Best mortgage rates
in Alberta.
Today’s best 5-year fixed in Alberta is 4.19% across our network. Variable is 3.00%. No provincial sales tax and no land transfer tax — Alberta is structurally the most affordable major-market closing in Canada. Energy-economy borrower base means commission and bonus-income files are routine.
Mortgage rates in Alberta today start at 4.19%% fixed and 3.00%% variable across our 100+ lender network. The average home in Alberta is $519,033; the federal stress test requires qualifying at your rate + 2%. Alberta has ATB Financial as a unique provincial Crown lender competing aggressively on rate alongside the Big-6 and monolines.
What are the best mortgage rates in Alberta right now?
From 100+ lenders, lowest first. Rates are for insured mortgages unless noted.
How are mortgage rates set in Alberta?
Your lender sets your rate from your credit, income, amortization and down payment. Fixed rates follow bond yields. Variable rates follow the Bank of Canada. Alberta has ATB Financial as a unique provincial Crown lender competing aggressively on rate alongside the Big-6 and monolines. Commission-income (energy/oilfield) and bonus-heavy income files are common — we shop lenders that average bonus income properly rather than discount it.
Follow the 5-year bond yield
Lenders price 5-year fixed rates off the Government of Canada 5-year bond yield. When yields rise, fixed rates follow within days. A 0.25% move adds about $12/month per $100k.
Follow the Bank of Canada
Variable rates are prime plus or minus a discount. The Bank of Canada sets its rate 8 times a year, and prime is that rate + 2.20%.
Credit and down payment
Insured mortgages (under 20% down) get the deepest discounts. Files with 20% or more down pay 0.05–0.25% more. A score above 720 gets the best tier.
What lenders look at in Alberta
- 1. Your credit and income. Lenders check your credit score, income papers and total debt. A score above 720 gets the best discounts.
- 2. The lenders in your province. Not every lender works in every province, and pricing varies by region. Brokers reach banks, credit unions and monoline lenders.
- 3. Fixed or variable. Fixed rates follow Government of Canada bond yields. Variable rates follow the Bank of Canada. Neither is always cheaper over a full term.
- 4. The stress test. You must qualify at your rate + 2%, or 5.25%, whichever is higher. We build your application so you pass on the best product, not the easiest one.
Alberta mortgage rates — common questions.
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Is there really no land transfer tax in Alberta?
Correct — Alberta does not charge a provincial land transfer tax. You pay Land Titles registration fees instead, once on the transfer and again on the mortgage: $50 plus $5 per $5,000 of value each. On a $500,000 purchase with a $400,000 mortgage that is about $1,000 all in, against roughly $6,475 of Ontario land transfer tax on the same price. Still the lightest closing in the country by a wide margin — but not the $300-$500 that was true before Alberta raised the levy on 20 October 2024.
What is ATB Financial and should I consider them?
ATB Financial is a provincial Crown corporation (effectively Alberta's bank) with full-service mortgage products. They're often very competitive on Alberta files and especially well-positioned for energy-sector borrowers with variable-income files. We compare them on every applicable Alberta file.
How do lenders treat commission and bonus income in Alberta?
Most A-lenders use the 2-year average of T4 box 14 plus consistent commission/bonus from boxes 38-50. Energy-sector files often have multi-year T4 averaging clauses that materially affect qualifying income. We shop lenders with the most favourable averaging methodology for your specific situation.
Which Alberta cities have the lowest home prices?
Medicine Hat ($378,372), Red Deer ($431,692), Edmonton ($436,475), Lethbridge ($447,541) are the most affordable Alberta markets we cover, all of them below Calgary's $638,440. Each of those is the local board's own monthly average — the Calgary Real Estate Board for Calgary, the Alberta Real Estate Association for the rest — rather than an estimate, and every city page links the release it came from. Across the Prairies more broadly, Winnipeg at $439,216 still prices below every Alberta market on this site.
Do I need to be Alberta resident to get an Alberta mortgage?
No — you can buy property in Alberta from any province. The mortgage is on the Alberta property; your residency for tax purposes stays wherever you currently live. We handle out-of-province buyers regularly (BC and Ontario buyers picking up Alberta investment properties is common).
Is the mortgage stress test the same in Alberta as elsewhere in Canada?
Yes — the federal stress test applies uniformly in every province: you must qualify at your contract rate plus 2%, or 5.25%, whichever is higher. There is no Alberta-specific exception. The stress test determines your maximum mortgage size, not the rate you pay.
What is the minimum down payment on a home in Alberta?
Federal minimums apply: 5% on the first $500,000 of purchase price, 10% on the portion from $500,000 to $1,500,000, and 20% above $1,500,000. At Alberta's average home price of $519,033, the minimum down payment is roughly ~5.2%. Below 20% requires CMHC, Sagen, or Canada Guaranty default insurance.
What first-time buyer programs apply in Alberta?
Federally: the First-Time Home Buyer Tax Credit ($1,500 non-refundable), the First Home Savings Account (FHSA — save up to $40,000 tax-free), and the RRSP Home Buyers' Plan ($35,000 withdrawal repaid over 15 years) all apply province-wide. Provincially: No LTT means no rebate needed.
Have a Alberta offer from a big bank?
Bring us a written offer from a big bank. We’ll try to beat it. If we can’t, we pay you $500. Conditions apply. See the conditions
- 5-minute pre-qualification
- No credit check to start
- Same-business-hour response