Buying a Home in Calgary: Honest 2026 Market Look

General Cassey Bush 15 Jun

Is Now a Good Time to Buy in Calgary? An Honest Mid-2026 Look

It is one of the most common questions I get asked right now.

“Cassey, should I buy? Or should I wait?”

And I’ll be honest with you, there is no single right answer.

But there is a lot of noise out there right now, and I think you deserve a clear-eyed look at what is actually happening in Calgary’s housing market this summer. No hype. No doom and gloom. Just the real picture.

What the Calgary Market Actually Looks Like Right Now

Calgary is not the frenzied seller’s market it was a couple of years ago.

That’s not a bad thing. It’s actually a more normal thing.

Here is what the data is showing as we head into summer 2026:

  • Inventory is up. Calgary has around 6,700 active listings, about 11% higher than the longer-term average for this time of year. More choice for buyers is a good thing.
  • The overall market has shifted to balanced. After three consecutive years of favouring sellers, Calgary is officially in balanced market territory. Buyers have more leverage than they have in years.
  • It depends heavily on what you are buying. This is the part most headlines miss. Detached homes, especially in the northwest, west, and south, are still tight. We’re talking under two months of supply in some areas. Condos and apartments are a different story, with softer demand and more competition among sellers.
  • Prices have moderated, not crashed. As per CREB, the average Calgary home price in May was around $665,000, up about 2.5% year over year. We are not seeing dramatic drops, just a cooling off from peak growth.

So is it a buyer’s market? In some segments, yes. In others, not really.

The Honest Case For Buying Right Now

If you have been sitting on the sidelines waiting for the “perfect” moment, here is what I want you to consider.

You have more negotiating power than you did two years ago.

In 2023 and 2024, buyers were waiving conditions, going over asking, and competing in multiple-offer situations almost constantly. That pressure has eased. You can take more time. You can ask for conditions. You can negotiate.

Detached home inventory is still tight.

If you are looking for a single-family home in a desirable part of the city, do not expect to find a steal. Those properties are still moving and still holding value. Waiting may not give you a better deal, it may just give you a higher price later.

Rates are not dropping dramatically anytime soon.

The Bank of Canada has held steady, and while there is still some room for modest movement, anyone waiting for rates to fall significantly before buying may be waiting a long time. And when rates do drop meaningfully, more buyers typically re-enter the market, which drives prices up. You do not always win by waiting.

The Honest Case For Waiting

I am not here to talk anyone into buying before they are ready.

If your finances are not in order, wait.

Your down payment, your credit, your income stability, your emergency fund, these things matter more than market timing. A great market at the wrong time for your finances is still the wrong time.

If you are eyeing a condo or apartment, you may have more time.

The condo segment in Calgary is dealing with real supply pressure right now. There is less urgency on that side of the market. Take your time, compare carefully, and negotiate.

If your life circumstances are unsettled, wait.

Job change on the horizon? Relationship in transition? Family size uncertain? A mortgage is a long-term commitment. Buy when your life is ready, not just when the market looks okay.

The Question Beneath the Question

When people ask me, “Is now a good time to buy?” what they are often really asking is:

“Am I going to regret this?”

And the truth is, nobody can tell you that with certainty.

What I can tell you is that people who buy a home in Calgary at a fair price, with a mortgage structure that fits their life, and hold it for the medium to long term, generally do not regret it.

The people who tend to struggle are the ones who stretched beyond what they could afford, bought without understanding their mortgage terms, or made decisions based on fear or FOMO rather than their actual situation.

Market timing matters a lot less than financial preparedness and clear thinking.

What I Would Tell a Friend Right Now

If you are financially ready, have found a home you love in a price range you can genuinely afford, and are planning to stay in Calgary for the foreseeable future, yes, now is a reasonable time to buy.

If you are not quite there yet, use this balanced market as an opportunity to get your ducks in a row. Get pre-approved. Understand your budget. Work with someone who will give you an honest picture of what you can carry, not just what you can technically qualify for.

Because in the end, the best time to buy a home is when you are ready. Not when the headlines say so.

If you want to talk through your specific situation, whether you are thinking of buying this summer or just trying to understand your options, I am always happy to chat.

 

P.S. Stampede is just around the corner. If you are a Calgary person, you know what that means, and if you are not, just know that this city is about to have a very good time.

Get a Mortgage in Calgary | Alberta Mortgage Guide

General Cassey Bush 20 May

How to Get a Mortgage in Calgary: A Simple Guide for Alberta Homebuyers

Getting a mortgage in Calgary can feel overwhelming, especially if you are buying a home for the first time or have not gone through the process in years.

