Financing

How much is the minimum down payment in Alberta?

Quick Answer

Short answer: In Alberta, the minimum down payment is 5% of the purchase price regardless of home value - no tiered system applies here.

Detailed Explanation

In Alberta, the minimum down payment for a home is 5% of the purchase price, regardless of whether the home is above or below $500,000. The federal tiered rules used in some other provinces do not apply here. This means buyers in Alberta benefit from a more straightforward and accessible path to home ownership.

For example, if you're purchasing a home for $450,000, the minimum down payment is simply $22,500. Even if the home price is $700,000, the minimum required is 5% of $700,000 — or $35,000 — not the blended tiered amount used in other regions.

Important notes:

  • If you put less than 20% down, mortgage default insurance is required (typically through CMHC or Sagen).
  • Gifted down payments from immediate family members are allowed with documentation.
  • First-time buyers may qualify for additional incentives, like the First Home Savings Account (FHSA).

This applies to owner-occupied residential properties. Rental and investment properties require a higher minimum down payment.

Disclaimer: This information is provided for general educational purposes only and does not constitute legal or mortgage advice. Always consult with a licensed mortgage broker or financial advisor for personalized recommendations.

Sources:
Government of Canada – Mortgage Down Payments
CMHC – Mortgage Insurance

Disclaimer: This page is for general information only and does not constitute legal, financial, or real estate advice. Always verify details with a licensed Alberta REALTOR®, mortgage professional, or lawyer before making decisions. Buy in Edmonton assumes no liability for actions taken based on this content.

Tim Grover, RE/MAX Excellence • 780-288-5144 • 5607 199 Street NW, Edmonton, AB

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Last updated: 2025-06-30

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Tim Grover, RE/MAX Excellence • 780-288-5144 • 5607 199 Street NW, Edmonton, AB