Calgary Mortgage Information

Most Calgary Home Buyers will use a mortgage to purchase their new home. Below is a quick guide to give you an idea of what you might qualify for and what monthly mortgage payment to expect. Since this is just a guide, I highly recommend that you contact your bank or a Calgary Mortgage Broker to obtain full details on rates, including insured mortgage rates.

I have also created a Mortgage video series with Felix Chan from mymortgage, detailing some important steps to getting a Mortgage.

CALGARY MORTGAGE PAYMENT CALCULATION CHART

                                                 Amortization Period (yrs)

 Rates                                5            10           15          20            25

5.00%                           18.84      10.58      7.88       6.57         5.81

5.25%                           18.96      10.70       8.00       6.70        5.95

5.50%                           19.07      10.82       8.13       6.84        6.10

5.75%                           19.18      10.94       8.26       6.98        6.25

6.00%                          19.29      11.06       8.39       7.12        6.39

Monthly pretax income + Spouse pretax income = Total pre-tax income

Divide by 3 = Affordable monthly payments  |  Amount of mortgage (e.g 300k)

Chart Figure (e.g 5.81) x Amount of mortgage / 1000 = Amortization Amount (e.g 1743.00)