Mortgage calculator in Calgary

Mortgage calculator in Calgary in 2023. How to calculate a mortgage yourself? How to work with a mortgage calculator? Mortgage rates. What can I find out using a mortgage calculator?

Real estate value calculation
Loan amount calculation
How much will the property cost me
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Mortgage Calculator
Interest rates in Calgary on 30.01.2023
50000 C$ 3000000 C$
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4.49 % 6.14 %
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Early repayment
50000 C$ 3000000 C$
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Total Monthly Payment
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Details
Amortization Table
Total Monthly Payment

In this section you will see the calculation of the monthly mortgage payment amount

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Mortgage Amount
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Interest costs
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Payment

Here is a breakdown of the total amount of payment for the loan body and interest for the use of credit funds

 

 

Annual schedule

Your Mortgage Payment Information
Mortgage interest rates for January 2023

We collect and analyze the best mortgage interest rates in Canada on a daily basis

Max Rate (5-year Fixed) 6.49 %
Min Rate (5-year Fixed) 4.45 %
Average Rate (5-year Fixed) 6.45 %
Max Rate (10-year Fixed) 8,1 %
Min Rate (10-year Fixed) 5,19 %
Average Rate (10-year Fixed) 5,75 %
Max Rate (25-year Fixed) 10 %
Min Rate (25-year Fixed) 7,58 %
Average Rate (25-year Fixed) 9,75 %
Nesto

Get 1% cashback on your mortgage value (Up to $9,250*) mortgage cashback

4.54 %
Profitably

Rent vs Buy: What is cheaper in Calgary?

We have prepared for you an analytical block to help you compare the financial advantages of renting and taking out a mortgage loan. With the help of this chart, you can figure out whether, at the moment, it is more profitable to rent a property or to buy it. The data is relevant for January 2023 of the year and does not consider inflation and the rise in the price of real estate.

1 bd condo
2 bd condo
3 bd condo
2 bd home
3 bd home
4 bd home
4+ bd home
Mortgage is cheaper!
On 30.01.2023 Mortgage is cheaper than Rent
10 C$ Your benefit!

Benefit for 1 year
120 C$

Benefit for 5 years
600 C$
Average data in Canada for January 2023 of the year
We collect and analyze the cost of real estate in Canada on a monthly basis
Mortgage
1 490 C$

Rent
1 500 C$

Difference
10 C$
Rent is cheaper!
On 30.01.2023 Rent is cheaper than Mortgage
80 C$ Your benefit!

Benefit for 1 year
960 C$

Benefit for 5 years
4 800 C$
Average data in Canada for January 2023 of the year
We collect and analyze the cost of real estate in Canada on a monthly basis
Rent
1 800 C$

Mortgage
1 880 C$

Difference
80 C$
Rent is cheaper!
On 30.01.2023 Rent is cheaper than Mortgage
430 C$ Your benefit!

Benefit for 1 year
5 160 C$

Benefit for 5 years
25 800 C$
Average data in Canada for January 2023 of the year
We collect and analyze the cost of real estate in Canada on a monthly basis
Rent
2 300 C$

Mortgage
2 730 C$

Difference
430 C$
Rent is cheaper!
On 30.01.2023 Rent is cheaper than Mortgage
3 150 C$ Your benefit!

Benefit for 1 year
37 800 C$

Benefit for 5 years
189 000 C$
Average data in Canada for January 2023 of the year
We collect and analyze the cost of real estate in Canada on a monthly basis
Rent
1 800 C$

Mortgage
4 950 C$

Difference
3 150 C$
Rent is cheaper!
On 30.01.2023 Rent is cheaper than Mortgage
3 960 C$ Your benefit!

Benefit for 1 year
47 520 C$

Benefit for 5 years
237 600 C$
Average data in Canada for January 2023 of the year
We collect and analyze the cost of real estate in Canada on a monthly basis
Rent
2 500 C$

Mortgage
6 460 C$

Difference
3 960 C$
Rent is cheaper!
On 30.01.2023 Rent is cheaper than Mortgage
2 960 C$ Your benefit!

Benefit for 1 year
35 520 C$

Benefit for 5 years
177 600 C$
Average data in Canada for January 2023 of the year
We collect and analyze the cost of real estate in Canada on a monthly basis
Rent
3 500 C$

Mortgage
6 460 C$

Difference
2 960 C$
Rent is cheaper!
On 30.01.2023 Rent is cheaper than Mortgage
3 450 C$ Your benefit!

