We work with 30+ lending partners, including major banks (Scotiabank, ATB Financial, Desjardins), credit unions (Servus), and specialty/alternative lenders like Equitable Bank. That range is what lets a mortgage broker in Calgary find solutions for straightforward A-lender deals and more complex situations alike.

Most clients get a pre-approval decision within a few hours of submitting a complete application, since we work directly with underwriters rather than a generic call centre. Having your income documents, ID, and down payment proof ready ahead of time is the biggest factor in speed. Book a call and we'll tell you exactly what to gather first.

At minimum, lenders want photo ID, proof of income (pay stubs, T4s, or — if self-employed — two years of tax returns and financial statements), proof of down payment source, and a recent credit check authorization. Exact requirements shift depending on whether you're employed, self-employed, or new to Canada — we'll send you a checklist tailored to your situation once we know which.

A bank can only offer you that bank's own products and rates. As a licensed Alberta mortgage broker, My Mortgage Medics shops your application across 30+ lenders — major banks, credit unions, and alternative lenders — to find the rate and structure that actually fits your situation, then negotiates on your behalf. You also get a direct line to a person, not a call centre queue.

For a standard residential mortgage, nothing comes out of your pocket — the lender pays the broker a commission, typically in the range of 0.5% to 1.25% of the mortgage amount, once the deal funds. The only time a broker may charge the borrower directly is on certain private or alternative lending files, where fees are disclosed and agreed to in writing before you proceed.

Yes. In almost all cases, a Calgary mortgage broker is paid a finder's fee by the lender once your mortgage closes, not by you. You get expert advice, access to 30+ lenders, and someone negotiating on your behalf, at no direct cost. (The only exception is certain private or alternative lending deals, which we'll always disclose upfront before you commit to anything.)

Qualifying for a loan depends on several factors including your credit history, income, and the type of loan you are applying for. At Rocky Ridge Funding, we make the qualification process simple and transparent. Our team will evaluate your financial situation and provide guidance on the necessary documentation. If needed, we will work with you to improve your credit profile or financial standing,

Yes. Self-employed income is assessed differently than salaried income — lenders typically average your last two years of declared income or use specialized "stated income" programs designed for business owners and freelancers. As a self-employed mortgage broker in Calgary, we work with lenders who understand this income style and structure the application around it rather than penalizing you for it.

Often, yes. A bank decline usually means you didn't fit that one lender's specific guidelines, not that you're unmortgageable. As a broker, we have access to alternative and private lenders with more flexible criteria than the major banks, and we can usually identify why the decline happened and structure around it. See our Alternative Lending options for more detail.

Yes, with the right lender. Some lenders specialize in clients rebuilding credit after late payments, collections, or even a discharged bankruptcy — they focus more on your current financial stability than your past. Rates are typically higher than prime lending until your credit recovers, but it's a real path back to homeownership. Our Credit Counselling service can help rebuild your profile alongside the mortgage search.

Yes. Several lenders offer newcomer programs for people on a work permit, permanent residency, or recent citizenship, using alternative proof of creditworthiness (foreign credit history, employment letters, larger down payments) in place of a long Canadian credit file. Down payment requirements can be slightly different, so it's worth discussing your specific immigration status with us directly.

Often, yes — even without two full years at the same employer. Some lenders are comfortable with a signed offer letter and a probation period behind you, especially if you're staying in the same field. Others require a longer history. We know which lenders are flexible on employment tenure so you're not stuck waiting out an arbitrary clock.

Conventional ("A") lenders generally want to see a credit score of 680 or higher for the best rates, though approvals happen below that with the right lender and structure. Below roughly 600, you're typically looking at alternative or private lending options rather than a traditional bank. Either way, your score is one input among several — income, debt load, and down payment all factor into the decision.

Refinancing typically makes sense when you want to access home equity for renovations, debt consolidation, or investment, when you can lock into a meaningfully lower rate, or when your financial picture has changed enough that your current mortgage no longer fits. We'll run the numbers including any breakage penalty before recommending it, since it doesn't always pay off depending on where you are in your term.

Refinancing replaces your existing mortgage with a new one, usually for a larger amount, at a new rate and term. A HELOC is a separate revolving line of credit secured against your home equity that you can draw on and repay as needed, typically at a variable rate. Refinancing suits a one-time lump sum need; a HELOC suits ongoing or flexible access to funds.

Yes, this is one of the most common reasons Calgary homeowners refinance or open a HELOC. Rolling high-interest credit card or personal loan debt into a lower-rate mortgage or HELOC can cut total monthly payments significantly, since mortgage rates run well below unsecured credit rates. See Alternative Lending for how we structure these.

