Mortgage Calculator · Alberta
Can I afford this house? Home purchase calculator
Have a specific property in mind? Find out whether the asking price fits your budget.
Published · Last updated
Home Purchase Calculator
Can I afford this home?
How does this calculator decide if I can afford a home?
It runs the same qualifying math a lender uses — your income against GDS (39%) and TDS (44%) limits at the stress-test rate — then compares your maximum to the asking price you entered. If your maximum is higher, the home is within reach; if it’s lower, you’ll see the price range that fits.
| Ratio | Typical limit | What it includes |
|---|---|---|
| GDS (Gross Debt Service) | 39% | Mortgage payment + property tax + heat (+ ½ of condo fees) |
| TDS (Total Debt Service) | 44% | Everything in GDS + all other debt payments (loans, credit cards, support) |
What closing costs should I budget for in Alberta?
Alberta is one of the cheapest provinces to close in — there’s no land-transfer tax. Plan for legal fees, title and mortgage registration charges, a possible appraisal and inspection. On top of your down payment, budget roughly 1.5%–2% of the purchase price.
Frequently asked questions
How do I know if I can afford a specific house?
Compare the asking price to the maximum you qualify for. Enter the price, your income, down payment and debts above — the calculator tells you whether that home is within reach and, if not, the price range that is.
What other costs come with buying a home in Alberta?
Alberta has no land-transfer tax (a big advantage over most provinces), but budget for legal fees, a title-registration and mortgage-registration fee, a home inspection, and an appraisal if required. Closing costs typically run about 1.5%–2% of the price.
What if the home is just outside my budget?
A few levers can close the gap: a larger down payment, paying down credit-card or loan balances, a 30-year amortization (if you qualify), or adding a co-applicant’s income. Apply online and we’ll map out the options.
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What Alberta homeowners say
Really good experience with the Mortages for Less Team. Tamar was very attentive to our needs.
Tamar was great to deal with. Efficiently got me everything I needed... And more. Thanks Tamar
Josh provided me with good advice and did not waste my time.
Easy to approach.understanding and very professional.
Didn’t end up getting a mortgage through him but Josh was incredibly helpful and provided objective advice.
Tamar is truly amazing and so patient. She helped us through the entire process (which was quite confusing to be honest). Highly recommend.
I recently used their service, Tamar was my broker and she did a great job. She solved all our doubts and gave us the best service.
Tamar was super helpful throughout the process of helping us renew our mortgage. We changed mortgage providers, but Tamar made the process smooth.
Ready for a real number?
These tools give an estimate. For an exact pre-approval, apply online in minutes — no credit check to start.