There are rates everywhere online, lenders advertising constantly, and enough mortgage terminology to make anyone’s head spin.

The good news is this: getting a mortgage does not have to be complicated when you have the right strategy and the right people helping you through the process.

Whether you are buying your first home, upgrading, refinancing, renewing your mortgage, or purchasing an investment property, understanding how the process works in Alberta can help you make better financial decisions from the start.

Step 1: Understand What You Can Afford

Before looking at homes, the first step is understanding what your budget realistically looks like.

This includes:

  • Your income
  • Monthly debts and obligations
  • Down payment available
  • Credit history
  • Monthly comfort level

Many buyers make the mistake of looking at homes first and financing second.

A proper mortgage review helps create realistic expectations before you start shopping, which saves time and prevents disappointment later in the process.

Step 2: Work With a Mortgage Broker in Calgary

One of the biggest advantages buyers have today is access to a mortgage broker.

Many people still assume going directly to their bank is the best option.

But a bank can only offer its own products.

A mortgage broker can compare multiple lenders, products, and qualification options across the market.

That matters more than ever in today’s lending environment.

Different lenders have different:

  • Rates
  • Qualification guidelines
  • Down payment requirements
  • Debt servicing policies
  • Self-employed programs
  • Rental property programs
  • Prepayment privileges

This is where expertise becomes valuable.

A mortgage is not just about getting approved.

It is about structuring the mortgage properly for your long-term goals.

Sometimes the best mortgage is not the one with the absolute lowest rate. Features like flexibility, penalties, prepayment privileges, and future planning can have a much bigger financial impact over time.

Step 3: Get Pre-Approved

A mortgage pre-approval helps determine:

  • Your maximum purchase price
  • Estimated monthly payments
  • Down payment requirements
  • Expected closing costs

It also allows you to shop confidently when you begin looking at homes in Calgary.

Keep in mind that a pre-approval is not a final approval. Once you have an accepted offer on a property, the lender still needs to review the home itself along with updated documents.

Step 4: Understand Your Down Payment Options

In Canada, the minimum down payment depends on the purchase price of the home.

For owner-occupied properties:

  • 5 percent on the first $500,000
  • 10 percent on the portion between $500,000 and $1,500,000
  • 20 percent minimum above $1,500,000

Your down payment can come from several sources, including:

  • Savings
  • Investments
  • Gifted funds from direct family
  • Sale proceeds from another property
  • Borrowed funds in some cases

A broker can help determine which options work best for your situation and ensure the source of funds meets lender requirements.

Step 5: Choose the Right Mortgage Product

This is one of the most important parts of the process.

There is no universal “best mortgage.”

The right mortgage depends on your goals, future plans, and comfort level.

Some of the biggest decisions include:

Fixed vs variable rates

Fixed rates offer stability and predictable payments.

Variable rates offer flexibility and may benefit if rates decrease.

Both have advantages depending on your situation.

Open vs closed mortgages

Open mortgages allow you to pay off the mortgage anytime without penalty but usually come with higher rates.

Closed mortgages typically offer lower rates but include restrictions.

Prepayment privileges

Some lenders allow larger lump sum payments and payment increases than others.

These features can save significant interest over time and are often overlooked.

Step 6: Submit Documents and Finalize Approval

Once you have an accepted offer, your broker will work with the lender to finalize approval.

Common documents include:

  • Income confirmation
  • Job letters
  • Pay stubs
  • Tax documents
  • Down payment verification
  • Identification

Your broker coordinates with the lender, realtor, and lawyer to help keep everything moving smoothly toward possession day.

Why Working With a Mortgage Broker Matters

Buying a home is one of the largest financial decisions most people will make.

Having someone guide you through the process matters.

A mortgage broker’s role is not just to find a rate.

It is to help structure a mortgage that fits your life today while supporting your goals tomorrow.

That includes helping clients:

  • Understand their options
  • Avoid costly mistakes
  • Navigate lender policies
  • Build long-term financial strategies
  • Plan for future renewals and refinancing opportunities

The mortgage world changes constantly, especially in Alberta’s evolving market.

Having an experienced professional in your corner can make the process significantly less stressful.

Final Thoughts

Getting a mortgage in Calgary is about much more than simply getting approved.

It is about understanding your options, building a strategy, and choosing a mortgage product that supports your future goals.

