Best 3-year variable mortgage rates in Alberta.
Today’s best 3-year variable rate in Alberta is 3.55%. We compare 3-year variable rates across 100+ Canadian lenders for Alberta and lock your best on one application, with no bureau pull to start.
The best 3-year variable rate in Alberta today is approximately 3.55% — about $2,084/month on Alberta’s average price of $519,033 with 20% down over a 25-year amortization. A 3-year variable is a shorter-commitment variable for borrowers who want flexibility and a quick re-shop. Alberta has ATB Financial as a unique provincial Crown lender competing aggressively on rate alongside the Big-6 and monolines.
Insured vs uninsured: the lowest 3-year variable rates are usually insured pricing: a purchase with less than 20% down, backed by CMHC, Sagen or Canada Guaranty. Uninsured files (20%+ down, homes over $1.5M, refinances) typically price higher. APR is shown only where the lender publishes one that differs from the rate.
Rates illustrative; your file (credit, income, LTV) sets your personalized rate. See all Alberta rates →
Alberta mortgage payments by term
| Term | Best rate | Est. monthly payment* |
|---|---|---|
| 5-Year Fixed | 4.19% | $2,227/mo |
| 5-Year VariableLowest | 3.50% | $2,073/mo |
| 3-Year Fixed | 4.04% | $2,193/mo |
| 3-Year Variable | 3.55% | $2,084/mo |
| 2-Year Fixed | 3.99% | $2,182/mo |
| 1-Year Fixed | 4.19% | $2,227/mo |
| 4-Year Fixed | 4.24% | $2,239/mo |
| 7-Year Fixed | 5.00% | $2,415/mo |
| 10-Year Fixed | 5.34% | $2,496/mo |
What a 3-year variable costs on a typical Alberta home
Worked on Alberta’s average price of $519,033 (Province of Alberta total residential average price, Alberta Real Estate Association (AREA)) at today’s best 3-year variable rate of 3.55%, a 25-year amortization and Canadian semi-annual compounding. The term figures cover the 3-year term only, and assume the rate stays at 3.55% throughout: a variable rate moves with prime.
| Minimum down (insured) | 20% down (uninsured) | |
|---|---|---|
| Down payment | $26,904 (5.2%) | $103,807 (20.0%) |
| Default insurance premium (added to the mortgage) | $19,685 | None |
| Mortgage amount | $511,814 | $415,226 |
| Monthly payment | $2,569/mo | $2,084/mo |
| Interest paid over the 3-year term | $52,070 | $42,244 |
| Principal repaid over the term | $40,409 | $32,783 |
| Balance owing at renewal (year 3) | $471,405 | $382,443 |
| Payment you must qualify at (5.55% stress-test rate) | $3,139/mo | $2,547/mo |
Alberta — No Land Transfer Tax on this price: $1,040. Paid in cash at closing, on top of the down payment.
Qualifying: lenders test your income at 5.55% (the higher of your rate + 2% or 5.25%), not at 3.55%, so the qualifying payment above is the one your income must support, together with property tax, heating and other debts. Run your own numbers in the affordability calculator.
Is a 3-year variable right for you in Alberta?
Who it suits. Borrowers who like the variable structure but want to revisit the whole mortgage in three years rather than five. It suits people expecting rate cuts who also anticipate a change (selling, refinancing, or restructuring) inside three years.
What drives the rate. Like the 5-year variable, it moves with prime and the Bank of Canada, but the shorter term means you renegotiate sooner. Availability is thinner than the 5-year variable, so the lender mix that offers it matters.
Breaking it early. Three months' interest, the same cheap-exit advantage as any variable, paired here with an even shorter commitment.
A niche term: useful, but offered by fewer lenders than the 5-year variable. You get maximum flexibility but give up the longer rate hold a 5-year term provides.
What’s specific to Alberta
The Alberta rate market. 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.
Top Alberta lenders to compare. Alberta’s 3-year variable pricing is shaped by a distinct lender mix: ATB Financial, RBC, TD, Scotiabank, Equitable Bank and others all bid for files here, and we shop the whole panel on one application.
Closing costs. On top of the rate, budget for alberta — no land transfer tax — alberta has no Land Transfer Tax. You pay Land Titles registration fees instead — $50 plus $5 per $5,000 of value on the transfer, and $50 plus $5 per $5,000 on the mortgage. Alberta raised both legs to $5 on 20 October 2024, so any figure quoted before then understates it by more than half. No LTT means no rebate needed. First-time buyers in Alberta enjoy materially lower closing costs than any other major Canadian market. Run the full number in our Alberta land transfer tax calculator.
A worked example for Alberta
On Alberta’s average price of $519,033 with 20% down ($103,807), the mortgage is $415,226. At today’s best 3-year variable rate of 3.55% over a 25-year amortization, that’s about $2,084/month using Canadian semi-annual compounding. That payment moves with prime over the term. Model your own price in the payment calculator.
Whatever your situation in Alberta
First home, renewal, refinance, self-employed or bruised credit: there's a 3-year variable path for your file, with the same 100+ lender network.
First-time buyers
5% down to your first Alberta home, with FHSA + RRSP HBP optimization.
Refinancing
Tap your Alberta home equity for renovations, debt consolidation, or investing.
Renewing
Don't auto-renew. Compare your bank's offer against the market.
Self-employed
Business-for-self files priced right, with A-lender, alt-A and private compared.
Bruised credit
B-lender and private paths now, with a mapped exit back to A-pricing.
New to Canada
Newcomer programs at the big banks; international credit accepted.
6 reasons to lock your Alberta 3-year variable rate through a broker
Why Alberta borrowers shop the whole market instead of signing their bank's first 3-year variable offer.
100+ lenders compete, not one
An Alberta bank shows you a single 3-year variable rate sheet. We put your file in front of 100+ lenders who bid for it, then pass on the volume pricing we hold as a brokerage.
Broker-channel pricing
The wholesale rate brokers access is typically 15-30 bps below a bank's posted rate. You can't get it by walking into a branch.
Built for the Alberta market
Alberta has ATB Financial as a unique provincial Crown lender competing aggressively on rate alongside the Big-6 and monolines.
Your rate held 90-120 days
A pre-approval locks today's 3-year variable rate while you shop, and many lenders honour a drop if rates fall before you close.
No bureau pull to start
We can shop your Alberta 3-year variable rate and pre-qualify you without a hard credit check, so comparing costs you nothing.
Rate Beat offer (conditions apply)
Rate-beat offer: if you bring a written, current 3-year variable offer from one of the six largest banks for the same product, term and amount, we will try to beat it or pay you $500 (keep it, or we'll donate it to your favourite charity). Conditions apply; see mortgagesquad.ca/rate-beat-guarantee. Our advice is free, because the lender pays our commission on funding.
Why shop your Alberta 3-year variable rate with us
- 100+ lenders on one application: banks, monolines, and Alberta credit unions like ATB Financial and RBC.
- Broker-channel rates 15-30 bps below posted, only a brokerage can access.
- Alberta-specific guidance: land transfer tax, rebates, and local lender fit built in.
- FSRA-licensed advice in 15+ languages.
Alberta 3-year variable rates — FAQ
What is the best 3-year variable mortgage rate in Alberta right now?
Are Alberta 3-year variable rates different from the rest of Canada?
Is a 3-year variable a good idea in Alberta?
How does breaking a 3-year variable mortgage work?
What land transfer tax will I pay in Alberta?
Can I lock this Alberta rate before I buy?
Lock your best Alberta 3-year variable rate.
Free, no bureau pull to begin. We shop 100+ lenders and hold your rate while you shop for the home.