Payment estimate
Edmonton Mortgage Rate Calculator
See roughly what a home in Edmonton or the surrounding communities would cost you each month, bi-weekly or weekly. It uses Canada’s minimum down payment rules, adds CMHC insurance when you put down less than 20%, and starts from today’s posted rates.
Pre-approval opens Pineapple’s secure online application. Approval is not guaranteed and depends on lender review.
The Alberta Legislature reflecting pool, Edmonton
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Your estimate
Estimated monthly payment
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- Down payment
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- CMHC insurance premium
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- Total mortgage
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- Interest over the first 5 years
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- Balance after 5 years
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- Stress-test qualifying rate
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Estimates only, subject to lender approval. Results are for illustration and aren’t a rate quote, a pre-approval or a commitment to lend. Your actual rate, insurance premium and payment depend on your credit, income, property and the lender. Property taxes, condo fees, heating and closing costs aren’t included.
How this calculator works
Minimum down payment. In Canada you need at least 5% of the first $500,000 of the price and 10% of the portion between $500,000 and $1.5 million. Homes priced at $1.5 million or more need 20% down. The calculator warns you if your down payment falls short.
CMHC mortgage insurance. With less than 20% down, the mortgage has to be insured. The premium is a percentage of the mortgage (2.80% at 15–19.99% down, 3.10% at 10–14.99% and 4.00% at 5–9.99%), plus 0.20% for a 30-year amortization. It’s usually added to the mortgage rather than paid up front, and Alberta doesn’t charge sales tax on it.
25 or 30 years. Insured 30-year amortizations are available to first-time buyers and buyers of newly built homes. With 20% or more down, many lenders offer 30 years to any buyer.
The maths. Fixed-rate mortgages in Canada are quoted with interest compounded semi-annually, and that’s what the calculator uses. Accelerated bi-weekly and weekly payments are half or a quarter of the monthly payment, so you make the equivalent of one extra monthly payment each year and pay the mortgage off sooner.
The stress test. Lenders qualify you at the higher of your rate plus 2% or 5.25%, so the calculator shows that qualifying rate and the payment you’d need to afford at it. Actual qualification also depends on your income, debts, property taxes and heating costs.
Buying in Edmonton also means no provincial land transfer tax; Alberta charges modest Land Titles registration fees instead. Budget roughly 1.5% of the price for legal fees, title insurance, an inspection and moving. First-time buyer guide →
Want real numbers, not estimates?
A calculator can’t see your income, credit or the lenders’ latest pricing. Book a call or apply, and I’ll show you what you actually qualify for.
Approval is not guaranteed and depends on lender review.
- John Antle, Mortgage Associate - Team Lead, Pineapple National Inc.
- Phone: 403-879-2065 · Call or text: 250-212-8512
- Email: johnantle@gopineapple.com
- Hours: Monday to Friday, 9:30 AM to 5:00 PM. Appointments outside those hours are available on request.
- 100% online: video, phone, e-signing and secure upload for Edmonton and every surrounding community. No office visit required.