The real answer — with the 2026 stress test (contract rate + 2% or 5.25%, whichever is higher), 39%/44% GDS/TDS limits, CMHC premium tiers, and the 30-year first-time buyer amortization. The same rules Alberta lenders use.
✓ Updated July 17, 2026 · OSFI rules confirmed January 2026Different lenders treat bonuses, overtime and self-employed income very differently. A licensed Alberta broker can tell you your real ceiling — free.
Canadian lenders don't qualify you at your actual mortgage rate. Under OSFI's B-20 guideline — reconfirmed unchanged in January 2026 — you must qualify at the greater of your contract rate + 2% or 5.25%. With typical 5-year fixed rates around 4.0–4.3% in July 2026, most buyers are stress-tested at roughly 6.0–6.3%. Two ratios then cap your budget:
The May 2026 average MLS home price in Alberta remains roughly half of Toronto/Vancouver levels, and Alberta has no provincial land transfer tax — closing costs on a $550,000 Alberta home are commonly $1,000–$2,600 in registry/legal fees versus $7,000+ in land transfer tax alone in Ontario. See our Alberta closing costs calculator.
As of July 2026, with $50,000 down, no debts and a 4.19% rate (stress-tested at 6.19%): roughly a $467,000 purchase on a 25-year amortization, or about $497,000 with the 30-year first-time buyer option. Debts reduce this fast — $500/month in car payments cuts roughly $75,000 of buying power.
The greater of your contract rate + 2% or 5.25%. OSFI confirmed the rule unchanged in January 2026. Renewal switches without new money are exempt since November 2024.
5% of the first $500,000 + 10% of anything between $500,000 and $1.5M; 20% at $1.5M+. On a $450,000 Alberta home that's $22,500. First-timers can pull from an FHSA ($40k lifetime) and RRSP Home Buyers' Plan ($60k) tax-free.
Yes — lenders add 50% of condo fees to your housing costs in GDS/TDS. $400/month in fees reduces your maximum budget by roughly $30,000 at 2026 stress rates.
Often, yes. Lenders differ on how they count bonus, overtime, contract and self-employed income, and some credit unions (provincially regulated) can qualify at the contract rate rather than the stress test. That's a conversation worth having before you house-hunt.
Get matched free with a licensed Alberta mortgage broker. 60 seconds, no credit check to get matched, no obligation.
Start my free match →