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Best Mortgage Rates Alberta

Compare the Best Mortgage Rates in Alberta and find the lowest Fixed and Variable Mortgage Rates currently offered by banks, brokers & credit unions. Getting the right mortgage can help you save thousands over the course of your mortgage. A right mortgage in Alberta can help you save thousands of dollars over the term of your mortgage.

With our mortgage rate comparison tool, you get the best mortgage rates in Alberta from leading Canadian banks, mortgage brokers Alberta & credit unions at a click of a button.

Best 5-Year Fixed

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: BMO 5-year Fixed Mortgage Rate

Rate Term

5-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

1.79%
×

BMO 5-year Fixed Mortgage Rate

1.79%

Rate Term 5-Year-Fixed
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
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0

Best 5-Year Variable

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: motusbank 5-year Variable Mortgage Rate

Rate Term

5-Year-Variable

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

1.70%
×

motusbank 5-year Variable Mortgage Rate

1.70%

Rate Term 5-Year-Variable
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
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0

Best 3-Year Fixed

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: HSBC 3-year Fixed Mortgage Rate

Rate Term

3-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

1.79%
×

HSBC 3-year Fixed Mortgage Rate

1.79%

Rate Term 3-Year-Fixed
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
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0

Here are some of the Best Mortgage Rates in Alberta

Mortgage rates in Alberta vary from time to time depending on some factors affecting the economy. In order to get the best mortgage rates in Alberta, you need to compare those rates from various banks and lending institutions. There are also conditions stipulated on the contract that may be beneficial or aggravating to your situation. 

Rate Hold: 90 Days
Down Payment: Less Than 20%

Specification: UNIQ Rate – 5-year Variable Mortgage Rate – High Ratio

Rate Term

5-Year-Variable

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

High Ratio

Province

ON

Rate Hold Until

90 Days

Down Payment Required

Less Than 20%

Featured!
1.20%
×

UNIQ Rate - 5-year Variable Mortgage Rate - High Ratio

1.20%

Rate Term 5-Year-Variable
Closed
Mortgage Type Less Than 20%
High Ratio
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: HSBC 5-year Variable Mortgage Rate – High-Ratio

Rate Term

5-Year-Variable

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

1.34%
×

HSBC 5-year Variable Mortgage Rate - High-Ratio

1.34%

Rate Term 5-Year-Variable
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: UNIQ Rate – 5-year Variable Mortgage Rate – Conventional

Rate Term

5-Year-Variable

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

ON

Rate Hold Until

90 Days

Down Payment Required

20% or More

Featured!
1.35%
×

UNIQ Rate - 5-year Variable Mortgage Rate - Conventional

1.35%

Rate Term 5-Year-Variable
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: Meridian 5-year Variable Closed Mortgage Rate

Rate Term

5-Year-Variable

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

1.35%
×

Meridian 5-year Variable Closed Mortgage Rate

1.35%

Rate Term 5-Year-Variable
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: HSBC 5-year Fixed Mortgage Rate

Rate Term

5-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

1.39%
×

HSBC 5-year Fixed Mortgage Rate

1.39%

Rate Term 5-Year-Fixed
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Rate Hold: 90 Days

Specification: Tangerine 5-Year Variable Mortgage

Rate Term

5-Year-Variable

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Approval

Yes

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Featured!
1.45%APR 1.91%*
0

Rate Hold: 90 Days
Down Payment: Less Than 20%

Specification: UNIQ Rate – 5-year Fixed Mortgage Rate – High Ratio

Rate Term

5-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

High Ratio

Province

ON

Rate Hold Until

90 Days

Down Payment Required

Less Than 20%

Featured!
1.69%
×

UNIQ Rate - 5-year Fixed Mortgage Rate - High Ratio

1.69%

Rate Term 5-Year-Fixed
Closed
Mortgage Type Less Than 20%
High Ratio
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: motusbank 5-year Variable Mortgage Rate

Rate Term

5-Year-Variable

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

1.70%
×

motusbank 5-year Variable Mortgage Rate

1.70%

Rate Term 5-Year-Variable
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: Tangerine 2-Year Fixed Mortgage

Rate Term

2-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

1.78%
0

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: BMO 5-year Fixed Mortgage Rate

Rate Term

5-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

1.79%
×

BMO 5-year Fixed Mortgage Rate

1.79%

Rate Term 5-Year-Fixed
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: HSBC 3-year Fixed Mortgage Rate

Rate Term

3-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

1.79%
×

HSBC 3-year Fixed Mortgage Rate

1.79%

Rate Term 3-Year-Fixed
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: UNIQ Rate – 5-year Fixed Mortgage Rate – Conventional

