Alberta has the cheapest private money of the three provinces. Private first mortgages in Calgary and Edmonton run 6.99% to 10.99% interest-only in November 2026. Mortgage Directory's October 2026 median starting rate was 6.99%. Seconds run 8.99% to 13.99%. Add a 1-2% lender fee and a 1-2% broker fee. Lenders go to 75% loan-to-value in Calgary and Edmonton, 65-70% in Red Deer, Lethbridge and Grande Prairie, and 50-65% on acreages. Foreclosure in Alberta starts with a Statement of Claim. You get 20 days to respond, then usually 3-6 months to pay. The whole process takes 10-18 months. Brokers must be licensed by RECA.

Why Alberta private mortgages cost less, and what the top-ranking pages leave out

Homes cost less in Alberta. Loans are smaller. Calgary has many private lenders competing. So Alberta rates run about one point below BC and Ontario. The catch: almost no Alberta page shows lender fees. Some of the top "private mortgage Calgary" pages are copied templates run from Toronto. They show no RECA licence number. The fees are real. 1-2% on a first, 2-3% on a second, often with a $1,500-2,500 minimum. On a $60,000 second that is 4% before interest. Here they are, in the open.

Alberta private mortgage rates and fees by loan-to-value, November 2026

Loan-to-value	First mortgage	Second (combined)	Lender fee	Where
Up to 55%	6.99-7.99%	8.99-9.99%	1% (min $1,500)	All of Alberta
55-65%	7.49-8.99%	9.99-10.99%	1-1.5%	All of Alberta
65-70%	8.49-9.99%	10.99-11.99%	1.5-2%	Calgary, Edmonton, Red Deer, Lethbridge
70-75%	9.49-10.99%	11.99-12.99%	2%	Calgary and Edmonton
75-80% combined	Not offered	12.99-13.99%	2-3% (min $2,500)	Calgary and Edmonton, strong properties

Interest-only, 12-month terms. Broker fee 1-2%, in writing before commitment. Legal $1,500-2,500. Appraisal $450-650 in the cities, $700-1,000 on acreages. Example APR: $400,000 first at 7.99% with 1% + 1% fees and $2,100 legal and appraisal, 12 months: 10.52%. Calculator and full tables.

Which Alberta cities do we lend in?

All of Alberta. Calgary and Edmonton get the highest limits and the most lenders. Red Deer and Lethbridge come next. Acreages and rural property are lower. Local rates, limits and rules for each city:

CalgaryUp to 75% LTV · from 6.99%

EdmontonUp to 75% LTV · from 6.99%

Red DeerUp to 70% LTV · from 6.99%

LethbridgeUp to 70% LTV · from 6.99%

Who the private mortgage lenders in Alberta are

Alberta has fewer home-grown private lenders than BC or Ontario. Most Alberta files are placed with lenders licensed in Alberta but based elsewhere. These are the ones we use most:

Calvert Home Mortgage, Calgary. Funds in 1-2 days. Good for bridges and equity take-outs.
Alta West Capital, Calgary.
Caplink, Edmonton. Lending since 1997.
Private Capital Mortgage, Calgary.
BC and Ontario lenders licensed in Alberta: Antrim, Three Point, VWR Capital, Shelter Lending, Privan, AP Capital, One Stop, CMI, Atrium, Armada.
B-lenders: Bridgewater Bank (Calgary), Home Trust, Equitable, Haventree.

See the full verified list.

Acreages, rural property and the 35% rule

Alberta lenders treat anything outside a city differently. On an acreage within 30 minutes of Calgary or Edmonton expect a 65% cap. Beyond that, 50-60%. Raw land, 40-50% with few lenders at all. Well, septic and road-access reports are asked for up front. If your property is rural, bring 35% equity or more, and expect the appraisal to be the slow step. Rural appraisals in Alberta routinely take a week.

