Calgary is the $600,000 example, and it is the first price in the series above $500,000. The minimum down payment is no longer 5 percent. The library charges 5 percent on the first $500,000 and 10 percent on the rest, so a flat 5 percent down payment is below the minimum and is marked that way in the down-payment table. Alberta still has no provincial land transfer tax in this calculator. Twenty percent down drops the premium to zero. Anything under 20 percent that meets the minimum uses the premium tier for that down payment. Using the Desjardins 5-year fixed, insured contract rate of 4.14% as of 2026-09-03, a minimum down payment of $35,000, and a premium of $22,600, the insured mortgage is $587,600. The land-transfer result for a first-time buyer is $0 net. Alberta does not charge a provincial land transfer tax. Typical property tax in the library is about $4,500 a year. With no other debts, the binding ratio is GDS and the gross income is about $131,801.
Rate sensitivity
Only the middle row is the lender sheet. The other contract rates are illustrative, so you can see the 5.25% floor and a higher contract rate. They are not quotes.
| Rate | Qualifying | Stress payment | Income |
|---|---|---|---|
| Illustrative 3.00% contract (floor applies) (illustrative) | 5.25% | $3,502 | $122,357 (GDS) |
| Minimum down payment, sheet rate | 6.14% | $3,809 | $131,801 (GDS) |
| Illustrative contract plus 1 point (illustrative) | 7.14% | $4,167 | $142,817 (GDS) |
Other monthly debts
Same minimum down payment and sheet rate. Debts of $0, $400, and $650 are scenarios, not a claim about Calgary households.
| Debts | GDS income | TDS income | Binds |
|---|---|---|---|
| No other monthly debt | $131,801 | $116,824 | GDS |
| $400 other monthly debt | $131,801 | $127,733 | GDS |
| $650 other monthly debt | $131,801 | $134,551 | TDS |
Down payment
| Down payment | Premium | Mortgage | Income |
|---|---|---|---|
| 5% down ($30,000) — below the library minimum | $22,800 | $592,800 | $132,838 |
| 10% down ($60,000) | $16,740 | $556,740 | $125,647 |
| 20% down ($120,000) | $0 | $480,000 | $110,342 |
Alberta example — Calgary
First-time buyer land transfer tax from the library: $0 before rebate, $0 rebate, $0 net. Alberta does not charge a provincial land transfer tax.
Property tax at the library's typical Alberta rate of 0.75% is about $4,500 a year ($375 a month). That is a provincial benchmark in the code, not a Calgary tax bill.
Frequently asked questions
- What income do you need for a $600,000 home in Calgary?
- At the minimum down payment of $35,000, with heat of $100 a month, no condo fee, and no other debts, the stress-test income is about $131,801 a year. The contract rate is Desjardins 4.14% as of 2026-09-03. The qualifying rate is 6.14 percent. GDS is the ratio that binds.
- What down payment and insurance premium apply to $600,000 here?
- The library minimum down payment is $35,000. The CMHC premium at that down payment is $22,600 (4.00 percent of the amount borrowed when the down payment is under 20 percent). The insured balance is $587,600.
- What transfer tax and property tax does the library return for Calgary?
- For a first-time buyer, net land transfer tax is $0. Alberta does not charge a provincial land transfer tax. The typical provincial property-tax rate in the library is about $4,500 a year on this price. This example does not add Toronto municipal land transfer tax.
- How does a $400 monthly debt change the $600,000 Calgary income?
- The same housing costs plus $400 of other monthly debt need about $131,801 of gross income. GDS binds in that row. TDS uses 44 percent and includes the debts. GDS stays at 39 percent and does not include them.