Turning Point Financial

💻 Red Deer's business community. Entrepreneurs, contractors, trades, and professionals building something on their own terms.

Self-employed mortgages are something our team works with regularly. If you've been told qualifying is complicated, let's have an honest conversation about what's actually possible.

Contact us at turningpointfinancial.ca or send us a DM.
https://www.turningpointfinancial.ca/

💼 Self-employed in Central Alberta? You can absolutely qualify for a mortgage. But the process looks different — and having the right team in your corner makes all the difference.

THE CORE CHALLENGE:
Banks assess self-employed income using your Notice of Assessment — the number after all your business deductions. For many entrepreneurs, that number significantly understates what you actually earn.

WHAT'S ACTUALLY AVAILABLE:
✅ Traditional qualification using your NOA income — if the numbers support it
✅ Stated income programs — declared business income supported by bank statements
✅ Alternative lender programs with more flexible income assessment approaches
✅ Strong down payment strategies that work alongside your income picture

TWO YEARS OF SELF-EMPLOYMENT is what most lenders want to see. Good credit and a meaningful down payment help significantly.

OUR APPROACH:
We've worked with self-employed clients throughout Central Alberta for decades — contractors, trades, small business owners, consultants, professionals. We know how to present a self-employed file to the right lender.

Contact us at turningpointfinancial.ca or send us a DM — let's review your situation.
https://www.turningpointfinancial.ca/

🍂 Fall in Red Deer. The leaves turning on the residential streets, the city settling into its favourite season.

This is the time of year when the real estate market tends to see another wave of activity before winter — and when prepared buyers make their move.

Contact us at turningpointfinancial.ca or send us a DM.
https://www.turningpointfinancial.ca/

🚪 A bank's "no" is not a final answer. It's information about what that particular institution's product set can accommodate — which is a narrow slice of what's actually available.

Our team lead Arlene has a saying: "It's just the difference between experience and inexperience."

We once had a client referred to us after being told by both their bank AND another mortgage broker that the property they wanted to purchase couldn't be financed. They were dejected and came to us skeptical.

After a deeper review of the client's finances and some minor restructuring, we got them into their home. The client called it "magic." It isn't magic. It's knowing where to look and having the relationships to get there.

HERE'S WHY DECLINES HAPPEN:
Credit score issue: Different lender tiers exist for different credit profiles.
Income documentation issue: Stated income programs and alternative documentation methods exist.
Property type issue: Specialist lenders handle properties that don't fit conventional guidelines.
Debt ratio issue: Sometimes minor restructuring changes the calculation entirely.

Contact us at turningpointfinancial.ca or send us a DM — if you've been told no, we'd love to take a look.
https://www.turningpointfinancial.ca/

🌳 Red Deer's parks and green spaces. One of the things that makes this city genuinely livable for families at every stage.

This is what homeownership in Central Alberta makes possible — a community you actually live in, with space to breathe and room to grow.

Contact us at turningpointfinancial.ca or send us a DM.
https://www.turningpointfinancial.ca/

🏡 Buying your first home in Red Deer or Central Alberta? Here's exactly what to expect — step by step.

📍 STEP 1: FREE CONSULTATION WITH OUR TEAM
We review your income, debts, down payment, and goals. You leave knowing your borrowing range.

📍 STEP 2: PRE-APPROVAL
We submit your application to the lenders best suited for your situation. You receive a rate hold and a clear maximum.

📍 STEP 3: SHOP WITH YOUR REALTOR
Your pre-approval shows sellers you're serious. In Red Deer's current market, the $300K to $500K range moves quickly.

📍 STEP 4: ACCEPTED OFFER
We finalize the mortgage application and coordinate the appraisal if needed.

📍 STEP 5: FINAL APPROVAL AND CLOSING
The lender issues final approval. Your lawyer handles title transfer. You get your keys.

💡 ALBERTA FIRST-TIME BUYER ADVANTAGES:
No provincial land transfer tax.
FHSA: up to $40,000 in tax-free savings for a first home.
RRSP HBP: up to $35,000 per person, $70,000 as a couple.
30-year amortization: now available for first-time buyers on insured mortgages.

Contact us at turningpointfinancial.ca or send us a DM to kick off Step 1.
https://www.turningpointfinancial.ca/

🔑 Closing day. The moment all the paperwork, all the planning, and all the conversations were working toward.

Our team has helped thousands of Albertans reach this moment. And every single one still gives us the same feeling.

Contact us at turningpointfinancial.ca or send us a DM — your moment is out there. Let's go find it.
https://www.turningpointfinancial.ca/

💸 Your down payment is only part of the cash you need at closing. Closing costs are real, they add up, and most lenders want to see that you have them set aside. For insured mortgages, budget at least 1.5% of the purchase price beyond your down payment.

HERE'S WHAT TO PLAN FOR:
🔍 HOME INSPECTION: $400 to $600. Worth every penny.
📊 APPRAISAL FEE: $300 to $500. Some lenders require it.
⚖️ LEGAL FEES: $1,000 to $2,000 for a lawyer or notary.
🏠 PROPERTY INSURANCE: Mandatory — your lender won't release funds without it.
📋 TITLE INSURANCE: $150 to $400. Protects against fraud, survey errors, and title defects.
🚚 MOVING COSTS: $500 to $3,000 or more.

💡 ALBERTA ADVANTAGE:
Alberta does not have a provincial land transfer tax — a meaningful saving compared to buying in BC or Ontario. This is one of the genuine financial benefits of buying in this province.

Contact us at turningpointfinancial.ca or send us a DM for a personalized closing cost estimate.
https://www.turningpointfinancial.ca/

🏡 Open house season in Red Deer. More inventory, more options, and more time to be deliberate than buyers have had in recent years.

Red Deer's housing market in 2026 offers something that felt rare for a while — the ability to actually take your time, write conditions, and make a thoughtful decision.

Contact us at turningpointfinancial.ca or send us a DM — get your pre-approval in place before you start attending opens.
https://www.turningpointfinancial.ca/

📊 Fixed or variable? It's one of the most common questions we get — and there's no universal right answer. Here's how our team thinks about it with clients.

🔒 FIXED RATE: Your rate and payment are locked for the full term. Complete predictability. No surprises if the Bank of Canada moves. Best for clients who value certainty or whose peace of mind depends on knowing exactly what the payment will be.

Watch for: Fixed rates typically start higher than variable. Breaking a fixed mortgage early can result in a very large Interest Rate Differential penalty — sometimes tens of thousands of dollars.

📈 VARIABLE RATE: Your rate moves with the Bank of Canada's prime rate. Currently, the BoC overnight rate is 2.25% and the prime rate is 4.45%. Best for clients with cash flow flexibility who won't be rattled by potential payment adjustments.

Watch for: Payments can increase if rates rise. Budget accordingly.

HOW WE HELP:
We don't have a preferred answer. We spend time understanding your income, your plans, your risk tolerance, and your timeline — then we recommend what genuinely fits.

The next Bank of Canada announcement is September 2, 2026.

Contact us at turningpointfinancial.ca or send us a DM — let's talk through your situation.
https://www.turningpointfinancial.ca/