This summer, it’s going to cost more to get a mortgage in Alberta starting July 1, 2015.
People considering buying a house this summer should be aware of some changes to the fees associated with being a land owner, and with getting a mortgage. Last week, the Province of Alberta released its new budget containing pretty significant increases in fees for people like you who might be getting a Calgary mortgage or buying property.
Ex: $500,000 purchase and a mortgage of $400,000 currently costs approx. $290 for land titles and mortgage registration.
Effective July 1, 2015 that same registration will cost approx. $1,230.
A difference of $940.
Read More on this and other AB Budget fee hikes!