Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for St. Albert homebuyers.
Based on $$510,000 average home price at current Alberta rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $25,500 | $19,380 | $503,880 | $2,913/mo | $2,482/mo |
| 10% | $51,000 | $14,229 | $473,229 | $2,736/mo | $2,331/mo |
| 15% | $76,500 | $12,138 | $445,638 | $2,577/mo | $2,195/mo |
| 20%NO CMHC | $102,000 | $0 ✅ | $408,000 | $2,359/mo | $2,010/mo |
The average home price in St. Albert is approximately $510,000 as of 2026, representing a +5.5% change year-over-year.
Current 5-year fixed rates in St. Albert 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 $510,000 home in St. Albert with 10% down at 4.89%, you would need approximately $81,662/year gross income to meet the GDS ratio of 39%.
For a $510,000 home, the minimum down payment is 5% on first $500K + 10% on remainder. With 5% down, CMHC insurance of $19,380 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.