How much is the mortgage registration fee in Alberta?
This answer covers the law of Alberta.
The mortgage registration fee in Alberta is a Land Titles levy of $50 plus $5 for each $5,000, or part of $5,000, of the principal amount secured by the mortgage. The mortgagor, which means the person borrowing the money, pays it when the mortgage is registered.
Because any part of a $5,000 block is charged as a full block, a principal that is even slightly over a $5,000 mark is charged for the whole next block. Your lawyer can work out the exact levy on your mortgage amount. The levy is calculated on the principal secured, not the purchase price, and a buyer paying cash with no mortgage does not pay it.
The rate is now $5 per $5,000 for mortgages, up from $1.50 per $5,000 for submissions before October 20, 2024, so older figures you see online may be outdated. Some situations change the calculation. For example, a supplemental or substitute mortgage from the same lender as an existing one is charged only on the additional amount. Other registration fees may also apply, so ask your lawyer to confirm the total for your purchase.
Key takeaways
- The levy is $50 plus $5 for each $5,000, or part of $5,000, of the principal secured by the mortgage.
- It is based on the mortgage principal, not the purchase price, and a cash buyer with no mortgage does not pay it.
- The rate rose to $5 per $5,000 for submissions on or after October 20, 2024, so older figures are outdated.
- A supplemental or substitute mortgage from the same lender may be charged only on the additional amount, so confirm your total with your lawyer.