The right mortgage can create flexibility, improve cash flow, and help build long-term wealth.

And having the right guidance throughout the process can make all the difference.

Fixed vs Variable Mortgages in Alberta: What Homeowners Need to Know in 2026

General Cassey Bush 13 Apr

Fixed vs Variable Mortgages in Alberta: What’s Actually Happening Right Now

If you’ve been paying attention to mortgage rates lately in Alberta, you may have noticed something that feels a bit confusing.

Fixed rates have been creeping up.

Variable rates have barely moved.

So what is going on?

And more importantly, how should you think about choosing between fixed and variable right now?

This is not about telling you which option is “right.” It is about giving you a clear picture of what is happening so you can make a more informed decision here in Alberta.

Why Fixed and Variable Rates Are Moving Differently

One of the biggest misconceptions in the mortgage world is that all rates move together.

They do not.

Fixed and variable rates are driven by completely different forces.

Variable rates

Variable rates in Alberta are tied directly to the Bank of Canada’s policy rate.

When the Bank raises or lowers rates, variable mortgage rates typically follow. If the Bank holds rates steady, variable rates usually stay the same.

Right now, the Bank of Canada has been holding its rate steady, which is why variable rates across Alberta have remained relatively stable.

Fixed rates

Fixed rates do not follow the Bank of Canada directly.

They are driven by the bond market, specifically Government of Canada bond yields.

And here is where things have shifted.

Bond yields have recently increased due to inflation concerns and global uncertainty. As a result, fixed mortgage rates available to Alberta homeowners have moved higher, even while the Bank of Canada has not changed its rate.

That is why you are seeing fixed rates rise while variable rates remain steady.

What We Are Seeing in Alberta Right Now

Here is the current reality for Alberta homeowners:

  • Variable rates have stabilized after a period of rate cuts in 2024 and 2025

  • The Bank of Canada is taking a cautious approach, with limited short-term movement expected

  • Fixed rates have increased recently as bond yields react to inflation and economic uncertainty

In simple terms:

Variable rates are reacting to what has already happened.

Fixed rates are reacting to what the market believes will happen next.

Fixed vs Variable: The Real Trade-Off

This is where the conversation often gets oversimplified.

It is not just about which rate is lower today.

It is about how you want to manage risk as a homeowner in Alberta.

Fixed rate mortgages

A fixed rate gives you stability.

Your payment stays the same for the entire term, which makes budgeting simple and predictable.

But that certainty comes with trade-offs:

  • You are locked in if rates drop

  • Breaking the mortgage can be expensive

  • You may start at a higher rate

Variable rate mortgages

A variable rate gives you flexibility.

You can benefit if rates decrease, and penalties are typically lower if you need to make changes.

But you are taking on more uncertainty:

  • Rates can rise

  • Payments or amortization can shift

  • You need to be comfortable with movement

Why This Decision Feels Hard Right Now

We are in a market where:

  • Rates have already gone through a major cycle

  • The Bank of Canada is holding steady

  • The future direction is still uncertain

There is no clear “obvious” answer.

For Alberta homeowners, this uncertainty is especially important as many are coming up for renewal over the next few years.

Some forecasts suggest rates could remain stable through much of 2026, while others leave room for movement depending on inflation and global conditions.

That uncertainty is exactly why fixed rates have been more volatile than variable rates recently.

Markets are trying to price in what comes next.

A More Practical Way to Think About It

Instead of asking:

“Which rate is lower?”

A better question is:

“What level of risk am I comfortable managing over the next few years?”

  • If you value predictability and want consistent payments, fixed may make sense

  • If you have flexibility in your cash flow and can handle some movement, variable may offer opportunity

There is no one-size-fits-all answer for Alberta homeowners.

Only the right answer for your situation.

The Bigger Picture Most People Miss

The fixed versus variable debate often becomes the entire conversation.

It should not be.

Because the truth is:

The difference between strategy, structure, and planning will almost always outweigh a small difference in rate.

This includes decisions like:

  • How your mortgage is structured

  • Whether you have strong prepayment privileges

  • Whether you are consolidating higher interest debt

  • Whether your mortgage supports your long-term financial goals

These factors can have a much greater impact on your financial outcome than a small difference in rate.

Final Thoughts for Alberta Homeowners

The current market is not broken. It is working exactly as it should.

Fixed rates are adjusting based on future expectations.

Variable rates are holding based on current policy.

Both are doing what they are designed to do.

Your job is not to predict the market perfectly.

