Best mortgage lenders in Calgary and Edmonton — fixed vs variable rates, ATB, big banks, and brokers compared
Alberta's mortgage market in 2025 reflects the Bank of Canada's gradual rate cuts following the 2022–2023 rate cycle. Fixed 5-year mortgage rates have come down from their 2023 peaks, and variable rates are declining as the BoC cuts the overnight rate. For Alberta home buyers in Calgary and Edmonton, shopping your mortgage rate can save tens of thousands of dollars over the life of your loan.
Rates are approximate and change frequently. Get personalized quotes from at least two lenders. Last updated March 2025.
| Lender | 5-Year Fixed (approx) | Variable (approx) | Best For |
|---|---|---|---|
| Mortgage Broker (best) | ~4.49% | ~5.45% | Best rates overall |
| ATB Financial | ~4.69% | ~5.60% | Alberta locals, agricultural |
| Servus Credit Union | ~4.59% | ~5.55% | Community banking |
| TD Bank | ~4.79% | ~5.70% | Full-service + branch |
| RBC | ~4.84% | ~5.75% | Investment integration |
| Scotiabank | ~4.89% | ~5.80% | Scene+ rewards |
Rates are approximate and change frequently. Always get a personalized quote. Negotiating can reduce rates significantly below posted rates.
Alberta already saves you thousands with no land transfer tax. Save even more with KOHO's zero-fee banking. Cash back on groceries and gas, built-in budgeting, and a free prepaid Visa. Use code 45ET55JSYA for a bonus.
Get KOHO Free — Use Code 45ET55JSYAUse a mortgage broker. Brokers have access to 20–40+ lenders, including monoline lenders like First National and MCAP that only deal through brokers. Brokers are free to use — lenders pay them. In many cases brokers access rates 0.20%–0.50% better than posted big bank rates.
Get competing quotes. Always contact at least two lenders directly (one big bank + one broker minimum). Banks often match competitive rates if you have the offer in writing.
Improve your credit score before applying. A score of 740+ typically gets you better rates than 680. Pay down revolving credit and avoid new applications for 6 months before applying.
Consider the total cost, not just the rate. A mortgage with a lower rate but poor prepayment privileges or high penalties for breaking early can cost more than a slightly higher rate with flexible terms.
Look at 3-year fixed in 2025. With rates expected to continue declining, many Alberta buyers are choosing shorter 2–3 year fixed terms to benefit from lower rates when they renew.
Alberta's economy is tied to the energy sector, which creates income volatility for many workers. Lenders experienced with Alberta — particularly ATB Financial and Servus — are better equipped to handle irregular income patterns common in oil and gas, construction, and trades. If your income fluctuates seasonally or project-to-project, ATB and Servus deserve serious consideration for your mortgage.
Alberta also has no provincial land transfer tax, which means your closing costs are lower — leaving more cash available for a larger down payment if you choose to put more than the minimum down.
Last updated: March 2025. Mortgage rates change daily. This guide is for informational purposes — get personalized quotes from lenders for your specific situation.