There are a lot of things to think about when you're making plans to purchase a new Calgary home but don't forget about the closing costs once you have your down payment saved. You'll need to make sure that these costs are covered as well. For the most part all of these fees need to be paid legally in order to make a home purchase so you'll have to budget them into your costs along with the initial down payment.
If you're planning on borrowing at least 75% of the purchase price of the home the lender will ask for mortgage insurance.
While this is not a necessity,…