Your First Home, Done Right
First-Time Home Buyers in Calgary Southwest
Navigating your first mortgage can be overwhelming. Serving Calgary Southwest with access to 60+ lenders.
Calgary Southwest Market Snapshot
$680,000
Avg. Home Price
$400,000 - $2,500,000
Price Range
Premium urban to suburban mix
Area Type
SW
Region
First-Time Home Buyers in Calgary Southwest
Buying your first home in Calgary Southwest is an exciting milestone. With an average home price of $680,000 and a price range spanning $400,000 - $2,500,000, this premium urban to suburban mix offers diverse options for first-time buyers at different budget levels.
Jay works extensively with first-time buyers in Calgary Southwest, helping them navigate down payment requirements, government programs like the FHSA and Home Buyers' Plan, and the mortgage stress test. For a home at $680,000, you'll typically need a minimum down payment of 5-10% depending on the exact price — Jay runs these numbers for you upfront so there are no surprises.
Calgary Southwest offers distinct advantages for first-time buyers: Premium inner-city living, Marda Loop shopping district, and Fish Creek Park access are all factors that contribute to long-term value and quality of life. Jay helps buyers evaluate not just the mortgage qualification, but whether the community aligns with their lifestyle and financial goals.
First-time buyers in Calgary Southwest benefit from Alberta's absence of provincial land transfer tax, saving thousands compared to similar purchases in Ontario or BC. Combined with federal programs and access to 30-year amortizations on new builds, homeownership in Calgary Southwest is more accessible than in many other Canadian markets. Jay walks you through every step — from pre-approval to closing — in plain language with zero pressure.
What You Get
Mortgage Tips for Calgary Southwest
💡 Higher price points may require 20%+ down in premium areas
💡 Infill properties in Altadore/Marda Loop appreciate strongly
💡 Basement suites can qualify as rental income with proper permits
Frequently Asked Questions
How much down payment do I need for my first home in Calgary Southwest?+
The minimum is 5% for homes up to $500,000. For homes between $500,000 and $1,499,999, it's 5% on the first $500,000 and 10% on the remaining balance. For example, a $600,000 Calgary home requires a minimum down payment of $35,000. Properties at $1.5 million or above require 20% down.
What is the FHSA and how much can I save for a house tax-free?+
The First Home Savings Account (FHSA) lets first-time buyers contribute up to $8,000 per year, with a $40,000 lifetime limit. Contributions are tax-deductible like an RRSP, and withdrawals for a qualifying home purchase are completely tax-free. It can also be combined with the Home Buyers' Plan.
Can I use my RRSP for a down payment in Alberta?+
Yes. The Home Buyers' Plan (HBP) allows first-time buyers to withdraw up to $60,000 from their RRSP tax-free for a home purchase (increased from $35,000 in 2024). If buying with a partner, you can each withdraw $60,000 for a combined $120,000. Repayment begins in the second year after withdrawal.
What credit score do I need to buy a house in Canada?+
Most A-lenders require a minimum credit score of 680 for insured mortgages (under 20% down). Some lenders will go as low as 600 with compensating factors like strong income or low debt ratios. Jay reviews your full credit profile and matches you with the right lender for your score.
Ready for First-Time Home Buyers in Calgary Southwest?
Book a free strategy call with Jay. No obligation, no pressure — just clarity on your mortgage options.