Calgary Mortgage Calculator
By Evans Dobey, REALTOR® | Work out your monthly payment, CMHC insurance and closing costs in seconds. No email needed.
Change the numbers below to see roughly what a home in Calgary or the area would cost you each payment. It includes CMHC insurance if you’re putting down less than 20%, plus Alberta’s land title fees. Everything updates as you type, with no forms to fill out. For more on financing and closing costs, take a look at my How to Buy a Home in Calgary guide, my First-Time Buyer Costs breakdown, and my First-Time Home Buyer Programs guide.
Your Numbers
Calgary's CREB® Total Residential benchmark, October 2026 - enter your own target price.
= $56,420
5-yr fixed insured rate example, Sept 2026 - use your own quoted rate for an accurate number.
For an insured mortgage (less than 20% down), 30-year amortization is available if you are a first-time buyer OR are purchasing a newly built home (either qualifies, effective Dec. 2024), and adds a 0.20% CMHC premium surcharge, already included above.
+ Add property tax & condo fees (optional)
+ This is a newly built home (GST may apply)
New builds are subject to 5% GST. First-time buyers get a full rebate on new homes up to $1,000,000, phasing out to zero at $1,500,000 (for purchase agreements dated May 27, 2025 or later). Whether GST is already included in the builder’s advertised price varies, so check your purchase agreement.
Closing Costs
Down payment + land title fees (plus net GST, if you checked "newly built home" above). Add roughly $1,200–$1,800 for legal fees and disbursements, and $400–$700 for a home inspection. See my First-Time Buyer Costs breakdown for the full itemized list.
GST (New Construction)
Over the Life of This Mortgage
This calculator provides a rough estimate for planning purposes only, based on the numbers you enter. It is not a mortgage pre-approval, a rate quote, or a lending decision, and actual amounts from a lender will differ. CMHC premium tiers, Alberta land title fees, and amortization rules reflect information published as of September 2026 and are subject to change.
How this calculator works
This calculator does the math the same way a Canadian lender does. Fixed mortgage rates in Canada compound twice a year, not monthly, so it converts your annual rate into a true monthly, bi-weekly or weekly rate before working out your payment. A lot of simple calculators skip this step, which can make your payment look a little lower than it is.
If your down payment is under 20%, CMHC mortgage default insurance gets added automatically using the current federal rates: 4.00% with 5–9.99% down, 3.10% with 10–14.99% down, and 2.80% with 15–19.99% down. Insured mortgages are only available on homes under $1.5 million. Above that, you need at least 20% down. The 30-year amortization option is only for first-time buyers and new builds on insured mortgages, under the rule change that took effect in December 2024.
Closing costs are based on Alberta’s actual Land Titles Office fees: $50 plus $5 for every $5,000 of value (or part of it), charged once on the purchase price and once on the mortgage. Unlike Ontario or B.C., Alberta doesn’t have a provincial land transfer tax. My First-Time Buyer Costs breakdown has the full list, including legal and inspection costs that this calculator doesn’t estimate.
Common questions
Have a question that isn’t here? Check the real estate glossary or ask me and I’ll get back to you, usually the same day.
Is this calculator accurate enough to rely on?
It uses proper Canadian compounding and the current CMHC and Alberta land title formulas, so it’s more accurate than a basic “price times rate” calculator. It’s still an estimate based on what you type in, though, not a lender’s approval. Your actual rate, insurance and payment will depend on your lender, your credit and the property.
Why does my payment change when I switch to Accelerated Bi-Weekly?
Accelerated bi-weekly payments are half of your monthly payment, but you make 26 of them a year instead of 24. That works out to one extra monthly payment every year. The extra money goes straight to your principal, so you pay off your mortgage sooner and pay less interest overall. The calculator shows you how much.
Does this include my property tax and condo fees?
Only if you add them under “Add property tax & condo fees.” Depending on your down payment and lender, your lender might also collect property tax monthly and pay it for you. That changes what you pay them each month, but not the core mortgage math here.
What if my down payment is below the minimum shown?
The calculator will still show you the numbers so you can see the impact, but you’ll get a warning. Canadian rules require at least 5% down on the first $500,000 of the price and 10% on the part above that, up to $1.5 million. To qualify, you’d need a bigger down payment or a lower price range.
What's the difference between amortization and my mortgage term?
Your amortization is the full length of time it takes to pay off the mortgage, up to 30 years in this calculator. Your term is much shorter, usually 5 years, and it’s how long your interest rate is locked in. When the term ends, you renew (often at a new rate) for another term, and keep going until the mortgage is paid off. The 4.09% rate in this calculator is an example for a 5-year term, not a rate that lasts the whole amortization.
Can you get me an actual rate quote or pre-approval?
Yes. I work with mortgage professionals I trust and can connect you with them directly, or go through these numbers with your real financial situation. Reach out and I’ll help you turn this estimate into an actual pre-approval.
Related guides
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