Mortgage Payment Calculator for Alberta
Estimate your monthly mortgage payment, down payment, and CMHC insurance using real Canadian math — semi-annual compounding and current down-payment rules. Built for Edmonton and Calgary prices, but it works for any home in Alberta.
$45,000 · minimum here is 5% ($22,500)
5-year fixed, compounded semi-annually (Canadian standard)
Most Alberta mortgages use 25 years
Your monthly payment
$2,308.73
Down payment
$45,000
10% of price
Mortgage amount
$417,555
incl. CMHC premium
CMHC insurance
$12,555
3.1% of loan · added to mortgage
Total interest
$275,065
over 25 yr
Total of payments: $692,620
How mortgage payments work in Alberta
Your payment is built from three things: the size of your mortgage (price minus down payment, plus any CMHC premium), your interest rate, and your amortization — the number of years to pay it off. Because Canadian fixed-rate mortgages compound semi-annually rather than monthly, the math is slightly different from American calculators. This tool uses the Canadian convention, so the payment lines up with what an Alberta lender will put in front of you.
Minimum down payment in Alberta
Down-payment minimums are set federally, so Edmonton, Calgary, and the rest of the province follow the same tiers:
- 5% on the first $500,000 of the purchase price
- 10% on the portion between $500,000 and $1,500,000
- 20% on homes priced at $1,500,000 or more (these cannot be insured)
Anything under 20% down requires default insurance. The good news for Alberta buyers: there is no provincial land transfer tax here, so your upfront closing costs are far lower than in Ontario or BC.
What CMHC insurance costs
When you put down less than 20%, the lender requires mortgage default insurance. The premium is a percentage of your loan and gets added to the mortgage, so you finance it rather than pay it up front:
| Down payment | Loan-to-value | Premium |
|---|---|---|
| 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 |
A 30-year amortization adds a 0.20% surcharge on insured mortgages. The single biggest way to cut your cost is to cross the 20% threshold — that removes the premium entirely.
Frequently asked questions
How much is the mortgage payment on a $450,000 home in Edmonton?+
With 10% down ($45,000), a 25-year amortization, and a 4.49% 5-year fixed rate, the payment on the roughly $417,600 insured mortgage (after the 3.10% CMHC premium) is about $2,309 per month. Lowering your rate or extending the amortization reduces the monthly figure; a larger down payment removes CMHC insurance once you reach 20%. Adjust the sliders above for your own numbers.
What is the minimum down payment in Alberta?+
The rules are federal, so they are the same across Alberta. You need 5% on the first $500,000 of the price and 10% on any portion between $500,000 and $1,500,000. Homes priced at $1,500,000 or more require at least 20% down and cannot be insured. On a $450,000 Edmonton home that means $22,500; on an $800,000 home it is $55,000 (5% of $500k plus 10% of $300k).
Do I have to pay CMHC mortgage insurance?+
Only if your down payment is under 20%. CMHC (or Sagen/Canada Guaranty) default insurance protects the lender, not you, and the premium — 2.8% to 4.0% of the loan depending on how much you put down — is added to your mortgage and paid off over time. Put down 20% or more and there is no premium at all.
Are mortgage payments calculated differently in Canada?+
Yes. Canadian fixed-rate mortgages are compounded semi-annually, not monthly like most US calculators assume. This calculator uses the correct semi-annual compounding, so the payment you see matches what an Alberta lender will actually quote. Variable-rate mortgages compound monthly.
Can I get a 30-year amortization in Alberta?+
A 30-year amortization on an insured mortgage (less than 20% down) is available only to first-time buyers and buyers of newly built homes, and it adds a 0.20% CMHC surcharge. With 20% or more down, most lenders offer 30-year amortizations to any buyer. A longer amortization lowers your payment but increases total interest.
Will my actual payment match this calculator?+
It will be very close for the principal and interest. Your real monthly cost also includes property tax, home or condo insurance, and condo fees where applicable — budget for those separately. Use this as a planning estimate, then get an exact figure from your lender or a hômm mortgage partner before you make an offer.
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Estimates are for general information only and are not financial advice or a mortgage approval. Rates, premiums, and rules were last reviewed 2026-06-01. Confirm exact figures with your lender, lawyer, and a hômm REALTOR®.