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

Look No Further! This Huge Modified Bi-Level Home Is A Great Combination Of Functionality & Style. Located In O'brien Lake This 1699 Square Ft Home Offers Large Windows, Over-Sized Patio Doors & Vaulted Ceilings All Adding To The Bright, Open Feel. Spacious Entry Way Leads Up To Main Floor Which Has Front Office, Large Kitchen With Tile Back-Splash, Nice Sized Dining Area, Great Room With Gas Fireplace. Finishing Off The Main Floor Is Full Bath & 2 Bedrooms. Over The Garage Is The Large Master Bedroom With Walk In Closet, Large En-Suite With Double Sinks, Jetted Tub & Separate Tiled Rain Shower. Head To The Basement You Will Find There Are Plenty Of Windows, Just Under 10 Ft Ceilings. There Is One Large Bedroom, Family Room, Full Bath & Mechanical / Storage Room. This Home Has Includes A 24 X 26 Finished Garage With Floor Drain, Fully Landscaped & Fenced Yard. Close To All Amenities And Schools. Call Today To View This Wonderful Home! (Id:23934)
CALL1.877.896.6727
Property Price
$479,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$23,995
Best Mortgage Rate (%)
1.99%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$146
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$25,641
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$25,641
Monthly Payment
$2,005
Spectacular Home With A Great View And No Condo Fees! 1580 Sf Former Show Home Offers Beautiful Upgrades, A Single Attached Garage And Backs Onto A Gorgeous Pond. Stepping Into The Spacious Entryway, You'll Find A Bright Open Plan Featuring 9' Ceilings, Hardwood Floors And Large Windows. Chef's Kitchen Offers Granite, Corner Pantry, Stainless Steel Appliances And A Centre Island Overlooking The Spacious Living Room With A Beautifully Detailed Fireplace. Upstairs Offers A Versatile Bonus Room, 4Pc Bath, Convenient Laundry And Three Bedrooms With Tons Of Closet Space Including Large Master With 4Pc Ensuite. Basement Is Partially Finished And Offers Huge Potential With High-End Laminate Floors, Large Windows And Roughed-In Plumbing & Electric. Features Included: New Plumbing Fixtures, Electronic Door Locks, Built-In Speakers & More! Perfectly Situated In A Family Friendly Neighborhood On A Quiet Street With Privacy & Tranquil Views. Close To Schools, Parks & Shopping. Easy Commute To Cross Iron, Airport & Downtown Calgary. || Buy This House And We Will Buy Yours* || Your Home Sold Guaranteed* || Commissions As Low As $0* || Get $6000.00 Towards Your Home Purchase* || Every Buyer Gets A Free Home Warranty Guarantee* (Id:23934)
CALL1.877.896.6727
Property Price
$334,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$16,745
Best Mortgage Rate (%)
1.99%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$117
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$18,362
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$18,362
Monthly Payment
$1,400
Located In Prarie Creek, This 2 Bedroom Townhouse Is Conveniently Located Close To Transit, The Airport And Hwy 63! Featuring 2 Bedrooms Up, Attached Garage, Well Thought Out Kitchen And Living Room With Gas Fireplace, This Affordable Home Is Sure To Impress Those Looking To Get Into The Market For The First Time! Sold As Is / Where Is. Call Today To Book Viewing! (Id:23934)
CALL1.877.896.6727
Property Price
$135,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$6,750
Best Mortgage Rate (%)
1.99%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$77
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$8,327
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$8,327
Monthly Payment
$564
This 5 Bedroom 3 Bathroom Home Has Everything You Need! An Attached Double Garage That Leads To A Mud Room With Storage For Your Jackets And Shoes. 3 Bedrooms Upstairs, Including The Master Bedroom With An En Suite And Walk-In Closet. The Kitchen Has Plenty Of Cupboard Space And A Large Pantry And Is Open To The Dining Area And Living Room. The Living Room Also Features A Gas Fireplace, Perfect For Keeping Warm In The Colder Months! Downstairs Is A Spacious Family / Recreation Room And Two Additional Bedrooms. Plenty Of Storage With Under-Stair Storage And An Additional Storage Room. This Home Also Has A High Efficiency Furnace And Humidifier! Lots Of Space In This Home For A Family, Hosting Guests Or Renting Out Rooms! Lastly, The Deck Off Of The Dining Area Leads To The Good Sized Fully Fenced Yard Where You Can Spend Your Summers Hanging Out And Entertaining! (Id:23934)
CALL1.877.896.6727
Property Price
$403,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$20,195
Best Mortgage Rate (%)
1.99%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$131
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$21,826
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$21,826
Monthly Payment
$1,688
Welcome To Ranchlands Estates, The Perfect Place To Settle In And Relax. This Immaculate 3 Bedroom Plus An Office Bungalow Is Stylish And Offers A Warm Comforting Feel, All While Giving You Everything You Need In The Next Chapter. The Main Floor Features A Functional Open Concept With A Spacious Kitchen With Granite Counter Tops, Island, And Corner Pantry, The Perfect Living Room With Fireplace, Main Floor Laundry, And An Ideal Office To Set Up As You Wish. The Master Suite Has Everything You Want With A Walk-In Closet And Full En Suite. A Fully Finished Basement Plays Host To 2 Additional Bedrooms, And A Stunning Media / Theatre Room That Is Perfect For The Movie Nights, Or Your Favourite Sporting Events. The Double Attached Garage Just Adds To The Value In This Wonderful Home, Giving You Everything You Are After, Without Sacrificing A Thing. Add All The Positives That The Condo Lifestyle Brings, And You Might Have Just Found The Perfect Home. Check It Out Today. (Id:23934)
CALL1.877.896.6727
Property Price
$374,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$18,745
Best Mortgage Rate (%)
1.99%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$125
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$20,370
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$20,370
Monthly Payment
$1,567

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.