Your job is to choose a mortgage strategy that fits your life, your goals, and your tolerance for change.

Because at the end of the day, the best mortgage is not the one with the lowest rate.

It is the one that works for you.

 

P.S. Big shout-out to my women’s soccer team for taking gold at provincials this year. I am ever impressed by this group.

Mortgage Renewal in Canada: Why You Should Never Just Sign the Bank’s Offer

General Cassey Bush 12 Mar

Mortgage Renewal in Canada: Why You Should Never Just Sign the Bank’s Offer

Every three to five years, many homeowners receive the same letter from their lender.

It lists a few mortgage rates and asks you to choose a new term.

Many homeowners glance at the numbers, sign the document, and send it back within minutes.

What most people do not realize is that a mortgage renewal is one of the most powerful financial opportunities you will have as a homeowner.

Done properly, it can reduce interest, improve cash flow, eliminate debt, or create new investment opportunities.

Done poorly, it can cost you thousands of dollars.

A mortgage is far more than just a rate.

What Happens When Your Mortgage Renews

When your mortgage term ends, the remaining balance does not disappear. The lender offers a new term with updated rates so you can continue paying the remaining balance.

Most lenders send renewal offers about four months before the maturity date.

At that point, you typically have three options:

• Accept your lender’s renewal offer

• Negotiate new terms with your current lender

• Move your mortgage to a different lender

If you move your mortgage to another lender without increasing the amount, this is called a mortgage switch.

Many homeowners assume they must stay with their lender. That is not true.

Switching Lenders at Renewal Is Easier Than Ever

In the past, one major obstacle prevented many homeowners from switching lenders.

The mortgage stress test.

Borrowers who wanted to move their mortgage had to requalify under the federal stress test, which required them to qualify at the greater of:

• 5.25 percent

• or their mortgage rate plus two percent

This often prevented borrowers from switching lenders even if better options existed.

However, as of late 2024, federal regulators removed the stress test requirement for borrowers switching lenders at renewal if the mortgage balance and amortization remain the same.

This change increased competition among lenders and made it easier for homeowners to shop their mortgage.

That means simply signing your bank’s renewal letter is no longer the only option.

Why Your Bank’s First Renewal Offer Is Rarely the Best One

Your current lender already has your mortgage.

They have little reason to offer their most competitive terms unless you explore other options.

Renewal letters are often designed for convenience, not optimization.

But the bigger issue is this.

Most borrowers focus only on the rate.

And that is where many costly decisions happen.

A Mortgage Is More Than Just a Rate

Two mortgages can have almost identical rates but dramatically different features.

Some of the most important features include:

Prepayment privileges

Many mortgages allow you to make extra payments toward your principal every year without penalty. These privileges often range between 10 percent and 20 percent of the mortgage balance annually.

Used consistently, these extra payments can shorten your amortization by several years and save tens of thousands in interest.

Payment flexibility

Some lenders allow you to increase payments, make lump sum contributions, or skip payments if needed.

These features can provide valuable flexibility during life changes such as job transitions, growing families, or unexpected expenses.

Penalty structures

Some mortgage products carry very high penalties if the mortgage is broken early.

Others are far more forgiving.

Choosing the wrong mortgage product to save a small amount on rate can become expensive if your situation changes before the term ends.

Mortgage Renewal Is a Strategic Financial Opportunity

A mortgage renewal is one of the few times when you can restructure your mortgage without paying a penalty.

That makes it an ideal moment to review your broader financial picture.

Debt consolidation

High interest debt, such as credit cards and unsecured loans, can often be consolidated into a mortgage refinance.

Mortgage interest rates are typically far lower than consumer debt rates, which can significantly reduce monthly obligations and improve overall cash flow.

Adjusting amortization

At renewal, you may have the option to adjust your amortization period.

Extending amortization can lower monthly payments and increase financial flexibility.

Accessing equity

Homeowners who have built equity in their property may choose to access that equity at renewal.

This can be used for renovations, investments, or other long term financial strategies.

These decisions require careful planning and should be evaluated as part of a broader financial strategy.

Early Mortgage Renewal Strategies

Another option many homeowners do not realize exists is renewing early.

Most lenders allow borrowers to renew their mortgage up to 120 days before maturity without penalty.

In certain market conditions, this can be beneficial.

For example, many mortgages written in 2023 were placed during a higher interest rate environment.

If interest rates decline before those mortgages mature, an early renewal could allow homeowners to secure a lower rate sooner.

