Mortgage Calculators · Alberta
Mortgage calculators for Alberta homebuyers
Whether you’re just starting out, eyeing a specific home, or thinking about pulling equity from the one you own, these free tools give you a realistic number in about 30 seconds — using today’s Canadian lending rules.
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Which mortgage calculator should I use?
I’m just getting started
Find out the maximum home price you could afford, in about 30 seconds.
Affordability calculator →I have a home in mind
Check whether a specific asking price fits your budget.
Home-purchase calculator →I want to refinance
See how much equity you could take out of the home you own.
Refinance calculator →How much home can I afford?
Affordability comes down to four things: your income, your down payment, your existing debts, and the qualifying (stress-test) rate. Lenders keep two ratios in check:
| 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) |
You have to pass the mortgage stress test, which means qualifying at the higher of your contract rate + 2% or 5.25% — currently around 6% for strong credit. That’s deliberately higher than the rate you’ll actually pay, so there’s a buffer if rates rise.
How much down payment do I need?
In Canada the minimum down payment scales with the price of the home:
| Home price | Minimum down payment |
|---|---|
| $500,000 or less | 5% of the price |
| $500,001 – $1,499,999 | 5% of the first $500,000 + 10% of the rest |
| $1,500,000 or more | 20% of the price (no insurance available) |
If your down payment is under 20%, your mortgage must be insured, which adds a one-time premium to the loan:
| Down payment | Loan-to-value | Insurance premium (% of loan) |
|---|---|---|
| 5% – 9.99% | 90.01% – 95% | 4.00% |
| 10% – 14.99% | 85.01% – 90% | 3.10% |
| 15% – 19.99% | 80.01% – 85% | 2.80% |
| 20% or more | 80% or less | None (uninsured) |
What if my credit isn’t perfect?
With active collections or a past bankruptcy, an alternative (B) lender is usually the path. Expect roughly 20% down, a 30-year amortization, a rate around 5.5% (stress-tested near 7.5%) and a more generous 55% TDS. These estimates assume a property within about 50 km of a major urban centre; more rural properties usually need extra down payment or equity, and your exact rate will depend on your credit score.
Frequently asked questions
How much mortgage can I afford in Alberta?
Lenders size your mortgage using two ratios: GDS (39%) — housing costs as a share of gross income — and TDS (44%) — housing plus all other debt. Your income, down payment, existing debts and the federal stress-test rate together set the maximum. Our affordability calculator applies all of these and gives you a home-price estimate.
What is the mortgage stress test in 2026?
You must qualify at the higher of your contract rate + 2% or 5.25% — not your actual rate. For a well-qualified buyer that currently works out to roughly 6%. Qualifying at this higher rate is what limits how much you can borrow.
What down payment do I need to buy a home in Canada?
The minimum is 5% on the first $500,000 of the price, 10% on the portion above $500,000, and 20% at $1.5M or more (where mortgage insurance is no longer available).
Can I get a 30-year amortization?
Yes — since December 2024, first-time buyers and buyers of newly built homes can get a 30-year insured amortization. It lowers your payment (and can raise your affordability) but adds a 0.20% surcharge to the mortgage-insurance premium.
Are these mortgage calculators free?
Yes. All three calculators are free, take about 30 seconds, and require no credit check or personal contact details to see your estimate.
Ready for a real number?
These tools give an estimate. For an exact pre-approval, apply online in minutes — no credit check to start.