Benefit for 1 year
41 400 C$

Benefit for 5 years
207 000 C$
Average data in Canada for January 2023 of the year
We collect and analyze the cost of real estate in Canada on a monthly basis
Rent
4 000 C$

Mortgage
7 450 C$

Difference
3 450 C$

Compare mortgage offers for 30.01.2023

Use the mortgage loan matching configurator. Select the necessary parameters and click on the "Show" button

HELOC
Brokers
Reverse
Refinance
5-years
5-years
10-years
15-years
25-years
300
300
650
850
1000

Mortgage offers

Start your housing search in Calgary with our mortgage calculator

Calculate your monthly payment Step 1

It might be a good idea to figure out how much you can spend before applying for a mortgage, as your monthly payment will be your most significant expense. For your convenience, we designed a user-friendly mortgage payment calculator that takes into account many factors, for example, your insurance costs and interest deduction.

Look through the terms and conditions Step 2

Check out the mortgage options available in Calgary in January, 2023. The system will select the most relevant offers according to the results of your calculation.

Check your credit score Step 3

To assess the mortgage loan approval probability, we recommend you check your credit score through our website. It is free. The minimum rating required for a mortgage with a traditional lender is 680. If your rating is lower than 680, we could recommend you a mortgage broker.

Check your debt Step 4

Buying a house is one of the most important money moves you'll ever make. It might be helpful to check if you owe money to someone before starting your house-hunting journey. To do it, you could use our debt-checking service. It's free. Banks tend to favor debt-free customers; therefore, if you see yourself in arrears, you’d better pay off all your debts before applying for a mortgage loan.

Apply Step 5

If your credit score is at least 680 and you don't have any outstanding debts, we recommend you start the application process. To apply for a mortgage, you can go to the bank's website by clicking the corresponding button in the offers listed above. Alternatively, you can use our mortgage application form.

Wait for the decision Step 6

Mortgage experts of the selected bank will assess your credit score and legal and financial risks associated with your application. After that, you will receive the decision on your application.

Find the right home Step 7

After your credit limit is approved, you can start looking for a home. If you need help figuring out where to start, you could take advantage of real estate websites such as REALTOR.ca, centris.ca, and zolo.ca to find your dream house.

Useful articles about mortgages in Calgary

If you decide to apply for a mortgage loan, we recommend you read the articles in this section. This minimum amount of information can help you do everything right.

What is a Calgary mortgage calculator?

If you reside in Calgary and have a home-buying project in mind, you probably already know that the average house price here is $516,400. This is because the oil and gas industries, the most significant employers, contribute to relatively high wages in this region, with the median total household income being $84,770 in Calgary. So, mortgages are more affordable there than in regions like Toronto, with similar median annual income but higher property prices.

To apply for a mortgage in Calgary, you can reach out to many financial institutions, including:

With these lenders, you can choose between open or closed mortgages and fixed or variable-rate mortgages.

The interest rates for a 5-year fixed-rate mortgage in Calgary range from 4.49% to 6.14%, with an average rate being 5.32% and lower rates offered for insured mortgages. 

If you are wondering what your mortgage payment may look like, a Calgary mortgage calculator will give you a hint on that.

How to use a Calgary mortgage calculator?

Using a Calgary mortgage calculator is pretty simple. To proceed, enter the values for the key parameters of your mortgage into the designated fields — the purchase price, down payment, term, interest rate, payment frequency, and amortization period. Once you do, you will see the estimated regular payment amount. 

Let’s assume you’d like to purchase a property for $460,000 and make a $60,000 down payment, and you opt for a 5-year fixed closed mortgage with a 4.73% interest rate, 15-year amortization period and monthly payments; your regular payment will be $3,098. The principal and interest amounts paid over the term will be $103,645 and $82,219, respectively.

Attention! All mortgage and other loan calculators are for informational purposes only and provide general information. 

Benefits of a Calgary mortgage calculator

A Calgary mortgage calculator can easily estimate your mortgage repayment costs. Enter the home price values, down payment amount, mortgage term, interest rate, amortization period, and payment frequency. 

By adjusting the figures you’ve entered as input, you can see how different mortgage options compare in terms of regular payments. So, a Calgary mortgage calculator can help you determine which solutions represent your best value. 


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Olga R
Author of articles
Olga R
10.11.2022
24.01.2023
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