Mortgage Wizard

Plan your mortgage with our comprehensive Canadian calculator featuring CMHC insurance and land transfer tax.

Purchase Details
ℹ The total purchase price of the property.
CAD $500,000
ℹ Minimum 5% for properties under $500k. Must be at least 20% to avoid CMHC insurance.
CAD $100,000 (20.0%)
Loan Terms
ℹ The annual mortgage interest rate. Current rates in Canada typically range from 4.5% to 7%.
5.50%
ℹ The total length of time to pay off the mortgage. Maximum 25 years with CMHC insurance.
ℹ How often you'll make mortgage payments. Accelerated options help pay off your mortgage faster.
Additional Costs
ℹ The yearly property tax amount. Average in Calgary is ~0.6-0.7% of property value.
CAD $3,000
ℹ The monthly condominium maintenance fee. Leave at 0 if not applicable.
CAD $0
Buyer Information
ℹ First-time buyers in Alberta may qualify for land transfer tax rebates.
ℹ Land transfer tax rates vary by province.