TODAY'S
MORTGAGE RATES IN Alberta

Alberta mortgage rates change with national funding markets, but the right lender choice is shaped by local factors: employment type, property location, down payment, amortization, and whether you are buying, renewing, or refinancing.

Fixed Versus Variable

Fixed rates can work well when you value payment certainty or need a predictable approval. Variable rates can make sense when the discount, payment rules, and conversion options fit your plan. Compare the full contract, not just the starting rate.

What This Means for Alberta Buyers

Alberta buyers often have more price range flexibility than borrowers in higher-cost provinces, but lender rules still matter. Self-employed income, energy-sector overtime, rental-suite income, and relocation timing can all affect which lenders are willing to compete for your file.

Rather than trying to time the market, focus on finding a mortgage that fits your plans, your budget, and your comfort with risk. That's where Everyrate can help—by showing you live mortgage offers from multiple lenders so you can compare and choose confidently.

Rates are only one part of an Alberta mortgage decision. Local employment, migration, new construction, and inventory levels can change how much negotiating power buyers have from one city to another.

What to Check Before You Offer

• Inventory: low supply can make rate holds and fast document turnaround more important
• Property type: detached, condo, acreage, and new-build files can have different lender requirements
• Employment mix: bonus, overtime, contract, and self-employed income may need lender-by-lender review

What's Driving the Market?

• Population Growth: new residents can support rental demand and entry-level purchase demand

• Economic Strength: Oil and gas sector stability, plus tech and manufacturing growth

• Affordability: Still more affordable than BC and Ontario for many buyers

Whether you're buying your first home or looking for your next investment, Alberta's mix of affordability and growth potential makes it worth comparing more than one lender path before you commit.

You need 5% down to get a mortgage. To skip mortgage insurance, you'll need 20%. The total dollar amount depends on where you're buying and how much the home costs.

To give you a ballpark idea, here's what 5% and 20% down payments look like based on average detached home prices in a few key Alberta regions:

Heads up: These numbers don't include legal fees or closing costs. Budget a little extra so you're not caught off guard.

Alberta has some great programs to help first-time buyers get into the market. Here's a quick overview of each:

Alberta PEAK Program

• What it is: A shared equity program that helps with down payments
• How it works: The province contributes up to 10% of your home's purchase price
• Eligibility: First-time buyers with household income under $117,000
• Property limit: Homes valued up to $450,000

The First Place Program in Edmonton

• What it is: Edmonton-specific program offering down payment assistance
• How it works: Provides up to $15,000 in down payment support
• Eligibility: First-time buyers purchasing in Edmonton
• Income limit: Household income under $90,000

Attainable Homes Calgary (AHC)

• What it is: Calgary program offering affordable homeownership
• How it works: Sells homes below market value to qualified buyers
• Eligibility: First-time buyers with household income under $120,000
• Property types: Townhomes and condos in various Calgary neighbourhoods

Why Alberta's Programs Stand Out

We believe Alberta offers some of the most practical and accessible first-time buyer programs in Canada, especially if saving for a full down payment has been holding you back. Whether you need help with the down payment or want to explore affordable housing options, these programs can make a real difference.

Each program has its own criteria, so it's worth reviewing the fine print. A good broker can walk you through your options and help you apply for the ones that fit your income, assets, and long-term goals.

Beyond your down payment, you'll need to budget for several other costs when buying a home in Alberta:

Legal and Closing Costs

• Legal fees: $1,500–$2,500 for a real estate lawyer
• Title insurance: $200–$400 to protect against title defects
• Home inspection: $400–$600 for a professional inspection
• Appraisal: $300–$500 if required by your lender

Property Transfer Tax

Alberta doesn't have a land transfer tax, which can save you thousands compared to other provinces. This is one of the major advantages of buying in Alberta.

Property Taxes and Insurance

• Property taxes: Vary by municipality, typically 0.5–1.5% of home value
• Home insurance: $1,200–$3,000 annually depending on coverage
• Utility setup: $200–$500 for deposits and connection fees

Budget an additional 1.5%–3% of your home's purchase price for these costs to avoid any surprises.

Alberta follows federal mortgage regulations, but there are some provincial specifics to be aware of:

Federal Requirements

• Stress test: Must qualify at 5.25% or your rate + 2%, whichever is higher
• Maximum amortization: 25 years for uninsured mortgages, 30 years for insured
• Down payment minimums: 5% for first $500,000, 10% for amounts above

Provincial Oversight

• Alberta Securities Commission: Regulates mortgage brokers and lenders
• Consumer protection: Strong provincial laws against predatory lending
• Disclosure requirements: Lenders must provide clear terms and conditions

These regulations ensure a safe and transparent mortgage market for Alberta borrowers.