Calgary mortgage calculator
Calgary buyers pay no land transfer tax, which keeps closing costs low. Calculate payments, CMHC insurance and the stress test.
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Example costs at three prices
Example prices, not market averages. Minimum down payment, 4.49% rate and 25-year amortization; transfer tax is before any first-time buyer rebate.
| Home price | Minimum down payment | CMHC premium | Total mortgage | Monthly payment | Transfer tax |
|---|---|---|---|---|---|
| $400,000 | $20,000 | $15,200 | $395,200 | $2,185 | $0 |
| $550,000 | $30,000 | $20,800 | $540,800 | $2,990 | $0 |
| $700,000 | $45,000 | $26,200 | $681,200 | $3,766 | $0 |
Buying a home in Calgary: what’s different
- No land transfer tax. Alberta charges land titles registration fees instead, typically a few hundred dollars for a home purchase.
- No sales tax on the CMHC premium, so the premium is all financed.
- That leaves your down payment and legal fees as the main cash costs at closing.
On a $550,000 home the minimum down payment is $30,000. With the CMHC premium the mortgage is $540,800, or about $2,990 a month at 4.49% over 25 years.
Frequently asked questions
Is there a land transfer tax in Calgary?
No. Alberta has no land transfer tax, only land titles registration fees for the transfer and the mortgage.
What is the minimum down payment on a $550,000 home?
$30,000: 5% of the first $500,000 plus 10% of any amount above that.
Is the CMHC premium taxed in Alberta?
No. Only Ontario, Quebec and Saskatchewan charge provincial sales tax on mortgage insurance premiums.
Other cities
Vancouver
Property transfer tax, and why the first-time exemption often runs out.
Edmonton
No land transfer tax and no sales tax on the CMHC premium.
Ottawa
Ontario land transfer tax only, with no municipal tax.
Mississauga
Close to Toronto, but without Toronto’s second land transfer tax.
Hamilton
Ontario land transfer tax and 8% sales tax on the CMHC premium.
Montreal
Welcome tax, 9% premium tax and notary fees.