment ($)
$265,000
Mortgage Insurance ($)
$0
Mortgage Required ($)
$1,060,000
Best Mortgage Rate (%)
2.80%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$315
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$266,815
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$266,815
Monthly Payment
$4,908
Available For Immediate Possession. This 1 Bedroom, 1 Bath Property Is An Excellent Investment Whether You Are Looking To Get Into The Market, Considering To Downsize Or Adding A Property To Your Rental Portfolio. From It's Large Bedroom, Bright Open Living Area , White Kitchen Cabinets With Matching Appliance This Is Great Space To Call Your Own. Garden Door To The Private Sitting Area On The Covered Deck. Located In The Quiet Neighbourhood Of Johnston Park And Close To Walking Paths, Amenities And Easy Access To Hi Way 2. (Id:23934)
CALL1.877.896.6727
Property Price
$129,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$6,450
Mortgage Insurance ($)
$4,902
Mortgage Required ($)
$127,452
Best Mortgage Rate (%)
2.80%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$76
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$8,026
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$8,026
Monthly Payment
$590
Welcome To 226 Cartaret Drive: This Lovely Semi-Detached Home Hosts 3 Bedrooms, 2 Bathrooms, Has Been Beautifully Maintained And Is Conveniently Located On All Major Bus Routes And Is Within Walking Distance Of Playgrounds, Schools And Trails! Enjoy The Sun On The Front Deck Or Cool Off In The Air Condition Inside The Home. An Open Floor Plan Is Found Inside Along With Big Windows, Neutral Paint Colours, Updated Floors And A Perfectly Laid Out Kitchen That Is Charming And Warm With A Tile Backsplash And Plenty Of Cupboard And Counter Space. The Main Suite Is The Only Bedroom Found On This Floor, And Is Connect To A Large Bathroom With A Dual Vanity And Loads Of Storage Space. Head Downstairs Into The Family Room Where You'll Find A Gas Fireplace For You To Cozy Up Next To In The Cooler Months Along With The 2Nd And 3Rd Bedroom And Another Full Bathroom. The Laundry Is Also Found On The Lower Level, And The Light Coloured Carpet Is In Great Condition And Will Keep Your Feet Warm. Utilize The Attached Garage For Storage Or Parking And Keep The Snow Off Your Vehicle During The Winter Months. The Driveway Can Comfortably Fit Two Vehicles, And You'll Never Hear A Sound Coming From The Neighbour Next Door So You Can Relax And Enjoy Peace And Quiet. A Great Starter Home, Investment Property Or Low Maintenance Retirement Plan, This Home Is Ready For New Owners To Enjoy. Schedule A Tour Today! (Id:23934)
CALL1.877.896.6727
Property Price
$409,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$20,495
Mortgage Insurance ($)
$15,576
Mortgage Required ($)
$404,981
Best Mortgage Rate (%)
2.80%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$132
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$22,127
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$22,127
Monthly Payment
$1,875

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.