Second property and investment files in Alberta.

Owner-occupied minimum down payment is 5% on first $500K; second properties require 20% minimum for true investment properties (rentals).

Alberta adds its own layer. Calgary and Edmonton run on different employment-cycle assumptions. Oil-sector commission and bonus income is heavily averaged. That matters here because underwriters are already scrutinizing the income side of a second property and investment files file — a property or program complication local to Alberta can push a marginal file over the edge.

No land transfer tax. Land Titles registration fee plus mortgage registration fee — a few hundred dollars typical.

Programs to check eligibility for in Alberta:

• FHSA
• Home Buyers' Plan (RRSP withdrawal)

• Standard income, credit, and down-payment proof
• Existing property mortgage statement and tax
• Rental projections or signed lease for the new property

Alberta nuance: Bonus and commission income require 2 years of T4s; many Alberta files are killed by overstating recent strong years.

• Variable income from energy-sector roles is averaged over 24 months minimum.
• Acreage and rural files trigger MLI restrictions over a hectare.
• Condo board documents are commonly thin — request the full reserve study.

Underwriter view of this scenario: Two non-owner-occupied properties trigger lender exposure rules. Some lenders cap the number of rentals on the same borrower.

• Document existing property cash flow precisely
• Choose lenders with explicit investor-friendly rental income policy
• Maintain at least 6 months of carrying-cost reserves

• No reserves for vacancy or repairs.
• Existing rental running negative cash flow.