What would your payment be?
Enter a price, down payment and rate to estimate your payment, built on how Canadian mortgages actually work.
- Mortgage payment$0
- Property tax$0
- Condo fees$0
- Mortgage amount$0
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Real clients · real homes
Numbers are easier with a guide
Short videos on what to watch for when you buy, and what clients say about how I explain the money side.
From recent moves
What clients say
★★★★★“He guides you through the home-buying process as seamlessly as possible. He focuses on finding a property that suits your lifestyle rather than letting emotions drive the decision.”
Blake Baron · Google review
★★★★★“Professional, helpful, and made the whole process easy and stress-free. I would definitely recommend George to anyone looking to buy or sell a home.”
Josh Cook · Google review
★★★★★“Knowledgeable, professional, and always available to answer my questions. I never felt pressured, and he genuinely had my best interests at heart every step of the way.”
Tessa Andersen · Google review
Buying in Alberta: the basics
A few things that shape your real payment in Canada, so the numbers above make more sense.
Minimum down payment
5% of the first $500,000, 10% of the portion from $500,000 to $1.5 million, and 20% for homes $1.5 million and up.
Mortgage insurance
With less than 20% down, you'll need mortgage default insurance. The premium is usually added to your mortgage.
The stress test
Lenders check that you could still afford payments at a higher rate than your actual one, which affects how much you can borrow.
Amortization
Most Canadian mortgages are paid over 25 years. Some first time buyers and new build purchases can qualify for 30.
Closing costs
Budget for legal fees, title insurance and adjustments. Alberta has no land transfer tax, just land title registration fees.
Get pre approved
A pre approval shows what you can really borrow and locks in a rate while you shop.
Estimates only. Rules and rates change, so confirm your numbers with a mortgage professional. I'm happy to connect you with one.
Know your budget? Let's find the home.
Browse listings or talk through your numbers with me.
Mortgage Help
Down Payment
The typical rule of thumb is to pay 20 percent of the home's price as your down payment, although some mortgage loans require as little as 3.5 percent down. Your down payment reduces the total amount of your mortgage loan, so the more money you put down, the lower your payments will be - or the more expensive a house you can buy.
Loan Term
Your loan program can affect your interest rate and monthly payments. Choose from 30-year fixed, 15-year fixed, and more in the calculator.
Loan Type
There are several types of mortgage loans, but the most commonly used are fixed-rate and adjustable-rate loans. Fixed-rate loans have the same interest rate for the entire duration of the loan. That means your monthly payment will be the same, even for long-term loans, such as 30-year fixed-rate mortgages. Two benefits to this loan type are stability, and being able to calculate your total interest up front. Adjustable-rate mortgages (ARMs) have interest rates that can change over time. Typically they start out at a lower interest rate than a fixed-rate loan, and hold that rate for a set number of years, before changing interest rates from year to year. For example, if you have a 5/1 ARM, you will have the same interest rate for the first 5 years, and then your interest rate will change from year to year. The main benefit of an adjustable-rate loan is starting off with a lower interest rate.
Interest Rate
This field is pre-filled with the current average mortgage rate. Your actual rate will vary based on factors like credit score and down payment.
Property Tax Rate
The mortgage payment calculator includes estimated property taxes based on the home's value. You can edit this in the advanced options.
Home Insurance
Home insurance or homeowners insurance is typically required by lenders, depending on the loan program. You can edit this number in the mortgage calculator advanced options.
HOA Fees
A homeowners association fee (HOA fee) is an amount of money that must be paid monthly by owners of certain types of residential properties, and HOAs collect these fees to assist with maintaining and improving properties in the association.