Mortgage Calculators — Run the Numbers Before You Call the Bank
Free tools provided by Shawn Selanders | RECA-Licensed Mortgage Broker | 25+ Years Experience
The smartest mortgage decisions start with math — not guesswork. These free calculators let you estimate your payments, figure out your down payment, calculate closing costs, and compare scenarios before you ever talk to a lender.
Play with the numbers. Then call me and I'll tell you what the banks won't — which lender actually offers the best deal for your situation, not just the lowest rate on a billboard.
Calculators Give You Numbers. I Give You Answers.
A calculator can tell you that a $500,000 mortgage at 4.5% costs $2,756/month. What it can't tell you is whether you'd qualify for 4.5% — or whether a different lender would give you 4.29% with better prepayment options and a penalty that won't gut you if life changes.
Use these tools to get a baseline. Then let me show you the full picture — I shop 40+ lenders to find the right mortgage, not just the right number.
What You Can Calculate
- 📈 Mortgage Calculator — Estimate your monthly payment based on price, down payment, rate, and amortization
- 🏠 Purchase Calculator — Figure out total monthly cost including property taxes and insurance, plus minimum down payment required
- 💰 Closing Costs — Estimate legal fees, title insurance, adjustments, and other costs due on closing day (Alberta has no land transfer tax!)
- 🎯 Land Transfer Tax — Not applicable in Alberta, but useful if you're comparing to buying in Ontario, BC, or other provinces
- 💪 Affordability Calculator — See how much home you can afford based on your income, debts, and down payment
- 📊 Refinance Calculator — Compare your current mortgage vs. refinancing to see if switching makes sense
- 🧾 Stress Test Calculator — Check whether you'd pass the federal stress test at your contract rate + 2% or 5.25% (whichever is higher)
- 📅 Extra Payment Analyzer — See how much you'd save by making lump sum payments or increasing your regular payments
🔏 Your Free Mortgage Calculators
🇨🇦 Alberta Mortgage Advantages Worth Knowing
Before you run those numbers, here are a few things that make buying in Alberta different from the rest of Canada:
| Alberta Advantage | What It Means for You |
|---|---|
| No Land Transfer Tax | You save thousands at closing. In Ontario, a $500K home costs ~$6,475 in land transfer tax. In Alberta: $0. |
| No Provincial Sales Tax | Only 5% GST (not 13% HST) on new builds. That's $40,000 less tax on an $800K new home. |
| Lower Cost of Living | Your dollar goes further. The average home price in Calgary is significantly lower than Toronto or Vancouver. |
| Court-Supervised Foreclosure | Alberta uses judicial foreclosure — you get a redemption period and legal protection if you fall behind. More time to find solutions. |
📋 Quick Reference Numbers (Early 2026)
| Item | Current Number |
|---|---|
| Minimum down payment (under $500K) | 5% |
| Minimum down payment ($500K–$1.5M) | 5% on first $500K + 10% on rest |
| Minimum down payment (over $1.5M) | 20% |
| Stress test qualifying rate | Higher of 5.25% or contract rate + 2% |
| Standard amortization | 25 years (30 years for first-time buyers on new builds) |
| CMHC insurance premium range | 2.8% – 4.0% of mortgage (added to balance) |
| Maximum GDS / TDS ratios | 39% / 44% |
| Alberta land transfer tax | $0 — Alberta has none |
| Typical closing costs (Alberta) | 1.5% – 2% of purchase price |
| RRSP Home Buyers' Plan | Up to $60,000 tax-free |
| FHSA lifetime contribution limit | $40,000 ($8,000/year) |
*Rates and programs change. These numbers are accurate as of early 2026. For current rates, check my rates page or call me directly.
💡 What a Calculator Can't Tell You
Calculators are great for ballpark numbers. But there are things that only a broker conversation can answer:
Which lender will actually approve you — your credit score, employment type, and property type all determine which lenders are available. A calculator assumes you qualify. I find out for sure.
What your penalty would be if you break early — big banks use Interest Rate Differential (IRD) calculations that can cost $10,000–$15,000+. Monoline lenders (only available through brokers) often use much fairer 3-months-interest penalties.
Whether you should go fixed or variable — this depends on your risk tolerance, how long you'll stay in the home, and what the rate spread looks like today.
What programs you qualify for — FHSA, RRSP Home Buyers' Plan, 30-year amortization on new builds, newcomer programs, self-employed alternative documentation — I match you to every program that applies.
What the real rate is — posted rates and actual negotiated rates are different things. The rate you see online is rarely the rate you'll get from me.
📚 Explore My Mortgage Guides
Once you've run the numbers, dive deeper into the topic that fits your situation:
Ready to Go Beyond the Calculator?
A 10-minute call gives you more than any calculator can — what you actually qualify for, which lender fits best, and what your real monthly cost will be. No pressure, no obligation.
Call/Text: 403-703-6847
Email: ShawnSelanders@gmail.com
Office: 614 High View Park NW, High River, AB T1V 1E5
Hours: Mon–Fri 9:00–7:00 | Sat–Sun 12:00–5:00
Shawn Selanders — RECA-licensed mortgage broker serving Calgary, Okotoks, High River, and Southern Alberta since 1999.