Calgary Mortgage FAQ

5% on the first $500,000, 10% on the portion from $500K to $999,999, and 20% on homes $1 million+. For a $600K home, the minimum is $35,000.

No. Alberta only charges land title registration fees ($50 + $2 per $5,000), which are minimal compared to Ontario's or BC's land transfer taxes.

The OSFI B-20 stress test requires you to qualify at the greater of your contract rate + 2% or 5.25%. This reduces maximum borrowing power by roughly 20%.

4.00% of the loan with 5-9.99% down, 3.10% with 10-14.99% down, 2.80% with 15-19.99% down, and 0% with 20%+ down.

Accelerated biweekly payments save thousands in interest by making the equivalent of 13 monthly payments per year instead of 12, shortening your amortization by 3-4 years.

Typically $3,000-$5,000 including land title fees, legal fees, title insurance, and home inspection. Much lower than Ontario or BC.

Yes, the Home Buyers' Plan lets first-time buyers withdraw up to $60,000 from their RRSP tax-free. The FHSA also allows tax-free withdrawals up to $40,000.

Canadian fixed-rate mortgages compound semi-annually, unlike US monthly compounding. This slightly reduces the effective interest cost at the same nominal rate.

Rates change frequently. Use our payment calculator with current rates to see your exact costs. A mortgage broker can often negotiate 0.5-1.0% below posted bank rates.

Historically, variable rates save money over time, but fixed gives payment certainty. Consider your risk tolerance and use our rate impact calculator to see how rate changes affect your payment.