Calgary’s real estate market is unique, with fluctuating housing prices and interest rates influenced by the city’s diverse economy due to a variety of factors like the types of properties available in the area, buyer demographics, and the neighbourhood itself. Enlisting a skilled mortgage broker can make all the difference in getting the best deal.
Here’s what we recommend to look for when choosing a mortgage broker in Calgary:
1. Familiarity with Calgary’s Economic Cycles
Calgary’s real estate market is heavily influenced by the local economy, particularly the oil and gas sector. A great mortgage broker will be familiar with Calgary’s boom-and-bust cycles and understand how they affect both interest rates and housing prices.
2. Specialization in Calgary’s Investment Property Market
A broker who understands investment properties can help you secure financing with the best terms if you’re looking to buy a rental property or are interested in commercial real estate. Whether you’re a seasoned investor or new to the market, a broker who specialises in investment properties can offer insights on the most profitable areas and property types for long-term returns.
3. Access to Alternative Financing Options
While traditional bank loans are common, Calgary’s real estate market can sometimes require alternative financing solutions, especially for self-employed individuals or those with non-traditional credit histories. This can give you access to more flexible terms and options if you don’t fit the typical mold for a traditional mortgage.
4. Familiarity with Calgary’s New Development Zones
As Calgary continues to grow, certain neighbourhoods and districts are undergoing significant new development, such as East Village or Seton. These areas may offer unique financing challenges, particularly if you are buying a newly constructed property. An experienced broker who is familiar with these emerging neighbourhoods will know the specific requirements or incentives offered by builders or developers, including builder-specific mortgage programs, potential rebates, or incentives for buying in new development zones.
Here are two of the highly rated brokers in Calgary who can assist throughout the process once these factors have been considered:
Rock Solid Mortgages
With 12 years of experience as a mortgage broker and 5 years working directly for lenders, Remi Korent offers unique insight into the approval process, having successfully closed over 2,000 mortgages. His expertise enables him to navigate transactions, uncover opportunities, and resolve challenges with efficiency and creativity. Remi works with clients from all walks of life, providing tailored solutions for a stress-free mortgage experience, while building lasting relationships based on transparency.
Website: rocksolidmortgages.com
Phone: 403-617-9740
Rating: 5 ⭐ (247 Google Reviews)
Concourse Mortgage Group
Concourse Mortgage Group focuses on building lifelong relationships with clients, not just treating mortgages as transactions. With core values of community, collaboration, and culture, they view their clients as part of their extended family, giving back to the community. They work closely with you to create a strategy tailored to your unique needs, ensuring the best possible outcome for your biggest investment. Known for their relatable, positive, and fun approach, Concourse combines professionalism with a personable touch.
Website: concoursemortgage.ca
Phone: 403-300-2773
Rating: 4.9 ⭐ (61 Google Reviews)