This can reduce monthly payments, improve cash flow, and reduce overall interest costs.

Early renewal is not always the right move, but it is an important strategy to consider.

The Next Wave of Mortgage Renewals in Canada

Canada is entering a major mortgage renewal cycle.

Millions of mortgages will renew between 2025 and 2027, many of which were written during periods of unusually low interest rates.

As these mortgages mature, borrowers may experience changes in their monthly payments depending on current rates.

This makes proactive planning more important than ever.

Understanding your options well before your renewal date can help you make informed decisions rather than rushed ones.

Why Working With a Mortgage Broker Matters

A bank can only offer its own mortgage products.

A mortgage broker can compare many lenders and evaluate which options align with your financial goals.

More importantly, a broker helps you evaluate the strategic questions that matter most:

Should you refinance or simply renew?

Should you consolidate debts?

Should you adjust your amortization?

Should you switch lenders?

Should you renew early?

The answers to these questions can have a far greater financial impact than a small difference in rate.

The Bottom Line

A mortgage is one of the largest financial commitments most people will ever have.

Yet many homeowners spend more time researching a new phone than reviewing their mortgage renewal options.

A small difference in interest rate may save a little money.

A well structured mortgage strategy can save a lot more.

Your mortgage renewal should not be a five minute decision.

It should be a strategic financial review that positions you for the next five years and beyond.

Because a mortgage is not just a loan.

It is one of the most powerful financial tools you have.

 

P.S: Almost four years ago, I was introduced to the mortgage broker world and decided to change my career path. Fast forward to today, and I’m in the top 10 percent out of more than 9,000 DLC brokers across Canada for 2025.

I was also honoured to receive the Growth Award at MOCO’s 2025 Awards Gala, which made the year even more meaningful.

A huge thank you to my clients for your trust, your introductions, and for continuing to put my name in the room when it matters most. Your support and confidence mean everything.

Shout out to my team and the incredible brokers I get to work alongside every day in the office. I am surrounded by sharp, driven people.

Starting 2026 with clear eyes and a full heart. Can’t lose.

The True Cost of a Low Rate Mortgage in Canada

General Cassey Bush 13 Feb

The True Cost of a Low Rate Mortgage

If you search for mortgages online, you will see one thing everywhere: the lowest rate. Big numbers. Bold ads. Lots of promises. It looks simple. Pick the lowest rate and win.

If only it were that easy.

A low rate can be helpful, but it is not the full story. Some low-rate mortgages come with tight rules, high penalties, and very little flexibility. That can cost you far more than the rate ever saves. A mortgage is not just a number. It is a contract, a plan, and a long-term money tool.

Let’s look at what really matters.

The Rate Is Only One Piece

A low rate feels good at the start. But what happens if you need to break your mortgage early? What if you move, refinance, or pay off debt using your equity?

Some low-rate products have large penalties and strict terms. That means if your life changes, your mortgage becomes expensive to adjust. Saving a small amount on the rate can lead to paying a large amount in fees later.

The cheapest sticker price is not always the cheapest total cost.

Flexibility Has Real Value

A strong mortgage gives you options. Options are powerful.

Good mortgage structure can include:

  • Prepayment privileges

  • Fair penalty calculations

  • Portability if you move

  • Refinance flexibility

  • Better support and planning

These features may not show up in a rate ad, but they can save thousands of dollars over time. Flexibility is not flashy, but it is profitable.

The Penalty Surprise

Many borrowers are shocked when they learn how penalties are calculated. Two mortgages with similar rates can have very different penalty costs.

Some lenders use formulas that increase the payout amount if you break early. Others are more reasonable. This detail is often missed when people shop by rate alone.

It is a bit like buying the cheapest plane ticket, then paying extra for the seat, the bag, and the air you breathe.

Strategy Beats Headlines

The best mortgage is built around your goals, not an advertisement.

Some clients want the lowest payment. Some want to crush debt fast. Some individuals want access to equity for investment purposes. Some want maximum safety and predictability. Each goal points to a different mortgage structure.

When you build the plan first, then choose the product, the results are much stronger.

The Bottom Line

A low rate is nice. A smart mortgage is better.

The real win is not just shaving a fraction off your rate. The real win is having the right structure, the right options, and a plan that supports your long-term financial goals.

Rates are important. Strategy is what saves money.

If you are choosing between offers, it helps to look past the headline and run the full numbers. Future you will be very glad you did.

 

P.S.

