Alberta mortgage calculator
Alberta has no land transfer tax, which makes it one of the cheapest provinces to close in. Calculate payments, CMHC insurance and the stress test.
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Buying a home in Alberta
Instead of a land transfer tax, Alberta charges land titles registration fees for the transfer and for the mortgage, based on the property value and the mortgage amount. For a typical home they total a few hundred dollars, compared with thousands in Ontario or B.C.
There is no provincial sales tax on the CMHC premium either, so with a 5% down payment your cash to close is mostly the down payment plus legal fees.
At $500,000 the minimum down payment is $25,000, and a 4.49% rate over 25 years gives a monthly payment of about $2,730 including the 4% CMHC premium.
Frequently asked questions
Does Alberta have a land transfer tax?
No. Alberta charges only land titles registration fees, typically a few hundred dollars for a home purchase.
Is CMHC premium taxed in Alberta?
No. Only Ontario, Quebec and Saskatchewan charge provincial sales tax on mortgage insurance premiums.