ATB Lowest Rate Mortgages

Understanding ATB Mortgage Products

ATB, short for Alberta Treasury Branch, offers an impressive range of mortgage products, many of which are not commonly available from other lenders. Here’s a closer look at what makes ATB unique:

  1. Mobile Home Mortgages
    ATB provides mortgage options for mobile homes, a category that many lenders tend to avoid. While they won’t offer a 30-year mortgage for a mobile home due to the limited lifespan of these units, their willingness to finance them sets ATB apart.

  2. Acreage Loans
    For those looking to purchase large parcels of land, ATB offers acreage loans for properties up to 160 acres—far beyond the 5-acre limit many lenders impose. The required down payment depends on factors such as the borrower’s financial profile and the property’s marketability. For larger parcels, expect to provide at least 20% or more as a down payment.

  3. Construction and Draw Mortgages
    ATB funds construction mortgages, also known as draw mortgages, making them a great option for those building their homes. They allow up to four draws for custom builds and three draws for “ready-to-move” (RTM) homes, in addition to an initial draw to pay off the land loan.

    • Ready-to-Move Homes: These are either completed or near completion and can also include partially built homes needing final touches.

    • Land Equity: The equity in your land can be applied toward the required 5-10% equity for the mortgage. However, be prepared to cover any additional costs, such as contractor overruns or unexpected expenses.

  4. Cash-Back Mortgages
    ATB offers cash-back mortgages with a maximum limit of $10,000. How you use these funds is entirely up to you—whether it’s for home renovations, paying off credit card debt, or other financial needs.

  5. Flex Down Mortgages
    For buyers looking to enter the market sooner, ATB’s flex down mortgages allow you to borrow part of your down payment. This option enables you to begin building equity immediately. However, keep in mind:

    • You’ll need to cover closing costs, inspection fees, legal fees, and other upfront expenses out of pocket.

    • Budgeting several thousand dollars for moving-related costs and last-minute repairs or purchases can help ensure a smooth transition into your new home.

  6. Expert Guidance for the Best Rates
    While ATB offers competitive and unique mortgage products, it’s essential to compare their offerings with those of other lenders to find the best solution for your financial needs. At Garth Financial Mortgages, we can shop across our network of lenders, including ATB, to secure the best rates and terms for your real estate purchase.

Ready to explore your mortgage options? Contact Garth Financial Mortgages today for expert advice tailored to your situation.