2025 was an incredible year. I learned a great deal, worked with amazing people, and finished in the top 10% of DLC brokers. I’m truly grateful for the trust my clients place in me and proud to see them in mortgage solutions that match their real needs and long-term plans. The referrals that happen when I’m not in the room mean the most. Thank you for the continued support and confidence. 2026 is set to be another strong year.

Clear eyes, full heart. Can’t lose

The #1 Mortgage Question in Alberta Right Now: “How Much Can I Really Afford?”

General Cassey Bush 12 Nov

If you’ve been thinking about buying a home in Alberta, you’ve probably asked yourself this question: “How much home can I actually afford with these interest rates?”

You’re not alone. This is the number one question we’re hearing across the province, from first-time buyers in Calgary to families upgrading in Edmonton.

With rates holding higher than what we’ve seen in the last few years, affordability has become the deciding factor in every mortgage conversation.

Why Everyone’s Asking This Question

For years, low interest rates made it easy to estimate what you could afford, and monthly payments were fairly predictable. But today’s market looks different.

Interest rates have more than doubled since 2021, and that shift has changed the math. Even a 1% difference in rate can mean hundreds of dollars more in monthly payments.

Combine that with rising property taxes, insurance costs, and tighter lending rules, and suddenly, “How much can I afford?” isn’t a simple question anymore.

The Real Answer: It Depends on More Than Just Your Rate

Your affordability is shaped by a few key factors:

  1. Your income and debts: Lenders use your debt-to-income ratio to see what you can handle comfortably.

  2. Your down payment: The more you put down, the more flexible your options.

  3. Amortization period: Spreading payments over 30 years lowers your monthly cost (but increases total interest).

  4. Type of mortgage: Fixed or variable? Insured or conventional? These choices all affect your payment and risk level.

A quick pre-approval or affordability review can show you exactly where you stand before you start shopping.

What Albertans Are Doing About It

Many buyers are adjusting their expectations, looking slightly outside the city, choosing smaller homes, or buying with family members to share the costs.

Others are taking advantage of shorter-term fixed rates, planning to refinance when the rate environment softens.

The key takeaway? You still have options, you just need to understand your numbers.

More Than Just a Mortgage Rate

When you work with me, you’re not just getting a rate, you’re getting a plan.

I’m with you through the entire life of your mortgage, not just on closing day. As your life changes, whether you’re growing your family, buying an investment property, or simply wanting to get ahead financially, I’ll be there to make sure your mortgage keeps working for you.

My goal is to save you as much money as possible along the way. Sometimes that means getting you the lowest rate, but often it means looking deeper, at terms, penalties, flexibility, and long-term strategy. Because a great mortgage is about more than the number on the rate sheet.

Final Thoughts

Buying a home in Alberta today isn’t about guessing how much you can afford. It’s about knowing.

And having someone in your corner who helps you make confident, money-smart decisions, every step of the way.

 

Added Bonus

Honouring our Heroes this Remembrance Day

Each November, we pause to remember the courage and sacrifice of those who served our country. Here in Calgary, MOCO is proud to support the Field of Crosses through our community initiatives with Connected to the Community (CTTC).

The Field of Crosses is a powerful tribute. Thousands of white crosses line Memorial Drive, each one representing a Southern Albertan who gave their life in service. Standing among them reminds us of the freedom we enjoy and the responsibility we share to keep their memory alive.

At MOCO and CTTC, giving back isn’t just a seasonal effort, it’s part of who we are. This Remembrance Day, we honour those who served, and we continue to serve our community in their memory.

As Fall Turns to Winter, It’s Time to Rethink Your Mortgage Strategy

General Cassey Bush 14 Oct

As the leaves fall and we dig out the winter coats, it’s also the season when many homeowners start thinking about locking in stability before the new year. Whether you’re buying, refinancing, or just curious about your options, there’s one simple truth worth repeating: a mortgage broker can do far more for you than your bank.

Here’s why.

1. Access to More Options, Not Just One

Your bank can only offer its own products, with a single lineup and a single set of rules, and a single interest rate sheet.

A mortgage broker, on the other hand, works with dozens of lenders (including major banks, credit unions, and monoline lenders) to find the right fit for you. That means better rates, more flexibility, and often products that the average person doesn’t even know exist.

2. Prepayment Privileges That Actually Work for You

Not all mortgages are created equal. Some lenders allow you to make lump-sum payments, double up payments, or increase your regular payment by a set amount, all helping you pay off your mortgage years faster.

