Mortgage Interest Rates - Alberta1,  2

  • With a fixed rate mortgage, the interest rate and the regular payments you make will stay constant for the term of your mortgage, offering stability.
  • With a variable rate mortgage, the interest rate will change when the TD Mortgage Prime Rate changes. This means that the portion of your payment that goes toward the principal may increase or decrease over the term of your mortgage.8
What is an APR? Its an annual percentage rate that reflects, in addition to interest, some or all of the fees that apply to your mortgage loan. To understand how we calculated the APR, please see below.

TD Special Mortgage Rates

Special Rate3
APR 4,5
3 Year Fixed Closed 7
5 Year Fixed Closed 7
5 Year Fixed Closed High-Ratio 9
5 Year Variable Closed 6

TD Mortgage Prime Rate

Submit a pre-approval or mortgage application

Get an immediate response to your pre-approval application or submit a mortgage application online.

The Alberta housing market: Things to know

Alberta’s housing market is currently the third highest in Canada. Here’s what you should know.10
  • Average homes in Alberta typically cost around $400 000, which is lower than the national average.11
  • The federal government has taken steps to make homeownership more affordable for certain first-time buyers whether in Alberta or elsewhere by introducing the First-Time Home Buyer Incentive.12
  • Before you start searching for your home, it’s important to consider how much debt you can take on. Enter your details to find out how much you might be able to borrow.

Mortgage rules

Play Amortization period vs term video

Canada’s mortgage qualification rules were updated on June 1, 2021 and we want to help you understand how you may be affected. Our TD Mobile Mortgage Specialists are ready to help guide you through these changes.

Mortgage Basics

If you live in Alberta or elsewhere let's help you understand the language so you’re able to make the right decisions.
  • Down payment
    A down payment is the amount of money you put towards the price of a home at the time of purchase.
  • Amortization period vs term
    The amortization period and a mortgage term have different meanings.
    The amortization period is the total number of years it takes to pay off your mortgage assuming the interest rate and payment amount remains the same. If your down payment is less than 20%, your maximum allowable amortization period is 25 years. If your down payment is greater than 20%, you could have an amortization period of up to 30 years.
    A mortgage term is the length of time you’re committed to a mortgage rate, lender, and associated conditions. TD has mortgage terms ranging from 6 months to 10 years, with 5 years being the most common option.
  • Payment frequencies
    Enjoy the flexibility of choosing how often to pay. You can determine your payment schedule, such as Weekly, Bi-Weekly, Monthly or several other options.
    Did you know? Paying every other week might seem the same as paying twice a month but it's not. You’ll be making two extra principal and interest payments a year potentially saving thousands of dollars in interest over the term.

How can I get a mortgage in Alberta (or in Canada)?

  • You could start by filling out a mortgage pre-approval to find out how much you may be able to borrow.
  • Getting a mortgage pre-approval is a great way to find out how much you may be able to borrow. It’s a tool that can help guide you.
  • Once you find the house you would like to purchase, you would apply for the mortgage.
  • You may need to pass a stress test. Learn about mortgage rules in Canada.
  • Once a lender approves the loan, you’ll review the terms and conditions of your mortgage.

Additional resources

TD Mortgage Affordability Calculator

Determine a potential price range and see how much mortgage you may be comfortable with.

TD Mortgage Payment Calculator

Use this calculator to compare your options and find the mortgage payment amount that best suits your needs.

Discover mortgages across Canada

Mortgage Pre-approval

Get an immediate response to your online application.

Ready Advice

The Annual Percentage Rate reflects, in addition to interest, some or all of the fees that apply to your mortgage loan.

Ready Advice

A Down Payment is the amount of money you have towards purchasing your home. Many homebuyers make down payments of 5% to 20% of the total value of the home. The purchase price minus the down payment is the amount that generally requires financing from a bank or other financial institution.
Back to top