Here are a few other values:
$350,000 home with 5% down ($332,500 mortgage):
Land Title Registration: $495
Mortgage Registration: $474
$1,000,000 home with 20% down ($800,000 mortgage):
Land Title Registration: $1,275
Mortgage Registration: $1,035
Definitely a big change, and one to budget for in your "closing costs"!
Questions? I'm here to help!
Increases to fees are certainly never welcomed and the table below details the impact of these increases on the fees for a $500,000 home with a $400,000 mortgage:
Though the increase as of July 1st represents a hike of more than 400% for the real estate consumer, the cost of real estate transfers in Alberta remains lower than other provinces. This can be attributed to the continued avoidance of a Land Transfer Tax in Alberta at either the provincial or local levels.
Click here to view information on AREA’s positions on both Land Transfer Tax and enhancements to the Land Titles Registry.