Banks often advertise prepayment options, but the fine print can make them hard to use. A broker can match you with a lender whose terms make it easy to pay extra when you can.

3. Smaller Penalties, Bigger Savings

Here’s one that catches people off guard: prepayment penalties.

When you break your mortgage early, banks often calculate penalties using an interest rate differential (IRD) method that can cost thousands more than with a brokered lender.

Brokers have access to lenders who calculate penalties more fairly, and we make sure you understand those numbers before you sign.

4. Simplicity and Service

Working with a broker means no call centres, no long holds, and no taking a number at the branch. You get direct access to someone who knows your file, your goals, and your timeline.

Whether you prefer to meet in person, talk over the phone, or handle everything digitally, we make it simple, and fast.

5. It’s Free to Use a Broker

A lot of people don’t realize this, but in most cases, our services are completely free to you. We’re paid by the lender when your mortgage funds, which means you get expert advice, multiple options, and personalized service, all at no extra cost.

Bottom Line

As the season changes and we start preparing for the year ahead, it’s a great time to make sure your mortgage is working for you, not against you.

Working with a mortgage broker means more choice, more flexibility, and often, more savings in your pocket.

So before winter really sets in, let’s make sure your mortgage strategy is as ready for the season as your snow tires.

The Smart Way Parents Can Help Their Kids Buy a Home in 2025

Mortgage Tips Cassey Bush 12 Jun

Thinking of Helping Your Kids Buy Their First Home? Here’s How to Do It Right

As home prices remain high and mortgage rules shift, many first-time homebuyers are leaning on their parents for financial help. If you’re a parent wanting to support your child’s first home purchase, but not sure how to do it wisely, you’re not alone.

Let’s walk through what’s happening in the market today and the best options available for parents like you.

Parents Are Stepping Up in Big Ways

  • Over half of first-time buyers are co-buying with someone other than a spouse, often a parent.

  • Gifts are generous, but 80% of recipients say they would’ve purchased anyway, though with compromises.

  • More buyers are looking for homes with rental suites, creating flexibility for family or extra income.

A Financial Tool That’s Changing the Game: Reverse Mortgages (see more details in May post)

If you’re over 55 and own your home, a reverse mortgage can let you access your home equity, tax-free and with no monthly payments, to help your child buy their first home.

Why Parents Love Reverse Mortgages:

  • Stay in your home and maintain ownership.

  • Get a lump sum (or payments) from your home’s value.

  • No required payments until you move, sell, or pass away.

Use the Funds For:

  • Helping with a down payment or closing costs.

  • Creating a basement suite or rental unit in a new multi-gen home.

  • Keeping your RRSPs and investments untouched for retirement.

Other Options to Consider

Helping your child doesn’t mean draining your accounts. You may also want to explore:

  • Joint ownership or co-signing the mortgage (be mindful of risks).

  • Home Equity Line of Credit (HELOC)—if you want flexibility and control.

  • Gifting funds now vs. leaving a larger estate later.

      • Side bar, if you are looking for a great book, consider:

        Die with Zero, Bill Perkins

  • Refinancing your mortgage to free up cash for support or renovations.

What You Need to Watch Out For

  • Interest accrual on a reverse mortgage can reduce your estate’s value.

  • Eligibility depends on age, home type, and location.

  • Tax or legal consequences of gifting or co-owning should be reviewed with a professional.

Parents: You’ve Got Options—Let’s Find the Right One

Helping your child doesn’t have to mean hurting your own financial future. Whether it’s through a gift, joint purchase, or using your home equity with a reverse mortgage, you can empower your child’s first home purchase and keep your retirement goals intact.

Need help exploring your best options? Let’s talk.

I’ll help you look at all the strategies, from gifting to reverse mortgages and guide you through the process with your family’s future in mind.

Reverse Mortgages in Alberta: Understanding the Pros, Cons, and Who They’re Right For

Mortgage Tips Cassey Bush 13 May

Reverse Mortgages in Alberta: Understanding the Pros, Cons, and Who They’re Right For

As property values in Alberta have steadily increased over the years, many homeowners find themselves with significant home equity. One option to access this value is through a reverse mortgage, but it’s important to understand the ins and outs before making a decision. While reverse mortgages aren’t the right fit for everyone, they can offer financial flexibility for some homeowners.

What Is a Reverse Mortgage? A reverse mortgage allows homeowners aged 55 and older to borrow against their home equity without having to sell their property or make regular mortgage payments. The loan is repaid when the homeowner moves out permanently, sells the house, or passes away. The amount you can borrow depends on factors such as your age, the value of your home, and your location.

