Mortgage Calculator
Run the numbers
Estimate your payment with Canadian semi-annual compounding, default insurance and condo fees included.
Monthly payment
$0
- Mortgage amount
- Mortgage default insurance (est.)
- Total interest over amortization
- Monthly cost incl. condo fees
Estimates only. Uses Canadian semi-annual compounding and an approximate default-insurance premium for down payments under 20%. Alberta has no land transfer tax, but budget for legal fees, title insurance and an inspection. Actual rates, premiums and payments are set by your lender; speak with a mortgage professional before making decisions.
Good to Know
Mortgage basics for Canadian buyers
Minimum down payment
5% on the first $500,000, 10% on the portion above that, and 20% on homes priced at $1.5 million or more.
Default insurance
With less than 20% down, lenders require mortgage default insurance. The premium is usually added to your mortgage balance.
The stress test
Lenders qualify you at a rate higher than your contract rate. Get pre-approved early so you shop with a realistic budget.
Rules and rates change. This page is general information only. Confirm current requirements with a licensed mortgage professional.
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