Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for Lethbridge homebuyers.
Based on $$355,000 average home price at current Alberta rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $17,750 | $13,490 | $350,740 | $2,028/mo | $1,728/mo |
| 10% | $35,500 | $9,905 | $329,405 | $1,905/mo | $1,623/mo |
| 15% | $53,250 | $8,449 | $310,199 | $1,794/mo | $1,528/mo |
| 20%NO CMHC | $71,000 | $0 ✅ | $284,000 | $1,642/mo | $1,399/mo |
The average home price in Lethbridge is approximately $355,000 as of 2026, representing a +3.8% change year-over-year.
Current 5-year fixed rates in Lethbridge start around 4.89%, while variable rates start around 3.35%. Credit unions in Alberta often offer rates 0.25–0.50% below major banks.
To afford a $355,000 home in Lethbridge with 10% down at 4.89%, you would need approximately $56,831/year gross income to meet the GDS ratio of 39%.
For a $355,000 home, the minimum down payment is 5% ($17,750). With 5% down, CMHC insurance of $13,490 is added to your mortgage.
With the Bank of Canada holding at 2.25%, variable rates (3.35%) are currently lower than 5-year fixed (4.89%). Variable saves money if rates stay flat or drop, but fixed gives payment certainty. Consult a mortgage broker for your specific situation.