Edmonton Mortgage Calculator
Free Edmonton mortgage calculator with local property tax rates, land title fees, and 2024 housing data. Calculate your monthly payment instantly — no sign-up required.
Input Mortgage Details here. Results will update instantly.
Variable: Your rate moves with the Bank of Canada prime rate — historically lower, but payments may change if prime changes.
Rate locked for the full term — stable, predictable payments
How long your rate is locked in before renewal
Total time to fully pay off the mortgage
At End of 5 Years Term
💡 After your 5 Years term, you will renew the remaining $350,392 balance at the rate available at that time. Shopping for the best renewal rate can save you thousands.
🔒 Fixed Rate — Stress Test
🏛️ The federal mortgage stress test requires you to qualify at the higher of your contract rate + 2% or 5.25%, regardless of your actual rate. This ensures you can handle future rate increases.
Full Amortization Breakdown
<ins> tagEdmonton Housing Market Data
Edmonton Property Tax & Transfer Tax
Property Tax Rate: Approximately 0.88% of assessed value annually (avg. $3,740/year on average home). Alberta has no provincial land transfer tax — only a Land Title Transfer Fee of approximately $500–$800 (flat fee based on property value). This makes Edmonton one of the most affordable cities in Canada for closing costs.
CMHC mortgage insurance is required for down payments under 20%. Edmonton homes are generally well under the $1.5M CMHC limit, making insured mortgages widely available.
Edmonton Homebuyer Guide
No Provincial Land Transfer Tax
Unlike Ontario and BC, Alberta charges no provincial land transfer tax. Buyers pay only a flat Land Title Transfer Fee of roughly $500–$800, saving thousands compared to other major Canadian cities. This significantly lowers the barrier to homeownership in Edmonton.
Edmonton's Affordable Market
Edmonton consistently ranks as one of the most affordable major cities in Canada. With average home prices around $425,000, buyers can enter the market with a 5% down payment of approximately $21,250. The city offers strong value relative to income levels and has a growing tech and government employment base.
Property Tax Rates
Edmonton's residential property tax rate is approximately 0.88% of assessed value annually. On an average $425,000 home, this works out to roughly $3,740/year or $312/month. Property taxes are set by the City of Edmonton and the Province of Alberta and are reassessed annually.
CMHC Mortgage Insurance
If your down payment is less than 20%, CMHC mortgage insurance is required. At 5% down on a $425,000 home, the CMHC premium is 4.00% of the insured amount ($16,150), which is typically added to your mortgage. At 10% down, the premium drops to 3.10%.
Edmonton Neighbourhoods to Consider
Popular areas include Glenora, Windermere, Terwillegar, and Griesbach. The downtown core and Oliver neighbourhood offer strong condo markets. South Edmonton and the southwest suburbs provide family-friendly detached homes at accessible price points.
Mortgage Stress Test
All Canadian mortgage applicants must qualify at the higher of their contract rate plus 2%, or 5.25%. On a $425,000 purchase with 5% down, you need a gross annual income of approximately $85,000–$95,000 to qualify, depending on your other debts.
<ins> tagEdmonton Closing Cost Estimator
Estimate your total closing costs including land transfer tax, legal fees, title insurance, and more — with first-time buyer rebate support.
Related Calculators & Resources
About Our Edmonton Mortgage Calculator
Our free Edmonton mortgage calculator uses current Canadian mortgage standards including semi-annual compounding as required by the Bank Act. Enter your home price, down payment, interest rate, and amortization period to instantly calculate your monthly, bi-weekly, or weekly mortgage payments.
The calculator automatically accounts for CMHC mortgage insurance if your down payment is less than 20%, which is required for all insured mortgages in Canada. It also allows you to include Edmonton's property taxes and home insurance for a complete picture of your monthly housing costs.
Disclaimer: All calculations are estimates for informational purposes only. Actual mortgage terms, rates, and payments will vary based on lender requirements, credit profile, and market conditions. Consult a licensed mortgage professional for personalized advice. No data entered on this site is collected or stored.