0 Down Mortgages
in Alberta

If you have 0 down payment saved you can still get a mortgage in Alberta

It’s true! Homebuyers in Alberta have access to the flexible down payment mortgage program offered by Canada Guaranty, which gives them the freedom to produce their mortgage down payment by borrowing it. Instead of waiting years to move into your own home, you can obtain a mortgage that is:

  • Affordable, flexible, and better than ever
  • The costs are low while the benfits are high.
  • Find out in minutes if you are eligible
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0 Down Mortgage Reviews from Alberta

"To start you guys are so great to deal with! Terry was fantastic! One of my coworkers is just in the process of getting a mortgage through you as well; so far Terry has been great for them. We are not first time home buyers; but come renewal time you may just hear from us again! Thanks for the fantastic service."

"Now that were in the house and unpacked and have painted some walls it really feels like home and looking back I am glad we made the decision to go about it this way. I feel that if I would have waited to save I would have thrown more money out the window and it could have been another 3 years before we bought."

"You guys were great to work with. You were always available to be contacted even outside of what are usually most peoples regular business hours. You made the process easy and helped me get into the home I now love and has been there for me since with looking at purchasing a second home."

for a 0 Down Mortgage in Alberta

The process for mortgage pre-approval doesn’t have to be complicated, though many homebuyers in Alberta are under the impression that it is. We can help with the necessary documents and steps in the process to pre-approve you for a 0 down payment mortgage in Alberta.

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Rates for 0 Down Mortgages in Alberta

If you live in Alberta, there are surprisingly good rates available to you for a 0 down payment mortgage. Though the lowest rates require a saved down payment, you will likely find that you have better options with a 0 down mortgage than your local bank branch. All the perks are included: you can make lump sum payments, adjust your payment frequency, and pay off your mortgage sooner with larger payments. Questions? Contact us to learn more!

4.44%
Fixed Rate
OAC. Rates subject to change without notice

The insurer for this mortgage rate is Canada Mortgage and Housing corp. and as such the mortgage lender is able to offer excellent discounted rates in Ontario.

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4.44%
Fixed Rate
OAC. Rates subject to change without notice

The insurer for this mortgage rate is Genworth Canada, as Canada’s largest private provider the No Down Payment saved mortgage rates in Ontario are heavily discounted.

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4.44%
Fixed Rate
OAC. Rates subject to change without notice

Canada Guaranty is the insurer for this Flex down, no down payment saved mortgage rate. Contact us and speak to a dedicated Ontario mortgage specialist.

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Why use a 0 down mortgage in Alberta

With home prices on the rise, especially in the last 10 years, affordability for many homebuyers in Alberta has become a real issue. The Canadian Real Estate Association reports that the price of the average home in Alberta leaped from $472,333 in 2015 to $561,896, causing the required down payment to grow from $23,000 to $28,000, it’s difficult to save a down payment when the finish line continues to move further ahead, even if your income can support the mortgage. The answer is a 0 down payment mortgage program that gives you the option of borrowing as much of the down payment as you need.

Who’s Eligible?

You must have excellent credit and a stable income in order to be eligible for the 0 down mortgage program in Alberta. If your credit score isn’t quite there, feel free to speak to one of our mortgage specialists for some tips on improving it.

What are the costs

Two further costs and two great benefits are part of the 0 down mortgage program. Firstly, CMHC requires a slightly higher premium, about $250 for every $100,000 borrowed, and it is simply added to your mortgage principal so you don’t have to pay out of pocket. The second expense is the interest on the borrowed down portion, which is more substantial. Find out what your numbers look like by using our No Down Payment Mortgage Cost Calculator!





Use our 0 Down Mortgage Cost Calculator and see what your numbers are!

What are the benefits

The advantages of going with a 0 down payment mortgage are significant. The first is time saved: you can skip years of saving and buy a home better suited to your family much sooner than expected, which can be a very important factor depending on your situation. The more measurable benefit is the equity you will acquire through home appreciation and your mortgage payments, which will now be benefitting you instead of your landlord. This amount fluctuates based on home appreciate and how long it would have taken to save a down payment, but it will likely be larger than you think. The cost calculator estimates based on a conservative home appreciation rate of 3%.

Additional Information

If you’re the type to appreciate a good video over a good read, click this link to go to our home page, scroll down and watch our informative two minute video about 0 down payment mortgages.

Click here for more information on Canada Guaranty’s program for home buyers in Alberta looking for a mortgage with 0 down payment saved.

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