How much deposit do I need to buy a home in Alberta?

In Canada, the minimum down payment is 5% for homes priced up to $500,000. For homes between $500,000 and $999,999, you need 5% on the first $500,000 and 10% on the remainder. For $1M+ homes, 20% is required.

Does it cost anything to use a mortgage broker?

In most cases, no. Brokers are paid by the lender after your mortgage settles — not by you.

What's the difference between pre-approval and pre-qualification?

Pre-qualification is an informal estimate. Pre-approval is a rigorous lender verification of your income, credit, and employment — with a committed rate for 90–120 days.

All Services First-Time Buyers

Your First Home. Done Right the First Time.

Buying your first home is exciting. It's also a lot. I'll walk you through every step so you know exactly what you're getting into — before you sign anything.

Apply Now Ask a Question

Young couple holding house keys outside their first Calgary home with Rocky Mountains in the background

What first-time buyers need to know

How much can you borrow?

Stress test explained
Gross Debt Service (GDS) ratio
Total Debt Service (TDS) ratio
Pre-approval vs. pre-qualification
Impact of your credit score

Government programs

First Home Savings Account (FHSA) — up to $40,000 tax-free
RRSP Home Buyers' Plan — up to $35,000 per applicant
First-Time Home Buyers' Tax Credit — up to $1,500 back
GST/HST New Housing Rebate (new construction)
Land transfer tax rebates (where applicable)

Costs to budget for

Down payment requirements (5–20%)
CMHC mortgage insurance
Legal fees and disbursements
Home inspection costs
Property tax adjustments at settlement

The Process

How I help first-time buyers

Free assessment

We talk through your goals, finances, and timeline. No obligation — just an honest conversation about what's possible.

Pre-approval

I source pre-approval from the right lender so you can shop with confidence and move fast when you find the right property.

Lender selection

When you're ready to make an offer, I compare options across all my lender relationships and present the best for your situation.

Application & settlement

I handle the mortgage application, coordinate with your lawyer, and keep everything on track to your settlement date.

Common questions from first-time buyers

How long does the mortgage approval process take?

A pre-approval typically takes 24–48 hours once I have your documents. Full approval after a purchase offer can take 3–5 business days depending on the lender and complexity of your file. I keep you updated at every stage.

What's the difference between pre-qualification and a pre-approval?

A pre-qualification is an estimate based on a conversation. A pre-approval involves verifying your income, credit, and assets — it's what gives you real buying power and confidence when you make an offer.

Can I use my RRSP for a down payment?

Yes. The Home Buyers' Plan (HBP) lets first-time buyers withdraw up to $35,000 from their RRSP tax-free for a home purchase. The First Home Savings Account (FHSA) allows up to $40,000 lifetime in tax-free savings for a qualifying home purchase — often an even better option. Ask me and your accountant about the right combination.

What if I've been declined by my bank?

Banks have narrow approval criteria. Brokers have access to credit unions, monoline lenders, and alternative lenders your bank won't show you. A bank decline doesn't mean you can't get a mortgage.

Can I get a mortgage if I'm new to Canada or on a work permit?

Yes — there are lender programs for newcomers and temporary residents. The requirements differ from standard applications. Get in touch and I'll walk you through what applies to your situation.

Get Started Today

Ready to Get Started?

Fill out a quick application and I'll be in touch within one business day. No commitment, no pressure — just an honest conversation about your options.

Apply Now Call (403) 875-0848