Mortgage calculator
Estimate your mortgage payments
Adjust the price, down payment, rate and amortization to see what fits your budget.
Monthly payment
$0
- Mortgage amount
- Mortgage default insurance (est.)
- Total interest over amortization
- Total of all payments
Estimates only. Uses Canadian semi-annual compounding and an approximate default-insurance premium for down payments under 20%. Actual rates, insurance premiums and payments are set by your lender. Speak with a mortgage professional before making decisions.
Minimum down payment
5% of the first $500,000, plus 10% of the portion between $500,000 and $1.5 million. Homes priced at $1.5 million or more require 20% down.
Mortgage default insurance
With less than 20% down, lenders require default insurance (from CMHC, Sagen or Canada Guaranty). The premium is usually added to your mortgage.
Don't forget closing costs
Budget roughly 1.5% of the price for legal fees, title insurance, inspection and adjustments. Alberta has no land transfer tax.
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