Take the next step: Talk with a mortgage expert at ATB
For help moving your mortgage to ATB, there’s no substitute for personal guidance from an expert. Our team of experts can help.
We’ll guarantee your rate for 120 days with a rate hold, giving you time to think through your options. If at the time of funding the rate for the term you selected is lower, you would be eligible to receive the lower rate.
We have an entire team of experts ready to help. Provide us with a few simple details and we’ll handle the rest—land titles, appraisal, and current lenders.
If your mortgage balance and amortization stay the same on your new mortgage, or if your mortgage is insured, you don’t need to do a mortgage stress test*.
There are no additional premiums as you keep the original mortgage default insurance with a straight transfer in. You’ll also qualify for high ratio mortgage rates.
A great mortgage starts with finding the mortgage features that meet your needs. Compare our mortgages, and use our payment calculator to estimate your payments.
Compare mortgagesA valuation can take as little as a few minutes*. Our team can also help you decide if you should refinance or access equity in your home through a HELOC.
A HELOC is the ultimate financial back up plan, giving you low cost access to funds for various purposes such as a home renovation, to consolidate debt, to invest in education or for unplanned expenses. By adding it to your mortgage now, perhaps even before you need access to it, you eliminate the need for future applications.
At ATB, we have two different HELOC loans:
To learn which HELOC is right for you, read more about borrowing from a HELOC.
An ATB mortgage expert can help you get started. You’ll need documents such as a property tax assessment, current mortgage statement, and proof of income.
Talk to an expertOur process is designed to minimize delays & maximize speed—most approvals happen in a few days. We will handle all of the details, including connecting with your current lender.
Term | Residential Mortgage | Rate First Residential Mortgage |
---|---|---|
5 Year High Ratio | 4.59% | 4.54% |
5 Year Conventional | 4.94% | 4.89% |
5 Year Variable High Ratio | 4.30% | N/A |
5 Year Variable | 4.70% | 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 mandatory for conventional mortgages.
When buying a home in Canada, you’re required to have a minimum down payment of the following:
5% for homes $500,000 or less
5% on the first $500,000 and 10% for any amount above that for homes $500,000 or more
20% for homes $1,000,000 or more
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.
Connect with a mortgage expert on switching your mortgage with ATB.
With an ATB mortgage pre-approval, you’ll lock in your rate for 120 days. And if the interest rate is lower at the time of funding, you’re still guaranteed to receive the lower rate.
When transferring an existing mortgage, ATB covers up to $1,000* in program fees, including processing and registration fees, based on a current home evaluation. This includes properties located within Alberta’s national parks.
Additionally, we’ll cover appraisal fees up to $500* from an ATB-approved appraiser, even for rural and remote areas. However, any additional appraisals won’t be covered under this offer.
ATB will directly handle payments to First Canada Title and our accredited appraisers for the fees that are included in the switch offer.
It’s easier than you may think. Just get in touch with us to start the process. Our team of experts can connect virtually or in person, ensuring your mortgage transfer goes smoothly every step of the way.
30 year amortization is only available for a first time home buyer who is purchasing a newly constructed home. For more information about criteria, visit the Government of Canada website or connect with a mortgage specialist.
A high ratio mortgage includes mortgage default insurance. In Canada, it’s mandatory to purchase mortgage default insurance if you’re putting down less than 20% toward the purchase of your home (between 5% and 19.99%). The high ratio rate is only available on insured mortgages for residential property valued at under $1,500,000, for clients who have put less than 20% down, and are eligible for (and purchase) mortgage default insurance, as well as meet other conditions.
*Terms and conditions apply:
ATB can offer an automated valuation for conventional mortgages on property values up to $900,000 for a primary residence when eligible. Certain conditions apply.
OSFI (Office of the Superintendent of Financial Institutions) has eliminated the required stress test to switch your uninsured (conventional) mortgage to another lender at renewal—if your mortgage balance and amortization stay intact for the transfer (no increases). Insured switches already have a pass.
Switch fees will be covered when you move your mortgage to ATB as a straight transfer in. This offer is available for mortgage loans that are transferred to ATB from another financial institution. No additional funds or change to amortization is allowed. Available equity may be accessed under a second mortgage product. Mortgage loans must be funded within 120 days of application date. Switch fees will be covered up to $1000.00. Allowable fees include: First Canadian Title registration fees and up to $500 in appraisal fees charged by an ATB accredited appraiser. ATB will not cover fees associated with changing names on title, private registration discharges, remote or virtual signing, interest penalties, prepayment charges or administration fees. Mortgage value of $200K or more is required. This offer is limited to personal clients and residential switch mortgages on owner-occupied residential dwellings only. Non-personal clients, commercial/investment properties, and properties not owner-occupied are excluded. Offer is only available through select ATB channels.