Mortgages · Calgary
Mortgages in Calgary: Purchase, Renewal and Refinance
A mortgage broker licensed in Alberta compares several lenders, including credit unions and alternative lenders, and on standard mortgages is usually paid by the lender, not you. Calgary Lending matches you with one broker suited to your purchase, renewal or refinance, at no cost.
Most Calgary borrowers talk to one bank and take what it offers. A licensed mortgage broker can put the same file in front of several lenders, including credit unions and alternative lenders, and that is where the difference usually is. We match you with one.
Who this suits
- First-time buyers looking at new-build townhouses and duplexes on the city's edges, such as Seton, Mahogany, Legacy, Cornerstone or Savanna, or a condo in the Beltline or East Village.
- People renewing who got a renewal letter from their current lender and want to know if they can do better before signing it.
- Owners refinancing to pull equity for a renovation, a basement suite, or to pay off higher-interest debt.
- Self-employed, commission and contract earners, including a lot of energy-sector and trades income, whose paperwork does not fit a bank's simplest box.
- Newer arrivals to Alberta who have moved from another province or country and are buying their first place here.
What a broker does that a bank branch doesn't
A bank's mortgage specialist can only offer that bank's products. A broker licensed in Alberta can compare several lenders on rate, prepayment terms, penalties and how they treat your type of income, then send the application to the one that fits. For most standard purchases and renewals the broker is paid by the lender, not by you. Where a fee does apply, typically for private or alternative lending, it has to be disclosed to you in writing before you commit.
Mortgage brokers in Alberta are licensed by the Real Estate Council of Alberta (RECA). You can check any broker's licence on RECA's public lookup before you share documents.
Things specific to buying in Alberta
Alberta has no land transfer tax. Instead you pay Land Titles registration fees on the transfer and on the mortgage, which are much smaller, but still worth budgeting. Most mortgages from federally regulated lenders also have to pass the federal stress test, which means qualifying at a rate higher than the one you actually pay. If you put down less than 20%, the mortgage needs default insurance; CMHC explains how that works.
Frequently asked questions
Does it cost anything to use a mortgage broker in Calgary?
For most standard purchases, renewals and refinances, no. The lender pays the broker. Fees can apply for private or alternative lending, and they must be disclosed in writing before you agree to anything.
Will you check my credit?
No. Calgary Lending never pulls credit. If you go ahead with the broker we match you with, they will ask for your consent before a credit check.
Can I switch lenders at renewal?
Usually, yes. Renewal is the cheapest time to move because there is no prepayment penalty at the end of a term. Ask the broker to compare your renewal offer against other lenders before you sign it.
I'm self-employed. Can I still get a mortgage?
Often, yes. Lenders differ a lot in how they read business income, and a broker who knows which lenders handle self-employed files well is the main reason to use one.
Calgary Lending is a free referral service. We are not a lender or mortgage brokerage, we do not make credit decisions or quote rates, and approval is never guaranteed. We may receive a referral fee from the lender or broker we connect you with; it is paid by them, not you. Information on this page is general and is not financial advice.