Edmonton stands in for a $300,000 purchase in a province where the library returns no provincial land transfer tax. Alberta buyers still insure the mortgage when the down payment is under 20 percent, and they still qualify on a stress-test payment rather than the contract payment. The property-tax line uses the typical Alberta rate stored with the other provinces, not a City of Edmonton assessment. Five percent down is enough to meet the library minimum at this price, and it still triggers the 4 percent premium tier. Using the Desjardins 5-year fixed, insured contract rate of 4.14% as of 2026-09-03, a minimum down payment of $15,000, and a premium of $11,400, the insured mortgage is $296,400. The land-transfer result for a first-time buyer is $0 net. Alberta does not charge a provincial land transfer tax. Typical property tax in the library is about $2,250 a year. With no other debts, the binding ratio is GDS and the gross income is about $67,958.
Rate sensitivity
Only the middle row is the lender sheet. The other contract rates are illustrative, so you can see the 5.25% floor and a higher contract rate. They are not quotes.
| Rate | Qualifying | Stress payment | Income |
|---|---|---|---|
| Illustrative 3.00% contract (floor applies) (illustrative) | 5.25% | $1,766 | $63,194 (GDS) |
| Minimum down payment, sheet rate | 6.14% | $1,921 | $67,958 (GDS) |
| Illustrative contract plus 1 point (illustrative) | 7.14% | $2,102 | $73,514 (GDS) |
Other monthly debts
Same minimum down payment and sheet rate. Debts of $0, $400, and $650 are scenarios, not a claim about Edmonton households.
| Debts | GDS income | TDS income | Binds |
|---|---|---|---|
| No other monthly debt | $67,958 | $60,235 | GDS |
| $400 other monthly debt | $67,958 | $71,144 | TDS |
| $650 other monthly debt | $67,958 | $77,962 | TDS |
Down payment
| Down payment | Premium | Mortgage | Income |
|---|---|---|---|
| 5% down ($15,000) | $11,400 | $296,400 | $67,958 |
| 10% down ($30,000) | $8,370 | $278,370 | $64,362 |
| 20% down ($60,000) | $0 | $240,000 | $56,710 |
Alberta example — Edmonton
First-time buyer land transfer tax from the library: $0 before rebate, $0 rebate, $0 net. Alberta does not charge a provincial land transfer tax.
Property tax at the library's typical Alberta rate of 0.75% is about $2,250 a year ($188 a month). That is a provincial benchmark in the code, not a Edmonton tax bill.
Frequently asked questions
- What income do you need for a $300,000 home in Edmonton?
- At the minimum down payment of $15,000, with heat of $100 a month, no condo fee, and no other debts, the stress-test income is about $67,958 a year. The contract rate is Desjardins 4.14% as of 2026-09-03. The qualifying rate is 6.14 percent. GDS is the ratio that binds.
- What down payment and insurance premium apply to $300,000 here?
- The library minimum down payment is $15,000. The CMHC premium at that down payment is $11,400 (4.00 percent of the amount borrowed when the down payment is under 20 percent). The insured balance is $296,400.
- What transfer tax and property tax does the library return for Edmonton?
- For a first-time buyer, net land transfer tax is $0. Alberta does not charge a provincial land transfer tax. The typical provincial property-tax rate in the library is about $2,250 a year on this price. This example does not add Toronto municipal land transfer tax.
- How does a $400 monthly debt change the $300,000 Edmonton income?
- The same housing costs plus $400 of other monthly debt need about $71,144 of gross income. TDS binds in that row. TDS uses 44 percent and includes the debts. GDS stays at 39 percent and does not include them.