Frequently asked questions

Mortgage Foundations

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.

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.

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.

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.

Getting a mortgage in Calgary usually takes about a month. Different steps, like paperwork and bank timelines, affect how long it takes.

Yes! Governments have programs to help first-time buyers in Calgary. Your broker can explain these programs and how they benefit you.

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.

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.

Mortgage rates in Calgary can change often based on the market. Your broker keeps an eye on this and tells you the latest rates.

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.

Remember, it’s always a good idea to have a chat with your local mortgage broker. They’re there to help you, and no question is too basic.