Buying in Alberta
Know what you can afford before you make an offer
Each rate here shows its APR, rate hold and conditions. Our pre-approval counts the stress test, the default insurance premium and Alberta's closing costs, so you get a number you can bid with.
No credit check, and no commitment.
Your buying snapshot
Updated earlierBased on $470,000, close to the average Edmonton home price. Every row links to a calculator.
- Today's insured 5-year fixed
- 3.89%
- 3.94% APR · effective September 21, 2026 at 9:00 a.m. MTSee every rate
- You'd qualify at
- 5.89%
- The stress test uses the greater of 5.25% or your rate plus 2 points.Run the stress test
- Alberta land transfer tax
- $0
- Alberta doesn't have one. You pay Land Titles registration fees instead, about $1,000 on a $500,000 purchase with a $400,000 mortgage.Calculate the fees
Rates as of September 21, 2026 at 9:00 a.m. MT, subject to change without notice. O.A.C. Not an offer of credit, a rate hold or a pre-approval. Daniel De Sousa, Mortgage Associate, Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage, a RECA-licensed mortgage brokerage.
- Rate held 120 daysIf rates fall while you shop, you get the lower one.
- 30+ lendersOne application, one credit check.
- A letter for your realtorBranded, sent the same day, with the conditions listed.
Who this page is for
Tick anything that sounds like you. If 2 or more fit, we'll show you where to start.
0 of 6 selected
Nothing you pick here is sent or stored. Choose 2 or more to see what we’d suggest next.
What a pre-approval should count
Your number depends on 3 things, and a bank’s online tool usually skips 2 of them. The stress test is a federal rule. You’re qualified at the greater of 5.25% or your contract rate plus 2 percentage points. At 3.89% you’d be assessed at 5.89%, not at the rate you’ll pay.
Default insurance is required if you put less than 20% down. It costs 2.80% to 4.00% of the mortgage depending on your down payment, plus 0.20% if you choose a 30-year amortization. It’s added to the mortgage, so you don’t pay it in cash. Alberta doesn’t charge provincial sales tax on the premium. Ontario, Quebec, Saskatchewan and Manitoba do, and you pay it in cash at closing.
Amortization and term are different things. You sign a 5-year term, which sets the length of the contract and the rate, inside a 25- or 30-year amortization, which is how long the debt takes to pay off. Canada doesn’t have a 30-year fixed rate. If you’ve seen one advertised, it’s an American product.
How it works
How buying works with RateLens
The first step is free, takes about two minutes and tells you what you can afford.
Step 1: Get your number
About two minutes
We run your income and debts through GDS and TDS, the 2 ratios every Canadian lender uses, at the stress-test rate instead of your contract rate. You get a maximum purchase price with the assumptions listed beside it.
Step 2: Hold your rate and get the letter
Same business day
A soft credit check turns your estimate into a pre-approval, with a rate held for up to 120 days. Your realtor gets a branded letter the same day. If rates fall while you shop, you get the lower one.
Step 3: Make your offer and close
30–60 days after an accepted offer
Once your offer is accepted, we take the file to the lender that fits it best, clear the conditions and instruct your lawyer. We'll keep you posted on what's outstanding at every stage.
Daniel De Sousa, Mortgage Associate, handles the lender and the lawyer through to funding.
The rules
Down payment, insurance and qualifying rules
These rules are fixed, and you can check every one of them today, before you start looking.
Down payment
Calculate the minimum5% of the first $500,000 · 10% from $500,000 to $1.5M · 20% above $1.5M, which is also the ceiling for default insurance.
On $470,000, that's $23,500.
Default insurance
Calculate the premiumRequired under 20% down. 4.00% / 3.10% / 2.80% of the mortgage by band, plus 0.20% for a 30-year amortization. It’s added to the mortgage, so you don’t pay it in cash.
From CMHC, Sagen or Canada Guaranty. It can't be cancelled, and it isn't the same as US-style PMI.
Stress test
Run itYou qualify at the greater of 5.25% or your rate plus 2 percentage points.
OSFI Guideline B-20, reaffirmed in January 2026.
GDS / TDS
Check your ratiosHousing costs stay under 39% of gross income, and all debts under 44%. Both are calculated at the stress-test rate.
TDS is usually the one that limits you, and a car payment is usually why.
