New to Canada Family Purchases their First Home in Calgary After Relocating from Quebec, Only 6 Months on the Job
Mortgage Snapshot
Canadian mortgage solutions vary widely depending on your financial profile, credit history, and the type of property own. Understanding these options is crucial to making an informed decision.
Purchase Price: $200,000
Mortgage Amount: $18,160
Property Type: Condominium
Mortgage Term: 5 Years
The Borrowers' Goal
After relocating from Quebec to Calgary six months earlier, the borrowers were ready to put down roots and purchase a family home. As newcomers to Canada with one borrower recently starting a new job and the other staying home to care for their child, they wanted a mortgage solution that would allow them to provide long term stability while remaining within their budget.
Their goal was to purchase their first home in Calgary and begin building equity, all while navigating the mortgage process as newcomers to Canada with a limited employment history in Alberta.
The Challenge
Every mortgage application is unique. In this case, some of the factors we needed to navigate included:
Landed in Canada less than 2 years ago
Newly relocated from Quebec
6 months employment in Alberta
Single income, spouse is homemaker
Limited credit history
Declined by 3 brokers & bank
Our Solution
After reviewing the available lender options, we developed a strategy that addressed the borrowers' situation and secured financing that met their needs.
Getting application submitted immediately
Gathering and reviewing all documents required
Comparing available mortgage options ahead of time
Understanding employment situation
Uncovered additional income
The Outcome
Verified the borrowers previous work experience. Confirmed borrower receives Canada child benefit income. Application was placed under lenders' New to Canada program.
Approval Summary
Approval Time: 4 Business Hours
Approved Mortgage Amount: $189,114
Property Location: Airdrie, AB
About Big Springs, Airdrie, AB,
Big Springs is one of Airdrie's most established communities, offering an affordable and family friendly lifestyle just minutes from shopping, schools, parks, and major commuter routes. Located in southeast Airdrie, the neighbourhood is known for its mature trees, spacious lots, and welcoming atmosphere, making it a popular choice for first time home buyers, growing families, and investors. Its convenient location near QEII Highway provides easy access to Calgary, making it ideal for commuters.
Residents enjoy access to numerous parks, playgrounds, walking pathways, sports fields, and nearby recreational amenities. The community is just minutes from Genesis Place, one of Airdrie's premier recreation centres, offering fitness facilities, swimming pools, arenas, indoor fields, and year round programs for all ages. Families also benefit from several nearby schools and convenient shopping options, making everyday errands quick and accessible.
Big Springs features a variety of housing styles, including detached homes, townhomes, and manufactured homes, providing options for a wide range of budgets and lifestyles. Its combination of affordability, established streetscapes, and strong sense of community continues to attract buyers looking for value without sacrificing convenience. Local residents frequently highlight the neighbourhood's mature landscaping, walking paths, and friendly atmosphere as reasons they enjoy living in the area.
Whether you're purchasing your first home, upsizing, downsizing, or investing in Airdrie real estate, Big Springs offers an attractive balance of affordability, accessibility, and community living within easy reach of both Calgary and the many amenities Airdrie has to offer.
Mortgage Tips for Buyers in Airdrie
Some buyers may benefit from
Credit optimization
Understanding lender qualification requirements
Working with an experienced mortgage broker can help identify suitable options across multiple lenders.
New to Canada and Thinking of purchasing a new home?
Whether you're purchasing your first home, upsizing, investing or refinancing, its important to understand your options.
Disclaimer
The mortgage approval scenario presented in this article is based on a real client experience; however, certain details may have been modified or generalized to protect client privacy. This mortgage approval example is provided for informational purposes only. Individual results will vary based on each borrower's financial situation, lender requirements, and market conditions. Approval terms and rates are not guaranteed.
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