What you should ask your lender:

● What is your current rate for my situation?

● Is this rate fixed for the term or can it change?

● How long is the term (e.g., 1 year, 5 years) and how does it impact the rate?

● Can I lock in today’s rate, and if so, for how long?

Tip: Lenders often have different products — knowing your options will help you choose the one that matches your needs.

Your credit score has a significant impact on your mortgage approval and the interest rate you’ll receive. What you should ask for:

● A review of your credit report to ensure there are no errors.

● Guidance on how to improve your score if needed.

● Information on how your credit affects the type of mortgage you can qualify for.

● Fixed rate: The interest rate stays the same for the entire term — predictable payments.

● Variable rate: The interest rate can go up or down based on the lender’s prime rate — payments or interest portions can change. 

You should ask your lender to show you scenarios of how each would affect your monthly payment over time.

Lenders may vary in their timelines.  You should ask:

● Once I submit documents, how soon will I know if I’m approved?

● What can I do to speed up the process?

This will help you avoid delays when you find the right home.

Buyers are required to provide several documents during the pre-approval process, including but not limited to:

● Proof of income (pay stubs, tax returns)

● Employment verification

● Bank statements showing assets and savings

● Identification documents

Pre-approval is a process by which a lender assesses a borrower's financial situation to determine how much they are willing to lend. This involves an analysis of income, credit history, debt levels, and overall financial stability.

Pre-approval typically lasts between 60 to 120 days, depending on the lender. Buyers should be aware that factors influencing their financial situation during this period can affect their final approval. Always check with your broker to see what timeline you are working with.

Having pre-approval in hand signals to sellers that a buyer is serious and financially capable of making an offer. This can be particularly advantageous in Calgary’s competitive real estate market, where multiple offers on properties are a common occurrence. If you are pre-approved, you have a significantly higher chance of your offer being accepted. If you do not have a pre-approval in place before making an offer on a home, there is a significant risk that the deal will fall apart due to financing issues. You will have to rush the process, often leading to disaster due to hiccups along the way. Getting everything in order saves a lot of time, stress and disappointment in the end!

Over the past 15 years, Jason has transitioned from major banks to home builders to brokerages of all sizes. Let’s just say he’s got the experience, with the care and expertise of a specialized professional - especially when mortgages are the topic. Jason has always set the precedent that he is with his clients “for the life of their mortgage” - supporting his clients through all their many life changes. First Foundation seemed like a natural fit to Jason, as he was drawn to the company’s core values of Honesty, Loyalty, Leadership, Choice, and Consistency.

Throughout Jason’s career, he has consistently taken the approach of listening to each client’s unique situation, providing tailored advice to match their needs, and then applying the best-fit solution. With a diploma in Applied Financial Services and years of experience in banking and mortgages, Jason brings a strong set of skills to assist clients with the home buying process, with the goal of always helping them achieve home ownership.

• Home Purchase Mortgages - Tailored options for:
  • First-time homebuyers
  • Move-up buyers
  • Property investors
• Mortgage Renewals and Transfers - Guidance for Renewing or Transferring Existing Mortgages
• Mortgage Refinancing - Solutions to:
  • Access home equity
  • Consolidate debt
  • Secure better terms
• Home Equity Lines of Credit (HELOCs): Flexible options for accessing your home’s equity.
• New-to-Canada Mortgages: Financing Solutions for Newcomers Establishing Credit in Canada.
• Alternative Lending Solutions - Including:
  • Private mortgages
  • Options for unique financial situations
• Construction Financing - Customized financing solutions for building new homes or major renovations, offering flexibility and support through each stage of your construction project.
• Commercial Financing - Specialized financing for purchasing or refinancing commercial properties, designed to meet the needs of business owners, investors, and developers looking to expand or enhance their commercial ventures.
• First-Time Homebuyer Program – Resources and guidance for first-time home purchases.
• Business Owner Solutions – Financial and insurance solutions for business needs.
• Self-Employed Mortgage Solutions – Flexible options for self-employed individuals, including:
  • Income verification alternatives
  • Custom repayment structures
• Wealth Accumulation Program – Long-term strategies for high-net-worth clients, including:
  • Real estate investments
  • Private equity options
  • Managed portfolios

We build strong and rewarding relationships by being loyal and supportive to our clients, our colleagues, and our community. We choose to be honest with clients, partners, and colleagues. This is a must that can never be compromised. We strive for consistency in our approach so that all clients can enjoy the same great experience. First Foundation’s mission is to help people own valuable assets, grow in wisdom and wealth, and protect themselves and their loved ones. We have successfully worked with thousands of people over the years, helping them get pre-approved for their own mortgages, whether for personal use or investment in Calgary and the surrounding areas.

Our team's strong track record, client testimonials, and industry awards speak volumes about our commitment to excellence. We consistently rank among the best mortgage broker teams in Calgary, ensuring you receive high-quality service and expertise throughout your pre-approval experience. Please review some of our work through the link below. 

Jason Dodd: https://www.firstfoundation.ca/about/testimonials/#content

Jason's business number, which can be reached by text message or phone call, is 403-815-0565. Alternatively, you can reach him by email at  [email protected]. You can view Jason's website through this link: https://www.firstfoundation.ca/about/team/jason-dodd/.