Rate Term

5-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

ON

Rate Hold Until

90 Days

Down Payment Required

20% or More

Featured!
1.89%
×

UNIQ Rate - 5-year Fixed Mortgage Rate - Conventional

1.89%

Rate Term 5-Year-Fixed
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: Meridian 5-year Fixed Mortgage Rate

Rate Term

5-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

Popular
1.89%
×

Meridian 5-year Fixed Mortgage Rate

1.89%

Rate Term 5-Year-Fixed
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Rate Hold: 90 Days
Down Payment: Less Than 20%

Specification: Meridian 5-year Fixed Mortgage Rate (High-Ratio)

Rate Term

5-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

High Ratio

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

Less Than 20%

Best Rate
1.89%
×

Meridian 5-year Fixed Mortgage Rate (High-Ratio)

1.89%

Rate Term 5-Year-Fixed
Closed
Mortgage Type Less Than 20%
High Ratio
Prepayment 20% / 20%
-

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: Tangerine 3-Year Fixed Mortgage

Rate Term

3-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

1.89%
2

Best 5-Year Mortgage Rates Alberta

5-Year Fixed Mortgage Rates Alberta can vary based on the financial institutions. We have compiled a list of the best 5-year fixed mortgage rates currently offered in Alberta from Banks, Mortgage Brokers and Credit Unions.

Rate Hold: 90 Days
Down Payment: Less Than 20%

Specification: Meridian 5-year Fixed Mortgage Rate (High-Ratio)

Rate Term

5-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

High Ratio

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

Less Than 20%

Best Rate
1.89%
×

Meridian 5-year Fixed Mortgage Rate (High-Ratio)

1.89%

Rate Term 5-Year-Fixed
Closed
Mortgage Type Less Than 20%
High Ratio
Prepayment 20% / 20%

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: Equitable Bank 5-year Fixed Mortgage Rate

Rate Term

5-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

3.59%
0

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: HSBC 5-year Fixed Mortgage Rate

Rate Term

5-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

1.39%
×

HSBC 5-year Fixed Mortgage Rate

1.39%

Rate Term 5-Year-Fixed
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

Rate Hold: 90 Days
Down Payment: 20% or More

Specification: BMO 5-year Fixed Mortgage Rate

Rate Term

5-Year-Fixed

Rate Type

Closed

Prepayment

20% / 20%

Mortgage Type

Conventional

Province

AB, BC, MB, NB, NL, NS, NT, ON, PEI, QC, SK

Rate Hold Until

90 Days

Down Payment Required

20% or More

1.79%
×

BMO 5-year Fixed Mortgage Rate

1.79%

Rate Term 5-Year-Fixed
Closed
Mortgage Type 20% or More
Conventional
Prepayment 20% / 20%

New Lock this rate form

Name(Required)
Terms and conditions may apply. Promotional rates only for high-ratio insured mortgages with LTV > 80%.
Get This Rate
0

5-Year Mortgage Rates Alberta

Before you understand how 5-year Mortgage Rates Alberta to work, know that the 5-year term is different from the amortization period. For instance, say, the amortization period is 25 years. This period is the time within which you’ll clear the mortgage payment. However, the 5-year plan is the term for which you’ll pay the agreed interest rate that can be either fixed or variable. At the end of this time, you can work out a new interest payment plan with your lender.

Understanding 5-Year Fixed Mortgage Rates Alberta

Should you opt for the 5-year fixed Mortgage Rate Alberta, you’ll agree on a fixed rate of interest that you’ll pay for 5 years irrespective of the market rates. These interest programs are much preferred in Canada, and they offer you many advantages.

Once you agree on the interest rate, you need not worry about having to make uncertain payments that could make it difficult for you to budget your expenses.
Fixed Mortgage Rate Alberta plans are typically lower and thus, more favourable for you if you’re looking to make payments on a long-term basis.
If you have no intention of selling or refinancing your home within the next 5 years, this plan is ideal.
You can always opt for the variable Mortgage Rate Alberta plans or any other fixed rates that may be for periods of 1 year to 4 years. However, your lender will require you to prove that you can make payments according to the posted 5-year fixed rate. This rate is typically at least 2 percentage points higher than the interest rate for the 5-year fixed Mortgage Rate Alberta.
You can choose to buy the 5-year Mortgage Rate Alberta plan during the market phase when interest rates are low.
You can have a fair idea of the expected interest rates because these figures vary according to the earnings from government bonds.
When you switch to a 5-year Mortgage Rate Alberta, you can expect that your lender will offer to cover the legal and appraisal fees involved. However, this facility is not extended to a mortgage linked to a line of credit or collateral charge mortgage. You’ll have to get them refinanced when you find a different lender.

