New attending buying
a home in Calgary?
A new Calgary attending can qualify on a signed contract before the first paycheque, and Alberta charges no land transfer tax, which keeps closing costs unusually low.
The short answer.
A new attending physician in Calgary can qualify for a mortgage on a signed staff contract before the first attending T4, typically $1.5M or more. Alberta charges no land transfer tax, only small registration fees, so closing costs are far lower than Ontario or BC, and incorporating later allows corporate-income qualification for an upgrade.
Buying on a signed contract.
A new attending does not need two years of T4 history. A physician program accepts a signed staff contract as qualifying income, so a physician starting in 90 to 180 days can close on a home using the attending income they have not yet been paid.
No land transfer tax
Incorporation and the move-up.
Many Calgary attendings incorporate within the first year or two. Once incorporated, corporate-income qualification reads corporate revenue and dividends rather than a modest T4 salary, typically lifting capacity by 50 to 80 percent for a later move-up purchase.
Questions doctors ask.
All guidesCan a new attending buy a home in Calgary before the first paycheque?
Yes. A physician program accepts a signed staff contract as qualifying income, so a new Calgary attending can close on a home before the first attending T4, typically qualifying for $1.5M or more.
Does Calgary have a land transfer tax?
No. Alberta charges no land transfer tax, only modest land title and mortgage registration fees, so closing costs are far lower than in Ontario or BC.
Should a Calgary attending incorporate before buying?
Not necessarily for the first purchase, which can run on the signed contract. Incorporation helps most for a later move-up, where corporate-income qualification lifts capacity by 50 to 80 percent.
