What does a Calgary mortgage broker do?
A mortgage broker in Calgary helps you find the right mortgage for your home purchase. They act like a middle person between you and banks, making the process smoother.
How do I choose a good mortgage broker in Calgary?
Look for a broker in Calgary who knows the local housing scene, has good reviews, and a history of helping people. Check what others say about them.
What kinds of mortgages are there in Calgary?
Mortgages come in different types. There are fixed ones (the same rate always) and variable ones (rates can change). First-time buyers have special options too.
How much money do I need to start in Calgary?
The money you need upfront (down payment) depends on your mortgage type and finances. Your broker guides you on how much you’ll need and where to get it.
How long does it take to get approved in Calgary?
Getting a mortgage in Calgary usually takes about a month. Different steps, like paperwork and bank timelines, affect how long it takes.
Are there any perks for first-time buyers in Calgary?
Yes! Governments have programs to help first-time buyers in Calgary. Your broker can explain these programs and how they benefit you.
What fees should I know about in Calgary?
Working with a mortgage broker in Calgary might involve fees like broker fees or appraisal fees. Your broker should be clear about all the costs, so you’re not surprised.
Do I need approval before looking for a house in Calgary?
While not a must, getting pre-approved in Calgary helps. It makes your house hunting smoother and gives you a clear idea of your budget.
How often do mortgage rates change in Calgary?
Mortgage rates in Calgary can change often based on the market. Your broker keeps an eye on this and tells you the latest rates.
Can I change lenders when my mortgage term is up in Calgary?
Absolutely! When your mortgage term ends in Calgary, you can switch to a different lender. Your broker helps you understand your options and get the best deal.