Opting for 5-year fixed Mortgage Rates Alberta can have downsides too:

You’re likely to incur a higher penalty if you should choose to terminate the plan ahead of schedule. That’s because these penalties are calculated according to the posted rates that banks have in place of actual rates.

Typically fixed Mortgage Rates in Alberta are more expensive and have higher interest rates as compared to the variable Mortgage Rates in Alberta. Though, the markets have noted a downtrend in the last 30 years or so.

Here’s some added information you might interesting:

  • About 75% of mortgage seekers opt for the payment plan with fixed rates in place of variable rates.
  • There aren’t any significant differences in the interest rates between the fixed and variable plans and may only be about 0.5%.
  • You might find that around 50% of mortgages have terms for 5 years depending on the year when they are taken.

Should I choose a Variable Rate or a Fixed Rate Mortgage Rate in Alberta?

Deciding whether or not to go with a variable mortgage rate or a fixed-rate mortgage is one of the biggest factors on how much interest you will pay. Just ask any of the happy Albertans who have used Offerhub.ca to shop for a mortgage and chosen a variable-rate mortgage; they will tell you all about the savings they are enjoying.

Due to our variable rates being consistently lower than fixed rates, half of the Albertans who use Offerhub.ca opt for the variable-rate mortgage. The average savings between a 5-year variable-rate mortgage in Alberta compared to the same fixed-rate mortgage has been at least 0.5%. That may not seem like much, but it sure adds up over time!

How to find the Lowest Mortgage Rates in Alberta?

With Offerhub.ca, you can sort and filter through the lowest mortgage rates in Alberta to find not only the cheapest but also the most suited mortgage plan for your needs. You can look for specific mortgage amounts, pin codes, type of rate and even term to find the ideal plan for your needs!

Mortgage Rate Comparison Alberta

With Offerhub.ca, you can filter out the middleman and do the entire process on your own in just a few clicks. With this, you can find the mortgage plan that YOU want without paying anything extra to anyone. Get all the information about mortgage rates within seconds using Offerhub.ca!

Why should you Compare Mortgage Rates in Alberta?

Looking for the best mortgage rates in Alberta? Offerhub.ca provides the most up to date, current rates, simply choose your Province, select applicable choices and compare the best rates in the industry. Offerhub.ca helps you connect with a mortgage broker who can identify the best deal for your home purchase or mortgage refinancing. Compare mortgage rates in Alberta and get a detailed, accurate comparison of the best mortgage rates in Alberta.

Finding the Lowest Mortgage Rates in Alberta

No matter which province or territory you reside in, finding the best mortgage rate can save you thousands of dollars. Obviously, there are not many people who can purchase property without taking out a home loan. Taking our home loan lets you buy, live in and/or use a home without needing to come up with the full dollar amount at the time of purchase.

 

Usually, the amount of the loan is equal to the majority of the home’s worth, but the downfall of this is that you will be required to pay interest on the loan. Most lenders insist on a down payment, i.e., a payment equal to a portion of the property’s worth. For instance, if a home is worth $200,000 and the buyer would need to make a down payment of 10%. This would equal a $20,000 down payment ($200,000 x 10%).

 

To make up the balance, the lender would loan you $180,000 ($200,000 minus the $20,000 down payment).

What are the different rate options available for my mortgage in Alberta?

There are a wide variety of rate options available for rate type and terms. The most popular rates in Canada are 5 Year Fixed, 5 Year Variable & 3 Year Fixed, You should consult your mortgage broker who can help you assist in making the right decision on choosing the rate that would suit your financial situation and needs.

About Mortgage Rates in Alberta

You work hard for your money and there is no reason you should throw it away just so you can buy a house. This is why getting the best mortgage rate possible is so important. A 0.5% or 1% lower interest rate over the length of your mortgage will translate directly into huge savings for you down the road.

Offerhub.ca goes through the work of shopping the most competitive brokers, banks, and lenders in Alberta so you don’t have to. Our comparison tools make it easy for you to see all the options available in one place and help you make the most informed decision. And they are updated daily so you know you’re getting the most up-to-date information possible; all free of charge!

To give you an idea of the possible savings: this year, our 5-year fixed-rate mortgage rates in Alberta have been averaging less than 0.5% lesser than the competition and more than 1.5% less than the same bank-posted averages in Alberta! If you’re wondering how that translates into numbers. Imagine your $400,000 dollar mortgage, and with our rates, you would save more than $100,000 over the life of the mortgage.

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