Mortgage and Affordability Calculator

PLAN YOUR PURCHASE

Understanding your budget is the foundational first step in any successful home search. Our calculators are designed to provide you with clarity and confidence as you begin your journey.

Use the mortgage calculator below to estimate your potential monthly payments based on different scenarios. Then, use the affordability calculator to get a clear picture of your overall home buying budget. This crucial information empowers you to search for properties in the right price range and prepares you for a strategic conversation about your goals.

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Property Details

Enter your purchase information

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⚠ CMHC Mortgage Insurance Required

Down payment under 20% requires CMHC insurance. Premium: -- of the insured amount (--). This is added to your mortgage principal.

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Mortgage Details

Canadian mortgage rules apply

Fixed Rate: Your interest rate and payment are locked in for the full term - predictable and stable. The most popular mortgage choice in Canada.
5.19%
1%3%5%7%10%
25 yrs
Tip: Accelerated bi-weekly pays half your monthly amount every two weeks - equal to one extra monthly payment per year. This can save tens of thousands in interest and cut ~3 years off a 25-year mortgage.
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Monthly Housing Costs

Edmonton-specific estimates included

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Auto-estimated based on Edmonton's 2025 property tax increase - approximately $394/mo for a typical detached home. Adjust for your property's assessed value.
$0/mo
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$150/mo
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Canadian Stress Test

OSFI B-20 qualifying ratios

What are GDS & TDS Ratios?
GDS
Gross Debt Service Ratio - the percentage of your gross monthly household income needed to cover all housing costs: mortgage payment, property taxes, heating, and 50% of condo fees (if applicable). Canadian lenders require GDS to be 39% or lower to qualify.
TDS
Total Debt Service Ratio - everything in GDS, plus all other monthly debt obligations: car loans, credit cards, student loans, and personal loans. Lenders require TDS to be 44% or lower to qualify.
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Qualifying Rate (your rate + 2% or 5.25%, whichever is higher) --
GDS Ratio (max 39%) --
TDS Ratio (max 44%) --
Stress Test Outlook --
Estimated Payment
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bi-weekly
Mortgage Amount --
CMHC Insurance Premium --
Total Interest Paid --
Total Cost of Mortgage --
Monthly Cost Breakdown
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Principal
Principal
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Interest
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Property Tax
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Heat + Condo
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Total Monthly Housing Cost --
📈 Amortization Schedule ▼
Principal paid
Interest paid
YearPrincipalInterestBalance

⚠ These figures are estimates only and are intended for general informational purposes. This calculator does not constitute financial, mortgage, or legal advice. Results are based solely on the inputs provided and simplified assumptions about Canadian mortgage rules. Actual mortgage payments, qualifying criteria, CMHC premiums, property tax amounts, total interest, and closing costs may differ significantly. Property taxes, heating costs, and market conditions are subject to change. Please consult a licensed mortgage broker, your lender, or a qualified financial advisor before making any financial decisions. My Time Realty does not provide mortgage lending or financial planning services.

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Data last updated on May 29, 2026 at 03:30 PM (UTC).
Copyright 2026 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.