Alberta's housing market is one of Canada's strongest in 2026. Calgary and Edmonton continue to see strong interprovincial migration driving demand. No provincial land transfer tax makes Alberta one of the most affordable provinces for closing costs.
Credit unions often offer rates 0.25–0.50% below major banks. They're member-owned and reinvest profits into better rates.
In Alberta, like all of Canada, you must qualify at your contracted rate + 2% or 5.25% — whichever is higher. At a 4.89% rate, you'd need to qualify at 6.89%. This reduces your maximum purchase price by approximately 15–20%.
If your down payment is less than 20%, CMHC mortgage default insurance is required. Premiums range from 2.8% (15–19.99% down) to 4.0% (5–9.99% down). The premium is added to your mortgage, not paid upfront.
No land transfer tax. This makes Alberta one of the most affordable provinces for closing costs.
Alberta residents can access the federal FHSA ($40K tax-free per person), RRSP Home Buyers' Plan ($60K per person), and the First-Time Home Buyers' Tax Credit ($1,500). Check provincial programs for additional savings.