Land transfer tax
Calculate yoursNone in Alberta. You pay Land Titles registration fees instead: $50 plus $5 per $5,000 of value, on the transfer and again on the mortgage.
About $1,000 on a $500,000 purchase with a $400,000 mortgage. In Ontario you'd pay provincial land transfer tax, plus a separate municipal one in Toronto.
Closing costs
Itemize themBudget 1.5–4% of the purchase price on top of the down payment. Alberta is at the low end of that range because there’s no land transfer tax and no PST on the insurance premium.
Include the Real Property Report with compliance stamp. Most Alberta sellers are asked to provide one.
How we calculate your qualifying rate. Under OSFI Guideline B-20, lenders qualify you at the higher of your contract rate plus 2 percentage points, or 5.25% (the minimum qualifying rate). Since November 21, 2024, OSFI no longer prescribes this test for eligible uninsured straight switches at renewal between federally regulated lenders, with no increase in the loan amount or remaining amortization. Lenders still assess creditworthiness. New purchases and refinances generally require qualification. Provincially regulated credit unions (including Alberta credit unions) aren’t bound by Guideline B-20 and set their own qualifying policies, which is one reason a broker can sometimes place a file a bank cannot. Rules current as of September 21, 2026. Source: OSFI Guideline B-20.
Down payment and costs
What each down payment band costs
Calculated at $470,000, close to the average Edmonton price. The premium beside each band is the calculated figure, not a rounded example.
Down payment and the insurance premium
At $470,000, 25-year amortization.
| Down payment | Amount | Premium | Mortgage |
|---|---|---|---|
| 5% | $23,500 | $17,860 | $464,360 |
| 10% | $47,000 | $13,113 | $436,113 |
| 15% | $70,500 | $11,186 | $410,686 |
| 20% | $94,000 | None | $376,000 |
Putting 20% down removes the premium and opens up the uninsured lender list. At this price, that’s $70,500 more cash for $17,860 less debt. That trade isn’t always worth it, so we’ll run both for you.
Cash you need at closing in Alberta
Two of these lines are $0 here and five figures in some other provinces, so we’ve listed them anyway.
- Down paymentFrom $23,500 at this price
- Land Titles registration fees$550 on the transfer + $450 on the mortgage = $1,000
- Land transfer taxNone in Alberta
- PST on the insurance premiumNone in Alberta
- Legal fees and disbursementsTypically $1,200–$2,000
- Title insuranceTypically $250–$500
- Home inspectionTypically $400–$700
- Real Property Report with compliance stampUsually the seller provides it, but it's negotiable
Third-party fee ranges are typical Edmonton figures, not quotes. They vary by firm and by file. Land Titles fees follow the statutory schedule effective 2024-10-20.
Your options
Compare amortization and down payment options
Each option is laid out the same way so you can compare them side by side.
25-year amortization
The Canadian default. Higher payment, a lot less interest.
Best for buyers who can carry the payment comfortably
Compare 25 vs 30Pays off the debt 5 years sooner and avoids the 0.20% insurance surcharge. If the payment fits your budget with room to spare, this is the cheaper mortgage over the full amortization, by a wide margin.
30-year amortization
Lower payment, 0.20% more premium, more interest overall.
Best for first-time buyers and new-build purchasers stretching to qualify
Available on insured mortgages to all first-time buyers and all buyers of newly built homes. Choose it if it’s the difference between buying and not buying, and make lump-sum prepayments when you can.
20% or more down
No premium, more lender choice, no $1.5M price ceiling.
Best for move-up buyers with equity from a sale
Uninsured rates are slightly higher than insured ones, because the insurance is what brings insured rates down. So you’re weighing the premium you avoid against the higher rate you pay. At this price, you’d avoid $17,860 in premium.
Pre-qualification vs. pre-approval
A pre-qualification helps you work out your budget. A pre-approval is what you use to write an offer, and realtors know the difference.
| Measure | Rate quote (pre-qualification) | Pre-approval |
|---|---|---|
| Takes | About two minutes | 10–12 minutes, then a call |
| Credit check | None | Soft only. It doesn’t affect your score |
| What you get | An estimated rate and payment range | A held rate and a letter your realtor can use |
| Good for | Working out your budget | Writing an offer |
| Binding? | No | No. It's a rate hold, not a commitment |
Start before you look. Sellers in competitive markets discount offers without a pre-approval. Knowing your ceiling also keeps you from falling for a house $80,000 above it. Start the pre-approval.
