Made mainly for entrepreneurs and innovators (of which Alberta has many), there are several mortgages that apply to this province’s inventive people. Not everyone fits in to the average mortgage box!

Entrepreneurs/Business Owners: Alberta’s self-employed can apply for specialty mortgages by providing proof of income. Basic earnings declared on your tax return should be adequate to apply.

Long Amortization Mortgages: The average mortgage length is 25 years, however you may choose to lower payments and plan for a longer amortization, such as 30 or 35 years.

Poor or Damaged Credit: If you have damaged credit, a new mortgage that you can prove you can afford can actually vastly improve your rating over time.

Private Mortgages: Available to those who may not meet the criteria of institutional lenders.

Vacation Property: There are specialty mortgages available for those with vacation properties or secondary homes.

Interest Only: It’s possible to work a deal with your lender where you pay interest on a certain percentage of your mortgage only. Interest only mortgages usually provide lower monthly payments.

Investment Property: Mortgages for rental or earning properties are common in Calgary, and an excellent way to earn revenue.

Home Equity Line of Credit: Your current home is actually useful capital…if implemented properly!