How foreclosure works in Alberta, and where a private mortgage fits

Step	What happens	Your window
Demand letter	After a missed payment the lender's lawyer demands the arrears or the full balance. Legal costs start.	Cheapest point to refinance or bring the mortgage current.
Statement of Claim (Court of King's Bench)	Foreclosure action filed and served.	20 days to file a Statement of Defence or Demand of Notice. Do not ignore it.
Redemption order	Court sets the amount owing and a redemption period, commonly 3-6 months (shorter with little equity).	The main window: pay out with a private first, sell, or refinance.
Order for sale / foreclosure order	Property listed by the court or title transferred to the lender.	Very late. Sometimes a sale on your own terms still beats a court listing.

You may hear that Alberta mortgages are "non-recourse". That means the lender cannot chase you for money still owed after it takes the home. It covers many bank mortgages on the home you live in. It does not cover insured mortgages, loans to companies or most private mortgages. Do not count on it. Count on the time to pay. What to send on day one.

What RECA requires of your broker

Licensing. RECA licenses every mortgage broker in Alberta. The brokerage name must be clear in every ad. Ours is on every page. Check the RECA register before you sign.
Who the broker works for. If a brokerage deals with a private lender, it acts for that lender too. RECA says it must tell you this, and what it is paid, in writing (Rules, s.65(c)).
Cost disclosure. You get the APR and total cost in writing before you agree. You then get two days to think. You can waive the two days in writing. We only ask if your deadline truly needs it.
Brokerage or personal funds in a deal trigger written conflict-of-interest disclosure. If a lender is related to us, you are told before you sign.

Common Alberta situations

Variable income in oil and gas, trades and trucking

Two good years, one bad year, a lender that averages them and says no. A private first at 65-70% LTV bridges to a B-lender on this year's bank statements. The plan.

Bridge: Calgary purchase, out-of-province sale

Closing in Calgary in 12 days, selling in Toronto or Vancouver in six weeks. A private bridge on both properties when the bank bridge needs a firm sale you do not have. Bridge loans.

Owner-builder completion

The house is 70% built and the draws stopped. Completion financing at 65-75% of as-complete value, released on inspection, paid out by a bank mortgage at occupancy. Tell us where the build is.

Separation and buyout

Keep the cheap first mortgage. Add a private second for the buyout only. Refinance once your support income has a track record. Second mortgages.

Alberta private mortgage questions

How much does a private lender charge in Alberta?

A first mortgage costs 6.99-10.99%. A second costs 8.99-13.99%. On top, expect a 1-3% lender fee, a 1-2% broker fee, $1,500-2,500 for legal and $450-1,000 for the appraisal. On a $400,000 first at 7.99% for 12 months, the APR is about 10.5%.

Is it better to go with a private lender or a bank in Alberta?

A bank, whenever you qualify. A B-lender next. Use a private lender only when a deadline, a lien, a proposal or an odd property rules out the other two. And only with a written plan to leave within 12-24 months.

How long does foreclosure take in Alberta?

Ten to eighteen months from the first missed payment to a completed sale or foreclosure order. The redemption period, usually 3-6 months after the court order, is the practical window to refinance or sell. Private lenders start the clock sooner than banks.

Can I refinance after a Statement of Claim has been filed?

Yes, and it is common. The private lender pays the foreclosing lender's balance, arrears and legal costs at closing and the action is discontinued. The total, including the new lender's fees, must fit under about 75% of appraised value.

Are private lenders licensed in Alberta?

The lenders themselves usually are not. That is why RECA requires you to go through a licensed brokerage that represents the lender and discloses the relationship. The brokerage and the person arranging your mortgage must be on the RECA register.

Does the non-recourse rule protect me from a private lender?

Usually not. The rule covers some bank mortgages on homes owned by people, not companies. Most private mortgages are set up so it does not apply. Assume you will owe any shortfall.

Sources. Real Estate Council of Alberta, Real Estate Act Rules and advertising bulletins · RECA cost-of-credit disclosure guidance · Alberta Cost of Credit Disclosure Regulation (AR 198/1999) · Court of King's Bench of Alberta foreclosure procedure (Getz Collins; Credit Reboot) · Mortgage Directory private rates, October 2026 · lender websites, checked 5 November 2026.

Real people, not a call centre

Talk it through with a licensed broker before you decide

Tell us what is going on in a few lines. We call you back the same day with what lenders will say, what it costs in dollars, and how you get back to a bank. If private is the wrong tool, we say so.