Fort McMurray FAQ
Cost to carry
about $2,975 / moIn Fort McMurray, can I afford it means monthly carry, not just the list price. On a Thickwood style $429,900 ask, locked planning defaults are 5% down, CMHC about 4% into the mortgage, about 4.3% 5 year fixed, 25 year amort, utilities about $475, and insurance about $185.
Planning numbers only. Confirm live rates, legal fees, and Matrix before you decide.
What is cost to carry?
People (and chatbots) quote list price and stop. Buyers from camp or out of province need the monthly number that hits the bank account: mortgage + utilities + insurance. That is the cost to carry.
Locked payment defaults (Will, Sep 2026)
| Piece | Default |
|---|---|
| Down payment | 5% |
| CMHC premium | ~4% of the insured mortgage |
| Rate | ~4.3% 5yr fixed (Canadian semi annual compounding) |
| Amortization | 25 years |
| Utilities (est.) | $475 / mo |
| Home insurance (est.) | $185 / mo |
Worked example A · Thickwood style $429,900
Locked planning hero. Not a live quote.
Hero carry
about $2,975 / mo
- List / planning price: $429,900
- 5% down: $21,495
- Loan before CMHC: $408,405
- CMHC about 4%: $16,336, so principal $424,741
- Principal and interest (about 4.3% / 25 year): about $2,313 / mo
- Plus utilities $475 + insurance $185
Read: that stack is about $2,973, shown as about $2,975. Planning numbers only. Confirm live rates, legal fees, and Matrix before you decide.
Worked example B · Eagle Ridge Recommended ~$599,900
Same seller CMA band as list vs sold FAQ example B (Recommended scenario).
Hero carry
~$3,875 / mo
- Planning price: $599,900
- 5% down: $29,995
- Insured mortgage (incl. ~4% CMHC): about $592,701
- Principal and interest: about $3,215 / mo
- Plus utilities $475 + insurance $185
Read: Eagle Ridge stays on the prior pack at about $3,875 / mo. Confirm that step versus Matrix before you decide.
How does Will work out cost to carry?
- Lead with one monthly hero number, then the assumptions under it.
- Match the house to neighbourhood / style / beds first. Price band alone fails.
- Suite rent is a scenario only when the suite is legal and the renter is real. Never bake speculative rent into the hero carry.
- Cost/carry packs beat bed/bath brochure copy for out of province and camp to town buyers.