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

Breathtaking, Unobstructed Views Of The Heritage Wetlands Abound In This Impeccable, Upgraded Santos Built Bungalow. Main Floor Highlights: Flex Room / Den, Brazilian Cherry Hardwood, 2-Tone Solid Cherry Cabinets In Island Kitchen, Eating Bar, High End Stainless Steel Appliances, Granite Counters, Pendant Lighting, Walk In Pantry. Dining Area Adjacent To The Upper Deck, Great Room With 10' Ceilings & Floor To Ceiling Gas Fireplace. Master Suite With Wetland Views, Opulent 5 Pce Ensuite & Walk In Closet. Walk Out Level Boasts In Floor Heat, Games Room, Family Room, 2 Bedrooms, Study Nook, Full Bath, Storage, A Beautifully Finished Space. South Facing Yard Has Been Nominated For Awards! Alpine Theme Landscaping With Water Feature, Paving Stone Patio, Outdoor Kitchen With Gas Barbeque, Granite Counters & Custom Cabinets, Maintenance Free Patios & Deck. Retractable Awning, Stairs From Deck To Patio, Irrigation System, Led Yard & Stair Lighting. Outdoor Under Stair Storage. Beautiful Interior & Exterior Design. A Must To View. (Id:23934)
CALL1.877.896.6727
Property Price
$849,900
Minimum Down Payment (%)
7.06%
Minimum Down Payment ($)
$59,990
Mortgage Insurance ($)
$31,596
Mortgage Required ($)
$821,506
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$220
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$61,710
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$61,710
Monthly Payment
$3,299
Located On A Quiet Tree Lined Street In Gorgeous Grandin, This Renovated Bi-Level Is Sure To Impress! Offering A Spacious Open Concept Main Floor Layout With Hardwood Floors, Renovated Kitchen With Huge Central Island, Quartz Countertops, Stainless Steel Appliances, And Bay Window Overlooking The Backyard Oasis! The Living Room And Dining Room Are So Spacious And Have More Than Enough Room To Host Huge Family Gatherings. Completing The Main Floor Is The 4 Piece Bathroom, 3 Large Bedrooms Including The Master With 3 Piece Ensuite And Walk-In Closet. The Basement Is Fully Finished With A Bright Family Room Hosting A Brick Wall Built-In And Gas Fireplace, Adorable Under The Stairs Playroom For Kids, The 4Th Bedroom, Laundry Room, And 2 Piece Bath. Access To Your Double Garage With Tandem Workshop Is Directly Into Your Basement Mudroom Area. The Backyard Features Lush Trees And Colourful Blooms, A Private Deck & Walkway Area, Hot Tub And Gas Barbeque Hook Up. Nothing For You To Do But Move In And Enjoy! (Id:23934)
CALL1.877.896.6727
Property Price
$489,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$24,495
Mortgage Insurance ($)
$18,616
Mortgage Required ($)
$484,021
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$148
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$26,143
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$26,143
Monthly Payment
$1,944
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
$684,000
Minimum Down Payment (%)
6.35%
Minimum Down Payment ($)
$43,400
Mortgage Insurance ($)
$25,624
Mortgage Required ($)
$666,224
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
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
$2,675
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
$560,000
Minimum Down Payment (%)
5.54%
Minimum Down Payment ($)
$31,000
Mortgage Insurance ($)
$21,160
Mortgage Required ($)
$550,160
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$162
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$32,662
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$32,662
Monthly Payment
$2,209
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
$332,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$16,645
Mortgage Insurance ($)
$12,650
Mortgage Required ($)
$328,905
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
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
$1,321

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.