Usually, yes, if you're mid-term, the penalty depends on whether you have a fixed or variable rate mortgage and how much time is left. Fixed-rate penalties (interest rate differential) tend to be larger than variable-rate penalties (typically three months' interest). We'll calculate your specific penalty before you decide, so there are no surprises.

Lenders generally allow you to borrow up to 65% of your home's appraised value through a HELOC alone, or up to 80% when combined with your existing mortgage balance. So the more equity you've built (or the more your home has appreciated), the more borrowing room you have.

A lender transfer moves your existing mortgage balance and remaining term to a new lender, usually at renewal time, without changing the amortization or requiring a full refinance. It's typically done to secure a better rate than your current lender is offering, with minimal paperwork compared to a full refinance. See Lender Transfer for the details.

It's worth shopping around every time. Banks often send a renewal offer that isn't their most competitive rate, assuming most people will simply sign and send it back. As a broker, we can compare your renewal offer against 30+ lenders in minutes — if your current lender's rate is genuinely the best fit, great; if not, a transfer usually costs little to nothing extra.

Start about 120 days before your renewal date. Most lenders let you lock in a rate up to four months ahead, which protects you if rates rise in the meantime while still leaving room to switch lenders if a better offer turns up before closing.

Often the new lender covers standard transfer costs (legal and appraisal fees) as an incentive to win your business, so the switch can cost little to nothing out of pocket. Costs are more likely if your mortgage amount changes, your amortization resets significantly, or you're transferring outside the standard renewal window.

Alternative lending refers to mortgage financing from lenders outside the traditional banks and credit unions, they focus more heavily on the property and your overall situation than on rigid income or credit rules. It's typically used when self-employment income, credit history, or a bank decline keeps a conventional lender from saying yes. Browse Alternative Lending for more.

A-lenders are conventional lenders (major banks and credit unions) that lend to borrowers who meet standard income, credit, and debt-ratio guidelines, usually at the lowest rates. B-lenders are alternative lenders who work with borrowers who don't quite fit A-lender criteria, self-employed income, lower credit scores, or higher debt ratios, at a somewhat higher rate in exchange for that flexibility. Many clients use a B-lender for a year or two, then move back to an A-lender once their file strengthens.

Yes, generally. Alternative and private lenders take on more flexibility around income and credit verification, and price that flexibility into a higher rate than a bank would offer a prime borrower. The trade-off is access to financing you might not otherwise qualify for at all.

Usually short to medium-term. The common strategy is to use an alternative lender to solve an immediate problem a bank decline, a credit rebuild period, or a tight timeline for one to two years, then refinance into a conventional A-lender mortgage once your income, credit, or documentation improves.

Programs include the Home Buyers' Plan (withdraw RRSP funds tax-free toward a down payment), the First Home Savings Account (FHSA), and provincial land transfer tax rebates where applicable. Eligibility and benefit amounts vary, so we'll map out which programs you actually qualify for during your consultation. See our Buyer's Guide for a full walkthrough.

In short: apply online, by phone, or by email; we review your financials and get you pre-approved; you shop for homes within your approved budget with a clear sense of what you can offer; once you're under contract, we finalize the mortgage with the lender; then it closes with your lawyer. We're available 7 days a week throughout, so questions don't sit unanswered.

Plan for roughly 1.5% to 4% of the purchase price on top of your down payment, covering legal fees, land transfer tax (where applicable), title insurance, home inspection, and adjustments. Alberta doesn't charge a land transfer tax the way Ontario or BC do, so Calgary buyers typically land at the lower end of that range — we'll give you a precise estimate once we know your purchase price and province.

Not quite, pre-approval confirms what you can likely borrow based on the financial picture and rate at that point in time, but final approval still requires the lender to underwrite the specific property you're buying (appraisal, title, condition) and reverify your finances haven't materially changed. It's a strong signal, not an ironclad guarantee.

Yes. Most lenders offer a rate hold of 90 to 120 days from pre-approval, which protects you from rate increases while you shop, without obligating you to that lender if a better offer comes along. If rates drop before you close, many lenders will also let you take the lower rate.

No. While we're based in Calgary, including nearby communities like Airdrie and Cochrane we're licensed and active across Alberta, British Columbia, and Saskatchewan. Most of the process happens remotely by phone, video, or email regardless of where in those provinces you're buying.

The core federal mortgage rules (down payment minimums, insurance requirements, stress test) are the same nationwide, but provincial details like land transfer or property transfer tax, legal processes, and some down payment assistance programs differ by province. As your Alberta mortgage broker, we'll flag anything province-specific that applies to your purchase.

Yes, as long as the property is in Alberta, BC, or Saskatchewan, our licensing covers it, and the application process is fully remote-friendly. Whether you're in the Beltline, out in Aspen Woods, or buying in another city entirely, we coordinate with local lawyers and appraisers wherever the property is located.