Switch to ATB offer
Unlock up to $7,500 in cash & value when you switch your mortgage to ATB.
Want more with your mortgage? We have two offers for you to get a little extra, whether that’s cash back or our lowest available rate.
Talk to an expertUnlock up to $7,500 in cash & value when you switch your mortgage to ATB.
Unlock up to $6,000 in cash on select mortgages or our lowest rate on a 5-year ATB Rate First mortgage.
Term | Residential Mortgage | Rate First Residential Mortgage |
---|---|---|
5 Year High Ratio | 4.29% | 4.19% |
5 Year Conventional | 4.74% | 4.64% |
5 Year Variable High Ratio | 4.05% | N/A |
5 Year Variable | 4.45% | N/A |
The difference between a high ratio and conventional mortgage lies in the down payment amount and the requirement for mortgage default insurance.
A high ratio mortgage requires a down payment of less than 20% of the home's purchase price (between 5% and 19.99%). In Canada, it's mandatory to purchase mortgage default insurance for high ratio mortgages.
A conventional mortgage requires a down payment of 20% or more of the home's purchase price. Mortgage default insurance is not typical for conventional mortgages.
An ATB Residential Mortgage provides flexible terms from 6 months to 7 years, with both fixed and variable rate options. You can make lump sum payments and increase payments of up to 20% of the original mortgage amount per year. With this mortgage, you have the ability to skip payments and refinance.
An ATB Rate First Residential Mortgage is our lowest rate mortgage, for a 5-year fixed term. You can make lump sum payments and increase payments of up to 10% of the original mortgage amount per year. With this mortgage, skipped payments and refinancings are not offered.
Learn everything you need to know about buying your first home in Alberta.
Whether your next home is a new forever home, an investment property, or your dream vacation destination, an ATB mortgage can help.
Find out how and why to switch your mortgage to ATB. Our dedicated team of experts will make the process simple and easy.
Grow your space and expand your possibilities with in-law suites, residential shops and more with help from ATB.
Finding the right mortgage starts with understanding your options.
A home equity line of credit (HELOC) can provide the funds you need to reach a goal or manage an emergency.