Documents you'll need
Most files need these 8 things. Gathering them early can mean a 2-day approval instead of a 2-week one.
See the full document checklist- Government photo ID for every applicant.
- 2 recent pay stubs.
- A letter of employment stating your role, salary and start date.
- 2 years of T4s or Notices of Assessment.
- 90 days of statements for the account holding your down payment.
- A gift letter if any of the down payment is a gift, plus proof it arrived.
- The purchase agreement and MLS® listing, once you have an accepted offer.
- Your lawyer’s name and contact details.
Self-employed? Your list is different: 2 years of NOAs, T2125s or financial statements, and a CRA Statement of Account. See the self-employed list.
Today's rates
Today's purchase mortgage rates
Insured means less than 20% down with default insurance in place, and those rates are usually lower. Uninsured means 20% or more down. It prices slightly higher, and more lenders are open to you.
Effective September 21, 2026 at 9:00 a.m. MT
| Term | Rate | APR | Payment per $100,000 | Who it’s for | Get this rate |
|---|---|---|---|---|---|
| 5-year fixed | 3.89% | 3.94% | $520/mo | Insured | Hold this rate |
| 5-year fixed | 3.99% | 4.04% | $525/mo | Insurable | Hold this rate |
| 5-year fixed | 4.09% | 4.14% | $531/mo | Uninsured | Hold this rate |
| 3-year fixed | 3.79% | 3.84% | $515/mo | Insured | Hold this rate |
| 5-year variablePrime − 0.90% | 3.55% | 3.60% | $502/mo | Insured | Hold this rate |
Payment per $100,000 assumes a 25-year amortization, monthly payments and semi-annual compounding. We calculate it from the rate in the same row. Run it on your own number.
Rates shown are current as of September 21, 2026 at 9:00 a.m. MT and are subject to change without notice. Rates are available on approved credit (O.A.C.) only, are subject to the terms and conditions of the applicable lender, and may vary based on your credit history, income, down payment or equity, loan-to-value, property type and location, occupancy, amortization, and whether the mortgage is insured, insurable or uninsured.
Annual percentage rates (APR) shown assume a mortgage amount of $500,000, an amortization of 25 years with monthly payments, and include no lender or brokerage fees. Fixed rates are compounded semi-annually, not in advance, as required under section 6 of the federal Interest Act; variable rates are compounded monthly. Payment figures exclude property taxes, heating, condominium fees and default insurance premiums unless stated. Insured rates require mortgage default insurance and are available only on qualifying transactions.
Rates may contain errors or omissions and do not constitute an offer of credit, a rate hold or a pre-approval. Not all applicants will qualify. Contact Daniel De Sousa, Mortgage Associate, to confirm the rate available to you. Daniel De Sousa is licensed by the Real Estate Council of Alberta (RECA) and registered with Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage.
A lower insured rate doesn’t always mean a cheaper mortgage. The premium is added to your balance, and you pay interest on it for the whole amortization. We’ll show you the all-in figures for both before you choose.
Calculators
Run your own numbers
Free, with no email required. They use Canadian rules: semi-annual compounding, the down payment ladder and the stress test.
Affordability
Your maximum price at the contract rate and at the stress-test rate, with GDS and TDS shown as bars.
Mortgage payment
Every Canadian payment frequency, including accelerated, with the full amortization schedule.
Down payment
The minimum down payment on your price, and what reaching 20% is worth.
CMHC insurance premium
The premium by band, the 30-year surcharge, and whether the price is insurable at all.
Stress test
Where you stand against the qualifying rate, and what to change if you don't pass.
Closing costs
Alberta closing costs itemized: Land Titles fees, legal, title insurance, inspection and adjustments.
Daniel De Sousa, Mortgage Associate with Indi Mortgage
Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage · RECA licensed · 4990 92 Ave NW #105, Edmonton. Verify our licence on RECA ProCheck(opens in a new tab)
Client reviews posted here are unedited, and each one names who handled the file. We don’t pay for reviews or filter them.
