Mortgage trends in Calgary
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Understanding Mortgages in Calgary: A Guide for Homebuyers
Thinking about buying a home in Calgary? Whether you're looking at resale homes in Calgary or pre-construction homes in Calgary, understanding the mortgage process is a critical first step.
What Is a Mortgage?
A mortgage is a loan from a lender that allows you to buy a home without paying the full price upfront. You'll repay the loan with interest over a fixed period—usually 25 or 30 years in Canada.
Current Mortgage Rates in Calgary
As of July 2025, mortgage rates in Calgary are hovering around 5.2% for a fixed 5-year term, while variable rates are slightly lower. These rates can change based on economic trends, inflation, and your credit score.
Factors That Affect Your Mortgage Approval
- Credit Score: Higher credit scores usually result in lower interest rates.
- Income & Debt: Lenders evaluate your income versus your debts.
- Down Payment: The minimum is 5% for homes under $500,000 in Canada.
- Employment History: Stable income is key for approval.
Using a Mortgage to Invest in Calgary Real Estate
With Calgary’s steady growth and affordable housing compared to cities like Toronto or Vancouver, many buyers use mortgages to invest in new homes in Calgary, including townhomes and detached homes.
Helpful Mortgage Resources
Final Thoughts
Whether you're a first-time homebuyer or upgrading to a larger space, a mortgage is your gateway to homeownership in Calgary. Work with trusted lenders, compare mortgage rates, and consider seeking help from a mortgage broker to get the best deal. The city’s market remains attractive, especially with various upcoming projects in Calgary.
Sources
- Nesto.ca – Current Calgary Mortgage Rates (July 2025)
- Ratehub.ca – Best 5-Year Fixed Mortgage Rates in Calgary
- Nerdwallet – Alberta Mortgage Rate Comparison
- Canada.ca – Minimum Down Payment Rules
- Canada.ca – Understanding the Mortgage Process
- MortgageApplyOnline – Calgary Mortgage Guide
- ATB Financial – Home Buying Guide for Alberta
