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 Completely Developed Gem Won't Last Long. Close To Schools And Shopping. This Is A Perfect Turn Key Starter Or Excellent Revenue. Two Bedrooms And A 4Pc Bathroom With Open Kitchen And Living Space On The Main Floor. The Lower Level Includes A Well Sized Family Room, Two Bedrooms And One 4Pc Bathroom. Some Recent Upgrades To The Basement Complete With Soundproofing Between The Two Levels . The Yard Is Fully Landscaped / Fenced. Triple Car Parking In Front Of The Home Give Lots Of Off Street Parking. (Id:23934)
CALL1.877.896.6727
Property Price
$275,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$13,750
Mortgage Insurance ($)
$10,450
Mortgage Required ($)
$271,700
Best Mortgage Rate (%)
1.35%
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
$15,355
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$15,355
Monthly Payment
$1,067
Welcome To This Beautifully Upgraded 2 Storey Townhome In Grandin Village! Offering Over 1530 Square.Ft. Of Fully Developed Living Space, You Will Be Impressed From Your First Step In The Door! Very Nicely Upgraded Kitchen With Stainless Steel Appliances And A Huge Dinette With A Large Bright Window. The Social Living Room With Fireplace Is Spacious And Open To The Dining Room Which Has Patio Access To The Large Deck And Private, Fully Fenced Yard With Mature Trees. Upstairs To The Three Spacious Bedrooms And The Upgraded 4 Pce Main Bathroom. The Large Master Bedroom Has Two Closets And A Two Pce Ensuite. The Fully Finished Basement Is The Perfect Place To Kick Back And Relax In The Large Family / Recreation Room. Plenty Of Room For A Games Area As Well. Laundry Room, Utility Room And Storage Space Are Downstairs As Well. Completing The Package Is A Single Attached Garage! Located In The Heart Of St. Albert, Walking Distance To The Farmer's Market And Many Amenities, This Home Is Where You Want To Be! (Id:23934)
CALL1.877.896.6727
Property Price
$209,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$10,495
Mortgage Insurance ($)
$7,976
Mortgage Required ($)
$207,381
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$92
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$12,087
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$12,087
Monthly Payment
$814
Honey Stop The Car! This Stunning Bungalow Built In 1973 By Ace Lange Homes Located In A Cul De Sac Is A Must See, This Home Features Over 2700 Square Feet Just On The Main Floor Alone And Yes Believe It Or Not, A Indoor Pool, Hot Tube And A Massive Pie Shaped Lot Of 980Sq- Meters. Main Floor Features A Massive Living-Room With Gas Fireplace, Formal Dining-Room, Cozy Kitchen, 3 Bedrooms With The Master-Bedroom Featuring Its Own 3Pc Bathroom With Stand Up Shower, Another Full Bathroom For Family Or Guest Use And As Well As Indoor Pool With Hot Tub, A All Season Sitting Room And Laundry Room, Basement Features Another Large Family Room With Wood Fireplace, Bar Area, 2 Bedrooms. This Home Is Way Below City Assessment Of $474,000. This Home Needs Cosmetic Work If You Choose Or Leave It As It Is. Location Is Priceless As It Backs On To The Park And Schools Are Only A 10 Min Walk. Welcome Home, Lets Make Your New Home Or Investment Property Partially Of This Address. (Id:23934)
CALL1.877.896.6727
Property Price
$399,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$19,950
Mortgage Insurance ($)
$15,162
Mortgage Required ($)
$394,212
Best Mortgage Rate (%)
1.35%
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
$21,580
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$21,580
Monthly Payment
$1,548
