Alberta Mortgage Rates Looking for the Best Mortgage Rates in Alberta’s Prairie Country?
From rolling wheat fields to cattle ranches and cowboy spirit, Alberta offers more than just stunning landscapes—it’s also home to the best mortgage rates! Whether you’re in Calgary, Edmonton, or anywhere in between & further, we’re here to help every Albertan achieve their homeownership dreams with rates that can’t be beat.
The Best Mortgage Rates
| Rate Term | Promotional Rate |
|---|---|
| 1 year | 5.84% |
| 2 year | 4.99% |
| 3 year | 4.44% |
| 4 year | 4.29% |
| 5 year | 4.29% |
| 3 year fixed | P-0.85 |
| 4 year fixed | P-1.00 |
| 5 year fixed | P-1.00 |
| 5 year variable | P-1.00 |
Mortgage Term
Rates From
Payments
This great rate is available for High Ratio purchases and Switches only. Offers 20% lump sum payments per year, including the ability to increase your payments by up to 20%! It’s a full-frills mortgage with a rate that can be held for up to 120 days.
This great rate is available for High Ratio deals only. Offers 20% lump sum payments per year, including the ability to increase your payments by up to 20%! It’s a full-frills mortgage with a rate that can be held for up to 120 days.
This great rate is available for High Ratio purchases and some Insured transfers only. Offers 15% lump sum payments per year, including the ability to increase your payments by up to 15%! It’s a full-frills mortgage with a rate that can be held for up to 120 days.
This great rate is available for High Ratio purchases only. Offers 20% lump sum payments per year, including the ability to increase your payments by up to 20%! There are no funny restrictions attached, such as a bona-fide sales clause, a rate that remains valid for up to 120 days. New deals only.
Welcome to mortgage freedom. Our No Commitment mortgage has the lowest open-term variable rate in Canada.
Rate discount starting from Prime -0.25% for your term. Pay it, lock it, break it or change it with no restrictions or penalties. Offered as a 5-year ARM. For insured and some conventional new purchases and switches, and for owner-occupied properties only.
Based on Prime @ 5.20%
Although past performance does not predict the future, historically variable rates have cost clients less overall. With a rate this absurdly low it’s easy to see how this could be the case!
This great rate is available for High Ratio Mortgages only and can be offered for both new purchases and some switches. Rate guaranteed at Prime -0.85% for your term and offers the ability to make extra payments and/or increase your monthly payments by up to 20% per year! Best yet, this product is full frills, meaning there are NO funny restrictions such as a bona-fide sales clause!
Prime @ 5.20%
If you don’t meet the requirements of our lowest advertised rate, we still have you covered with more low-rate options! The above range represents realistic rates if you don’t meet the outlined criteria. Certain factors, such as equity in your home and credit rating, will impact your final rate. we’re committed to providing your best-possible rate for your situation.
Additional premiums may apply to rentals, extended amortizations, non-standard properties and alternative lending options.
With lower Alberta mortgage rates- Keep more of your money!
Your best mortgage rate can save you thousands. What are you waiting for?
Apply now to get your best rate — or give us a call.
It’s free and no obligation to see what we can do for you. Whether you’re looking for a home or vacation or investment property, we will work for your best mortgage rate. Plus, we can explain the ins and outs of how lenders see your application and what you can do to get an even better rate and what documentation that will be required. Even better our secure online client portal allows you to load up your documentation with ease and security! No one does it better that Dominion Lending Centers! And, if you have more complex mortgage needs that a traditional bank can’t help you with — we have the flexibility to help find a short-term mortgage solution to see you through.
A few minutes with us could save you thousands. We will help you get the lowest rate possible for your situation. Sometimes we can even get you a lower rate with your with your own bank. Our personal based approach allows us to access a wide selection of lenders and products on your behalf — to help you save the most and reach your mortgage goals sooner.
Understanding the word "Insurance" - Yeah I know it comes up a lot...
When comparing mortgage rates, it’s important to ensure you’re comparing apples to apples—not an apple to a horse! In Canada, the word “insurance” often comes up in mortgage discussions, and it’s important to understand what it really means in the context of your mortgage. Here’s a breakdown of the key types of insurance and mortgage rates you may encounter:
1. Mortgage Default Insurance (CMHC)
Mortgage default insurance is required if your down payment is less than 20%. This insurance protects the lender if you default on your mortgage. In Canada, there are three main institutions that provide this coverage:
CMHC (Canada Mortgage & Housing Corporation)
The most well-known, government-backed insurer.
Sagen (formerly Genworth Financial)
A private insurer that offers similar protection with different terms and costs.
Canada Guaranty
Another private insurer offering competitive rates and flexible terms.
2. Mortgage Life Insurance - Manulife Mortgage Protection Plan (MPP)
Your home may be your greatest asset, but the most important thing in life is your family. With the rise in illness, household debt at an all-time high, and Canadians carrying larger mortgages, financial protection is more important today than ever before.
That’s where the Manulife Mortgage Protection Plan® (MPP) comes in. MPP ensures your mortgage payments are covered if the unexpected happens, giving you peace of mind knowing that your family will be taken care of, even if something happens to you. It’s there when life throws you a curveball, offering certainty in an uncertain future.
3. Home Insurance
Home insurance is mandatory when you have a mortgage. Every lender requires home insurance to protect the property against damage from fire, theft, or natural disasters. However, not all home insurance policies are the same.
It’s essential to shop around and fully understand what’s included in your policy. Some insurance plans might offer basic coverage, while others could include extra protection, such as flood coverage or liability insurance. Make sure that your policy covers replacement costs and liability to fully protect both your home and your investment.
Types of Mortgage Rates
Insured Rates
These are the default insured rates, typically available when your mortgage is insured through institutions like CMHC, Sagen, or Canada Guaranty. This insurance protects the lender in case of default and applies to mortgages where the down payment is less than 20%.
Insurable Rates
These rates are similar to insured rates, but the insurance premium is paid by the lender rather than the borrower. These rates are tiered based on your loan-to-value (LTV) ratio, with different rate sections available depending on how much you are borrowing relative to the value of your home.
Conventional Rates
Conventional rates apply to mortgages with a down payment of 20% or more, which means you do not need mortgage default insurance. However, conventional mortgages may require additional documentation or requirements, such as an appraisal, before approval.
