Zero Down Mortgages
in Alberta

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

Yes, it’s true! By using the flexible zero down payment mortgage program provided by Canada Mortgage and Housing Corporation, homebuyers with zero down in Alberta can borrow all or some of their mortgage down payment. You don’t have to wait years saving for a home, there’s a mortgage available 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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Zero 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 Zero Down Mortgage in Alberta

You can skip the confusion that usually surrounds the mortgage pre-approval process for homebuyers in Alberta and discover here what documents you need and what steps are taken to get pre-approved for a zero down payment mortgage in Alberta.

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Rates for Zero Down Mortgages in Alberta

Good news: the rates available in Alberta for zero down payment mortgages are excellent. They aren’t quite as good as the lowest rates on the market, since those are reserved for homebuyers with a down payment saved, but you’ll probably find that they’re better than what your local bank can offer you. With a zero down payment mortgage, you will also have the privilege to make lump sum payments, change your payment frequency, and pay it off faster with larger payments. 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 zero down mortgage in Alberta

Over the last 10 years, affordability has become a real concern for the average homebuyer in Alberta. Housing prices have increased dramatically, making buying a home completely out of the question for many people. For those who could keep up with these higher mortgage payments, there is still the question of the down payment, many have seen the finish line get moved further ahead just as they’ve saved a down payment. For example, the Canadian Real Estate Association reports that Alberta home prices increased from $472,222 in 2015 to $561,896, and as a result down payment requirements increased from around $23,000 to $28,000. Our solution is simple: a zero down payment mortgage program that gives homebuyers the option of borrowing all or part of the down payment.

Who’s Eligible?

Homebuyers with a great credit score and reliable income are eligible for the zero down mortgage program in Alberta. Those who don’t have excellent credit shouldn’t be discouraged, call one of our mortgage specialists for some tips on improving your score.

What are the costs

Although there are two additional costs required for a zero down mortgage, there are two benefits as well. In the first place, the CMHC premium is slightly larger, working out as a one time charge of $250 for ever $100,000 borrowed. It is simply added to the mortgage principal so you don’t have to pay out of pocket. The second charge can be more costly, the added interest on the borrowed down portion. Calculate these charges for you with our No Down Payment Mortgage Cost Calculator.





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

What are the benefits

The two factors that balance out the additional costs are time saved and equity earned. If it is important to your family to be in a house of your own, the extra years you spend in your own home may be very valuable to you. Furthermore, those years will be spent paying down your own mortgage rather than your landlord’s, as well as earning equity through home appreciation. Use our cost calculator, which estimates a conservative appreciation rate of 3%, to crunch some numbers, and you may find that the benefits outweigh the costs.

Additional Information

Why read about zero down payment mortgages when you can watch a video? Click the link, scroll down and enjoy a two minute video that will sum it all up. For more information on Canada Mortgage and Housing Corporation’s program for homebuyers in Alberta looking for a mortgage with zero down payment, click here..

Click here for more information on Genworth’s program for home buyers in Alberta looking for a mortgage with zero down payment.

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