Looking for the best Calgary mortgage broker? Contact a local mortgage professional; they are your best source for local mortgage options. Find one near you to answer your questions and provide you with an overview of the rates and options offered by lenders and banks across Canada.
Calgary, Alberta is the perfect place to call home. 1,239,220 people currently live in single family homes, condos and townhouses in this lively Canadian city, and an increasing number are relying on local mortgage brokers to discover the best rates and lenders for their home-buying needs. Real estate is spread across 825.56 square kilometers, alongside many popular arts, culture and recreation facilities.
Calgary Mortgage Agents and Alberta Brokers
The Alberta Mortgage Brokers Association establishes the ethical and professional standards for mortgage professionals in the province and administers licenses in the region. It's a professional association that provides brokers across the province with education, information, advocacy and networking. More importantly, the AMBA established the code of professional conduct to ensure brokers are behaving ethically and sustainably. Provincial organizations like this are important because they ensure that Albertan mortgage brokers have the relevant education and experience needed to provide Albertans with professional, unbiased guidance.
Four million Canadians call Alberta home, with most of the population concentrated in Calgary and Edmonton. The remainder of Albertans are spread across cities and towns that range from 10,000 to 100,000 people, making it one of the least population dense provinces in Canada. It's economy has historically been bolstered by gas products, natural gas, synthetic crude and conventional crude oil. At the height of the oil boom, its residents boasted one of the highest per capita GDPs in the world! Alberta's scenic landscapes also make it a popular tourist destination for domestic and foreign travelers alike.
Beyond Mortgage Brokers: More Real Estate Professionals
Buying a home in Calgary, Alberta takes a whole team of trusted professionals. That's where Calgary mortgage brokers and agents can be extra helpful — they can introduce home buyers to their trusted network of real estate professionals. For example, in the home buying process you may need access to:
Home Inspectors: These real estate professionals can help you evaluate the condition of the home you're buying, and to estimate the cost of the repairs and maintenance that are in your near future if you buy the property.
Renovation Companies: If it turns out the property needs repairs or renovations, your mortgage broker can also introduce you to trusted contractors or renovation companies who can help you turn the property into your dream home.
Real Estate Lawyers: Buying a home can be a complex process, so it's important that you have a trusted lawyer who can protect your rights as a buyer, and help you navigate all the documentation along the way.
Realtors: If you're just getting started in the home buying process, you'll need a local realtor to help you navigate all your options and find the perfect home and neighborhood for your family's needs and budget.
Mortgage brokers match borrowers to lenders that meet their financial situation. They are financial professionals who work with banks, monoline lenders, investors and more.
A mortgage broker can help you access rates and lenders that aren't readily advertised to the market. They can shop the market for you without hurting your credit score with multiple checks.
They get paid through commissions by the lender. Commissions range from 0.5% to 2% of your full mortgage amount.
Mortgage brokers don't typically charge a fee as they are paid by the lender. However they may charge an additional fee if your financial circumstances are more complex than the typical borrower.
It's best to meet with a mortgage broker before you start shopping for a home. A broker can set a realistic expectation of what you can afford and give you a pre approval. Realtors are more likely to work with you if you have a pre approval as it narrows down the budget which you can afford.