Big 6 Bank
Bank of Montreal
RBC Royal Bank
Compare the best rates
Answer a few quick questions and see the lowest rates you can qualify for.
Apply for your mortgage instantly and easily using our secure online application.
Connect with our mortgage advisors
Questions or comments? Book a call and one of our mortgage advisors will walk you through all the details
How much can I save by comparing Calgary mortgage rates?
Why compare Calgary mortgage rates with Ratehub.ca?
Are Calgary mortgage rates higher than other cities?
What’s the difference between variable and fixed rates?
Is it worth getting a mortgage pre-approval?
Which bank has the best mortgage rates in Calgary?
Should I use a mortgage broker in Calgary?
Jamie David, Director of Marketing & Mortgages
Calgary is one of Canada’s most important cities, with a mixed population of locals, newcomers, and those staying for a temporary period of work. Add to that an important tourism industry and Calgary keeps itself pretty busy. With any busy city, of course, comes a busy housing market.
If you’re looking to get a new mortgage in Calgary or it’s time to renew your current mortgage, comparing mortgages should be a high priority. Taking the time to get a mortgage with a great rate and features that suit your lifestyle is a good investment, and will pay off for years to come.
Best mortgage rates in Calgary +
Calgary at a glance
- Population: 1.37 million - largest city in Alberta, 3rd largest city in Canada
- Average Detached Home Price: $605,000 in Q1 of 2022, a 20% year-over-year increase
- Average Household Income: $99,388
- Percentage of Homeowners: 74%
Fun Facts About Calgary
- Calgary is the sunniest major city in Canada, with 333 days of sunshine per year.
- Calgary is famous for hosting the annual Calgary Stampede, which is the world's largest rodeo.
Comparing the best mortgage rates in Calgary
The comparison tables on this page list Calgary’s best mortgage rates sourced up to the minute from big banks, smaller lenders and Calgary mortgage brokers. Comparing rates from multiple lenders helps ensure you’re getting the best deal.
Of course, your personal rate will likely be different from the ones shown above. Factors including your credit score, your down payment, the home purchase price as well as what the property will be used for can all impact the rate you’ll receive.
To understand what you're actually eligible for, you'll need to get personalized quotes. We can help you get personalized quotes from multiple mortgage providers for free, in just a couple of minutes. You can get started with the tools at the top of this page.
Calgary closing costs
In Calgary, closing costs are fairly minimal, thanks to the lack of any land transfer tax. However, there are still some closing costs to consider, some of which cannot be added to your mortgage. Make sure you have enough saved to cover these in addition to your down payment.
- Land transfer and mortgage fees: While Alberta doesn't have a land transfer tax, there are land transfer and mortgage fees to pay with every property purchase. Luckily, these fees are still less than land transfer taxes in some other provinces. Learn more on our page about Alberta land transfer fees.
- Mortgage default insurance: If your down payment is less than 20% of the purchase price, you'll need to pay for mortgage default insurance, also called CMHC insurance. The premium will be added to your mortgage, so you won't need to pay it up-front. Regardless, you'll have to account for it on top of your new home purchase. Note that unlike some provinces, PST does not apply to mortgage default insurance premiums in Alberta.
- GST: GST only applies to newly built properties, or on construction work you have done yourself. If you are buying a brand new property, Calgary’s 5% GST will apply. This can generally be included in your mortgage.
- Legal fees: All property transactions require changes to the land title, which must be done by a real estate lawyer licensed to practice in Alberta.
- Adjustment costs: Some taxes and fees may have been pre-paid by the seller. You'll need to reimburse them for these costs when you settle the sale.
Learn more on our closing costs education centre page.
Calgary GST rebate
There is a national rebate available for the GST charged on some new buildings that you can use in Calgary. For new homes up to $350,000 in value, you can claim 36% of the GST. For homes between $350,000 and $450,000, there are partial rebates available.
Calgary first-time homebuyer programs
There are no first-time homebuyer programs specific to Calgary. This is because most provincial first-time homebuyer programs come in the form of land transfer tax rebates, but Calgary has no land transfer tax.
That said, new homebuyers in Calgary are still eligible for federal first-time homebuyers' programs.
Jamie David, Director of Marketing and Head of Mortgages
Jamie has 15+ years of business and marketing experience. She contributes her mortgage expertise to The Globe and Mail and authors Ratehub’s mortgage and homebuying guides. read more
Whether you need a mortgage, credit card, savings account, or insurance coverage, we help you find and compare the best financial products for your specific needs.
When it comes to mortgages, Ratehub.ca is more than just the place to research and compare the best rates. Get your mortgage at Ratehub.ca and have the best of both worlds – online rates and award-winning customer service.
Ratehub.ca has been named Canada's Mortgage Brokerage of the Year for four years straight (2018-2021). With over 12 years of mortgage experience, and $11 billion in mortgages funded, we deliver you the best mortgage experience in Canada, from online search to close.
How does Ratehub.ca make money?
Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.
How are CanWise Financial and Ratehub.ca connected?
We own and operate a mortgage brokerage, Ratehub.ca (formerly known as CanWise Financial), and are compensated for mortgages funded through our brokerage. Ratehub Inc. o/a Ratehub.ca & CanWise is a licensed mortgage brokerage and CMHC-approved lender. When comparing mortgage rates on Ratehub.ca, you’ll see rates from a number of lenders, including CanWise. All products are sorted according to the rates available to you and the selection criteria you’ve shared with us. Both Ratehub.ca and CanWise are owned and operated by Ratehub Inc.
We’re proud of our Ratehub.ca mortgage brokerage, which offers our users great rates, trusted advice and an award-winning team of mortgage experts. Read any of our 6,700 five-star Google and Facebook reviews and you’ll see what we mean.