For an average St. Albert home (about $560,000), the minimum down payment is roughly $31,000, or $112,000 to put 20% down and skip mortgage insurance.
The minimum down payment for an average St. Albert home ($560,000) is about $31,000 in 2026 — 5% on the first $500,000 and 10% on the portion above. Putting 20% down ($112,000) avoids CMHC insurance. Illustrative, not advice.
| Scenario | Down payment |
|---|---|
| Minimum (insured) | $31,000 (5.5%) |
| 10% down | $56,000 |
| 20% down (no insurance) | $112,000 |
Under 20%% down you also pay CMHC mortgage-default insurance (about 4.00%% of the mortgage at 5%% down). Learn more on the CMHC insurance calculator and down payment guide.
An affluent Edmonton-adjacent city with strong schools and demand. Remember the down payment is only part of the upfront cost — budget for land transfer tax and legal fees too. See land transfer tax by province.
About $31,000 on an average St. Albert home — 5% on the first $500k, 10% above (illustrative).
No — you can buy with as little as 5%%, but under 20%% you pay CMHC mortgage-default insurance.