Beautiful Fully Developed Modified Bi-Level In Signature Falls! 4 Bedroom, 3 Bathroom Home Sits On A Large Lot That Is Landscaped To Perfection! Right Away You Will Notice & Appreciate The Gorgeous Curb Appeal This Home Offers! Inside You'll Find Vaulted Ceilings, A Large Fully Renovated Open Concept Kitchen, Trendy Shiplap, Modern Updated Light Fixtures & Recently Painted Walls! All Your Pinterest Board Dreams Come To Life As You Walk Throughout This Home!! The Kitchen Features Stainless Steel Appliances, A Dual Temperature Oven, Subway Tile Backsplash, Kitchen Island With Quartz Countertops, Garburator & 20 Gal Deep Sinks! The Dining Areas Sliding Glass Doors Lead You Right Onto The Deck Under The Covered Pergola. A Little Oasis, Perfect For Entertaining, Bbqing & Relaxing. The String Lights Hung From The Pergola Create An Amazing Atmosphere When The Sun Goes Down! Carry On Into The Living Room & Cozy Up Next To The Fireplace. The Large Primary Bedroom Sits On A Private Level With Big Windows Allowing Natural Light In & A Walk-In Closet. Featuring A 4 Piece Ensuite With A Soaker Tub & Large Vanity With A Makeup Spot! A Guest Bedroom, Office Space & Full Bathroom Are Also On The Main Floor. In The Fully Developed Basement, You'll Love The New High-End Plush Carpet & Large Space For Hanging Out, Great For Watching Movies! Another Bedroom & Recently Renovated Bathroom, As Well As Laundry & Storage Space, Make This Basement Complete. Head Back Outside & You Will See A Large 6Ft Wide Custom Side Gate Allowing You To Safely Store All Your Toys In The Backyard Shed! Don't Worry About Taking Up Room In The Shed, Under The Deck There Is Ample Storage Space To Store Yard & Garden Tools! This Backyard Has Been Thoughtfully Landscaped & Is Something To Appreciate In Person! There's An Area For A Fire Pit That Is Graveled In So You Don't Need To Worry About Wrecking Grass, Also Great If You Have Dogs! You Can Enjoy Dining Outside, With This Bonus Dining Area! This Large Are A Features Paving Stones, Keeping It Clean & Tidy! This Property Also Features A Double-Car Heated Garage! Lovely, Quiet Location Within Walking Distance Of Parks & Basketball Court! What Doesn't This Home Have?? Come Take A Look At This Amazing, Pinterest, Dream Home Today! (Id:23934)
CALL1.877.896.6727
Property Price
$462,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$23,100
Mortgage Insurance ($)
$17,556
Mortgage Required ($)
$456,456
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$142
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$24,742
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$24,742
Monthly Payment
$1,793
This Well Loved Home Is Bursting With Pride Of Ownership! Beautifully Updated With 1220 Square Feet Plus A Fully Finished Basement. Gorgeous Hardwood Floors, A Spacious And Bright Living Room With Wood Burning Fireplace, And An Open Dining Area. Gorgeous Kitchen! It Features Newer Ceramic Tile Flooring, Gorgeous Granite Counter Tops Plus A Large Island, Stainless Steel Appliances & An Abundance Of Cabinetry. There Are 3 Bedrooms On The Main All With Newer Carpets, A Renovated 4 Piece Bathroom And A 2 Piece Ensuite In The Master Bedroom. Very Cool Rustic Themed Basement With Wood & Brick Accents, A Second Wood-Burning Fireplace, Wet Bar, 4Th Bedroom, Laundry & Storage Space. Oversized 22X26 Detached And Heated Garage. Lovely And Private Backyard With A Pretty Patio, Playhouse & Shed. High Ticket Items: Newer Shingles, Newer Siding And Insulation, Triple Pane Windows, Plus A New Hot Water Tank. Wonderful Location! You Can Walk To Schools, Parks & Shopping! Visit Realtor Website For Additional Information. (Id:23934)
CALL1.877.896.6727
Property Price
$429,707
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$21,485
Mortgage Insurance ($)
$16,329
Mortgage Required ($)
$424,551
Best Mortgage Rate (%)
1.35%
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
$23,121
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$23,121
Monthly Payment
$1,667

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.