Buying a Home in Calgary

Buying a home in Calgary

Whether it’s a first condo in the Beltline, an infill in Marda Loop or a new build in Legacy, the mortgage problem changes completely depending on what you’re buying. As an independent broker I shop dozens of lenders to find the one that actually fits the property and your income — not whatever a single bank happens to sell.

How it works

• Get pre-approved properly — a real application tells you what you can afford and holds a rate for up to 120 days.
• Shop knowing your limits — including how the down payment scales between $500,000 and $1.5 million, what changes at $1.5 million, and what a suite or condo fee does to your numbers.
• Close smoothly — I coordinate with your realtor, lawyer and lender so nothing falls through the cracks.

The Calgary-specific parts

• Suites. A legal, permitted secondary suite can transform what you qualify for. An unpermitted one often counts for nothing. Confirm the permit before you write.
• Condos. Lenders underwrite the building as hard as they underwrite you — reserve fund, estoppel, rental ratio, unit size. Request documents the day your offer is accepted.
• New builds. A possession date a year out does not fit a 120-day rate hold. Plan it at contract stage.
• Insurance. Hail-damaged roofs, poly-B plumbing and old wiring can all make a property uninsurable — and an uninsurable property cannot be funded.

Why use a broker instead of your bank?

Your bank has one set of policies. If they happen to fit you, fine. If they don’t, the answer is simply no — with nothing to tell you another lender would have said yes. It costs you nothing: the lender pays the broker on most residential deals.