Why Are Reverse Mortgages Gaining Attention? Property values in Alberta have grown significantly, leading to increased home equity for many residents. This rise in equity can be an opportunity for homeowners looking to leverage their investment without selling their property. For some, a reverse mortgage can provide additional income, help with retirement expenses, or even support family members looking to enter the housing market.

Potential Benefits

  • No Monthly Payments: One major advantage is the elimination of monthly mortgage payments, which can help those on a fixed income.
  • Access to Cash: Homeowners can unlock the value tied up in their property while continuing to live there.
  • Flexible Use of Funds: Whether it’s for living expenses, home improvements, or helping family members with a down payment, the funds can be used as needed.

 

Potential Drawbacks

  • Reduced Inheritance: Since the loan must be repaid when the house is sold or ownership changes, the amount passed down to heirs may be reduced.
  • Interest Accumulation: Since payments aren’t made regularly, interest compounds over time, potentially increasing the amount owed.
  • Eligibility Considerations: Not all properties qualify, and the amount available may not meet every homeowner’s financial needs.

 

Who Is the Right Candidate? A reverse mortgage can be a good option for homeowners who:

  • Are aged 55 or older
  • Have significant home equity
  • Want to stay in their current home long-term
  • Need extra funds for retirement or to support family members
  • Understand the potential impact on their estate

If you’re considering a reverse mortgage, take the time to weigh the pros and cons and consult with a trusted mortgage professional to ensure it aligns with your financial goals. It’s not a one-size-fits-all solution, but for the right situation, it can offer valuable support.

Saving a Down Payment in Canada: Best Accounts & Strategies

General Cassey Bush 14 Mar

Best Savings Accounts for a Down Payment

Canada offers several tax-advantaged accounts that can help you grow your down payment faster. Here’s what you need to know:

1. First Home Savings Account (FHSA)

  • Designed specifically for first-time homebuyers.
  • Contributions are tax-deductible (like an RRSP), and withdrawals for a home purchase are tax-free (like a TFSA).
  • Maximum contribution of $8,000 per year, up to a lifetime limit of $40,000.
  • Can be combined with the Home Buyers’ Plan (HBP) for even more savings.

2. Tax-Free Savings Account (TFSA)

  • Contributions are made with after-tax income, but investments grow tax-free.
  • Withdrawals (including investment gains) are also tax-free.
  • No restrictions on how funds are used, making it flexible for a down payment.
  • 2024 contribution limit: $7,000 (with cumulative room from previous years if unused).

3. Registered Retirement Savings Plan (RRSP) – Home Buyers’ Plan (HBP)

  • Allows first-time buyers to withdraw up to $35,000 tax-free for a down payment.
  • Must be repaid over 15 years to avoid tax penalties.
  • Good for those who have been saving in an RRSP but need to access funds early.

4. High-Interest Savings Accounts (HISA)

  • No tax benefits, but offers easy access and higher interest than regular savings accounts.
  • Safe and liquid option for short-term saving.
  • Can be used alongside other accounts to diversify savings.

Tips to Maximize Your Savings

  • Automate Contributions: Set up automatic transfers to your savings accounts to stay consistent.
  • Reduce Unnecessary Expenses: Cut down on discretionary spending and put that money into savings.
  • Invest Wisely: Consider low-risk investments to grow your savings over time without excessive risk.
  • Take Advantage of Government Incentives: Programs like the FHSA and HBP can significantly reduce your tax burden while growing your savings.

Insured vs. Insurable Mortgages: What’s the Difference?

When saving for a down payment, it’s important to understand how your mortgage will be classified:

  • Insured Mortgage: If your down payment is less than 20%, you’ll need mortgage default insurance (CMHC, Sagen, or Canada Guaranty). This protects the lender but increases your overall cost.
  • Insurable Mortgage: If your down payment is 20% or more, mortgage insurance is not required. However, if you meet certain lender criteria, you may still qualify for lower interest rates.

Knowing which category you’ll fall into can help you set realistic savings goals and plan for additional costs.

Final Thoughts

Saving for a down payment is all about using the right tools and staying disciplined. Take advantage of tax-efficient accounts like the FHSA, TFSA, and RRSP, and keep your savings strategy on track with automated contributions and smart budgeting. The sooner you start, the closer you’ll be to homeownership!

Need help planning your mortgage? Let’s chat about your best options and how to maximize your savings for a smooth home-buying process.

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