Daniel De Sousa
Mortgage Associate, Indi Mortgage
Handles first-time and move-up purchases, accepted offers on a financing condition, new builds in the Edmonton region. Licensed by the Real Estate Council of Alberta and registered with Indi Mortgage, working out of the Edmonton office at 4990 92 Ave NW #105. Verify our licence on RECA ProCheck(opens in a new tab)
Daniel De Sousa, Mortgage Associate, is licensed by the Real Estate Council of Alberta (RECA) and registered with Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage, a mortgage brokerage licensed by RECA. Verify our licence on RECA ProCheck(opens in a new tab)
Monday–Friday, 9:00 a.m.–5:00 p.m. Mountain Time. Closed Saturday and Sunday. Book 15 minutes if that’s easier.
Questions about buying a home
How much house can I afford?
Two ratios decide it. GDS says your mortgage payment, property taxes, heat and half of any condo fees should stay under 39% of your gross income. TDS says all of that plus your other debt payments should stay under 44%. Both are calculated at the stress-test rate.
Our affordability calculator shows both ratios as bars, so you can see which one limits you. It’s usually TDS, and it’s usually because of a car payment.
Is a pre-approval a guarantee?
No. A pre-approval holds a rate and confirms that you qualify based on the information you gave us. Final approval still depends on verified documents and on the property. A low appraisal or a condo with a weak reserve fund can change the answer. That’s why financing conditions exist, and why we recommend keeping one in your offer.
Should I get pre-approved before I start looking?
Yes. Sellers in competitive markets discount offers without one. Knowing your ceiling also keeps you from falling for a house $80,000 above it.
What if I find a house before my rate hold expires?
If rates have dropped since you got your hold, you get the lower rate. If they’ve gone up, you keep the rate you held.
Does getting pre-approved hurt my credit?
Not at the pre-approval stage. The two-minute rate quote doesn’t touch the credit bureaus. A full pre-approval uses a soft credit check, which doesn’t affect your score and which other lenders can’t see. A hard check happens once, after you’ve chosen a lender and told us to go ahead. If you applied to 6 lenders yourself, that would mean 6 hard checks.
What does a quote cost me?
Nothing, on a standard residential purchase. Lenders pay Indi Mortgage a fee when your mortgage closes, so you don’t pay us for a quote. That payment doesn’t change your rate. Some alternative and private mortgages do carry a lender or brokerage fee. If yours does, we’ll tell you the dollar amount in writing before you sign anything.
Can I use my FHSA and my RRSP together?
Yes, and it’s usually worth doing. The First Home Savings Account takes $8,000 a year, up to a $40,000 lifetime limit. The Home Buyers’ Plan lets you withdraw up to $60,000 per person from an RRSP tax-free, repaid over 15 years. Together, that’s roughly $100,000 per buyer of tax-advantaged down payment room. See how the 5 programs work together.
What happens between an accepted offer and funding?
We submit your file to the lender that fits it. The lender orders an appraisal if one is needed, and we clear the conditions (income, down payment source and property). Instructions then go to your lawyer, who handles the Land Titles registration and the closing adjustments. It usually takes 30 to 60 days. The closing date in your purchase agreement sets the timing, not us.
Related mortgages
Read next
- Alberta land transfer tax explainedAlberta doesn't have one. Here's what you pay instead, and when the fees changed.
- Down payment requirements in CanadaThe minimums, the $1.5M cap, and which sources a lender will accept.
- The mortgage process, start to finishEvery step from quote to keys, with typical timing for each.
Get a number you can act on
It's 3 fields. Daniel, a licensed mortgage associate at our Edmonton office, gets back to you with a maximum price and the assumptions behind it.
- We check your file against our whole lender panel.
- We stress-test the maximum before we give it to you.
- If it makes sense, we'll hold a rate for up to 120 days while you shop.
Prefer to talk? (825) 797-5417 · Mon–Fri 9–5 MT
How we get paid. Daniel De Sousa arranges mortgages through Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage, a licensed mortgage brokerage, not a lender. The brokerage and Daniel are compensated by the lender you choose when your mortgage funds (paid by the lender, not by you). Compensation varies by lender and product and doesn’t change the rate you’re quoted. A lender fee or brokerage fee is uncommon and happens mainly on alternative or private lending. If one applies to your file, we’ll disclose the exact amount in writing before you sign anything. We’ll tell you if any product we recommend pays us more than an alternative we considered. Before we start work on your file, you’ll receive a written service agreement setting out our services, our compensation and any fee that applies to you.
See your maximum price before you start looking
About two minutes and no credit check. You'll see your number with every assumption listed beside it.
No credit check, and no commitment.