How much you can afford depends on a number of factors including your income, expenses and debts. To get a better idea, our Mortgage Affordability Calculator gives an estimate of the maximum home price you may qualify for, so you can start your home buying journey with confidence.

To get even more certainty, our online mortgage pre-approval provides the most accurate picture of what you can qualify for.

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.

ATB will make the process to switch your mortgage as simple as possible. You can connect with our team of experts virtually or in person. We will require a few documents to get started, such as a property tax assessment, current mortgage statement, and proof of income. Once we have these documents, leave the rest up to us! We will ensure your mortgage transfer goes smoothly every step of the way.

Pre-qualification is the initial step before pre-approval. It gives you an estimate of how much you may be able to borrow, and how much you’ll need for your down payment and closing costs. During pre-qualification, your credit report isn’t reviewed and your financial details aren’t verified. Instead, a mortgage provider makes a rough estimate based on your financial snapshot—income, assets, and debts. Pre-qualification will also lock in a specific interest rate for 120 days.

With a pre-approval, your credit report is reviewed and your financial details are verified to see how large of a mortgage you would qualify for and locks in a specific interest rate, provided your mortgage is fully advanced within 120 days. Negotiating your rate begins during pre-approval, so choosing your lender at this stage is important.

When’s the best time to get pre-approved? Luckily, it’s an easy process. Fill out a form, verify your income, and you’ll typically get pre-approval within 24 hours.

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.