Mortgage calculator · Edmonton & Alberta
What will it cost each month?
Payments start at 4.84% — Ratehub’s lowest advertised 5-year fixed, verified Oct 16, 2026. Your bank may offer less: type your own rate.
Your monthly payment
Type a home price to see the monthly payment.
- Mortgage
- Property tax
- Condo fees
More ways to pay
Your down payment, amortization and rate follow you to our builder partners’ pages and every MLS® listing page on this device — set them once.
Down payment
Canada’s minimum is 5% of the first $500,000 and 10% of the rest; at $1.5 million or more it is 20% of the whole price, and mortgage insurance isn’t available. Under 20% down, CMHC insurance is added to the mortgage. A lower down payment is raised to the minimum, and the answer says so.
Amortization
Years to pay it offWith less than 20% down the mortgage is insured, and the limit is 25 years — 30 years only for first-time buyers and anyone buying a newly built home (since December 15, 2024), with CMHC’s premium 0.20% higher.
Interest rate Your rate
Starting point: 4.84% — the lowest advertised 5-yr fixed among major Canadian lenders, via Ratehub, verified October 16, 2026. Banks often quote less — type the rate you were offered, and every payment on our pages uses it (kept on this device only).
Property tax & condo fees
Added to the total monthly cost
Property tax starts at Edmonton’s 2026 residential rate, 1.036% of assessed value (City of Edmonton), on the price — type your own if you know it.
New builds near this price
New builds from our builder partners near this price, with your down payment, amortization and rate.
Reading our builder partners’ list…
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
Copyright 2026 by the REALTORS® Association of Edmonton. All Rights Reserved.
MLS® System data may be used by consumers only for the purpose of buying or selling real estate.
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Start from a monthly budget
Same down payment, years and rate — we work the price out backwards.
How the numbers move
| Down payment | 25 years | 30 years |
|---|
Would a lender say yes?
The stress test and CMHC’s debt limits, worked out for this home.
Lenders qualify a mortgage at the higher of your rate + 2% or 5.25% — the stress test (OSFI; the Financial Consumer Agency of Canada says it applies to insured and uninsured mortgages). CMHC’s limits: housing costs — the payment at that rate, property tax, heat and half of any condo fees — up to 39% of gross household income, and 44% once other debts are added. A lender decides; this is a guide, not an approval.
Your mortgage over time
What you still owe at the end of each year, at today’s rate (it changes when you renew).
Questions people ask
What is the minimum down payment in Canada?
For a home you will live in: 5% of the first $500,000 and 10% of the part above it, up to $1,499,999. At $1.5 million or more it is 20% of the whole price, and mortgage insurance is not available. These rules have applied since December 15, 2024 (Department of Finance Canada). On a $600,000 home the minimum is $35,000. If you type less, this calculator uses the minimum and says so.
How much does CMHC mortgage insurance cost?
With less than 20% down, the mortgage must be insured. CMHC’s premium is a share of the mortgage: 4.00% with 5% to 9.99% down, 3.10% with 10% to 14.99% and 2.80% with 15% to 19.99%, plus 0.20% for a 30-year amortization. It is usually added to the mortgage and paid off with the payments — it can also be paid in full at closing. This calculator adds it to the mortgage.
Who can get a 30-year amortization?
With less than 20% down, the mortgage is insured and the limit is 25 years — except for first-time home buyers and anyone buying a newly built home, who can choose 30 years (since December 15, 2024), with CMHC’s premium 0.20% higher. If you choose 30 years with less than 20% down, this calculator says that rule under the answer. With 20% or more down the mortgage is not insured, and the amortization is set with your lender.
Why does this calculator compound twice a year?
Fixed-rate mortgages in Canada are normally quoted with interest compounded twice a year, not monthly. That makes the monthly payment a little lower than an American-style calculator shows for the same rate — for example $639.81 a month on $100,000 at 6% over 25 years.
Where does the starting rate come from?
It is the lowest advertised 5-year fixed rate among Canada’s major lenders, as listed on Ratehub, shown with the date it was last verified. Banks often quote less to a strong file, so type the rate you were offered — it then follows you to our builder partners’ pages and the MLS® listing pages on this device.
Is the monthly payment all I’ll pay?
No. The monthly payment is principal and interest. The total monthly cost here adds the property tax and condo fees you enter. Home insurance, utilities and upkeep are extra, and lenders also check that you would qualify at a higher rate (the stress test).
Your guide
Fadi Georgi, REALTOR®
Pre-approval, the right lender, and homes that fit the number you’re comfortable with — we connect the three and walk you through it.
About these numbers. Estimates only, with Canadian semi-annual compounding and the same rules as every payment on our site: Canada’s minimum down payment, CMHC insurance (2.80–4.00%, +0.20% on 30 years) added under 20% down. The starting rate is the lowest advertised 5-yr fixed among major Canadian lenders, via Ratehub (verified October 16, 2026), unless you set your own. Property tax starts at Edmonton’s 2026 residential rate, 1.036% of assessed value (City of Edmonton). Bi-weekly is the monthly payment × 12 ÷ 26; accelerated bi-weekly is half the monthly payment every two weeks. Total interest and the balance over time keep the rate you set for the whole amortization; in real life the rate is reset at each renewal. Not a mortgage approval or a rate offer — confirm with a licensed mortgage professional. 7th Avenue Realty (MaxWell Polaris), Edmonton.