Mortgage broker services in Edmonton

No, and neither does anywhere else in Alberta. Unlike Toronto, Edmonton has no municipal land transfer tax either.

You pay only Land Titles registration fees: $50 plus $5 per $5,000 of value on the transfer, and the same formula again on the mortgage registration. On a $500,000 purchase with a $400,000 mortgage, that's about $1,000. There's no first-time buyer rebate to apply for, because there's no tax to rebate.

Itemize your Edmonton closing costs

At the August 2026 average price of about $469,602, the legal minimum is 5% of the first $500,000, or roughly $23,480.

With less than 20% down, default insurance is required, and the premium is added to your mortgage instead of being paid in cash. The rule is the same across Canada. What's different in Edmonton is the price it applies to: the same 5% rule against a Toronto average gives a very different number.

Calculate your down payment

Budget roughly 1% of assessed value a year, all in. That's the City of Edmonton's residential municipal mill rate of about 7.63 plus the provincial education requisition.

On a $450,000 assessment, that's around $4,500 a year, or about $375 a month. Lenders count it in your GDS ratio whether you pay it monthly through your mortgage or once a year to the City. The rate changes every year, so check your own property on the City of Edmonton's property tax page.

Usually 30 to 60 days from an accepted offer on a resale home. Your lawyer's timeline sets it, not ours.

New builds work differently. Possession dates 6 to 12 months out are routine in the Edmonton region, which is longer than a standard rate hold, so those files need a plan for the rate. On a resale, watch for one Alberta-specific item: the Real Property Report with a municipal compliance stamp. The seller is usually asked to provide one, it takes weeks to get, and a missing one delays your closing. Ask for it early.

It changes from term to term, but the shape of the market stays the same.

The Big Six calculate prepayment penalties off posted rates, while credit unions and monoline lenders generally use discounted rates. On a broken 5-year mortgage, that gap can run into five figures. Alberta credit unions are provincially regulated, which gives them room on some uninsured files that a federally regulated bank doesn't have. That helps on self-employed and variable-income applications. Several of the most competitively priced lenders in this province also don't have a single Edmonton branch. We'll show you the shortlist and why each lender is on it.

Yes, it's a large part of what we do. You can be pre-approved before you have an Alberta address, an Alberta driver's licence or an Alberta credit history.

What matters is verifiable income, a down payment with a documented trail, and a start date. Your Canadian credit file is national, so it doesn't reset when you move to Alberta.

Moving to Alberta

That's your decision, and a mortgage broker shouldn't make it for you. We'll give you the numbers.

As of August 2026, inventory is up sharply year over year and sales are down, so buyers have time and room to negotiate. Detached prices are holding, while townhouse and apartment prices have softened on heavy new supply. Edmonton's price-to-income ratio is about 4.3, the lowest of any major Canadian city, compared with 12.2 in Toronto. There's no need to rush.