Calgary, Alberta
Calgary mortgage payment calculator
Enter a price, a down payment and a rate. The calculator returns the monthly payment, the smallest down payment the federal rules allow and the higher payment a lender tests your income against.
How much you need to put down
| Purchase price | Minimum down payment |
|---|---|
| $500,000 or less | 5% of the price |
| $500,000 to $1.5 million | 5% of the first $500,000 and 10% of the rest |
| $1.5 million or more | 20% of the price |
Below 20% down, expect the lender to require mortgage loan insurance. The first-time home buyer guide sets these rules beside the FHSA, the Home Buyers' Plan and the other costs of a first purchase in Alberta.
Payments at Calgary benchmark prices
Each row takes the City of Calgary benchmark price for one property type in September 2026 (CREB), the smallest down payment allowed and an example rate of 4.00%, with no mortgage loan insurance added. They are illustrations, not quotes. Only some insured buyers can choose 30 years.
| Property type | Benchmark price | Minimum down | Mortgage | 25 years | 30 years |
|---|---|---|---|---|---|
| Apartment | $291,400 | $14,570 | $276,830 | $1,456 | $1,316 |
| Row | $412,400 | $20,620 | $391,780 | $2,061 | $1,863 |
| Semi-detached | $685,200 | $43,520 | $641,680 | $3,375 | $3,051 |
| Detached | $739,400 | $48,940 | $690,460 | $3,632 | $3,283 |
Why the stress test payment sets your budget
A lender does not approve you on the payment you will make. It tests your income against a payment at 5.25% or your contract rate plus 2%, whichever is higher. That larger figure is the one that limits how much you can borrow, so check it before you settle on a price range.
What sits outside the payment
Property tax, utilities and home insurance come every month or year and a condominium adds its fee. At closing Alberta has no land transfer tax, so the provincial charges are the two land title fees. Work them out with the land title fees calculator, see Calgary house prices by property type or ask Derek to total up a home you are considering.