0 Down Mortgages
in Edmonton

If you have 0 down payment saved you can still get a mortgage and buy a home in Edmonton

Living in Edmonton can be costly, which means saving up for a 5% down payment in order to buy your own home is a difficult task. Fortunately, you can access a flexible down payment mortgage program that requires 0 down payment in order to obtain a mortgage.

Yes, these are actually still available! As Edmonton’s leading experts in 0 down payment mortgages, we would be happy to speak to you about your options with this program. Contact us today!

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0 Down Mortgages for Homes in Edmonton

So what kind of home do you qualify for in Edmonton? Use our 0 down payment mortgage pre-approval calculator to determine your home purchase price range. If you enter the correct numbers for your income and debts, the calculator will have a very close estimate, so be sure to talk to us if you aren’t sure what these numbers are.

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How 0 Down Mortgages work in Edmonton

Just like a standard mortgage, a 0 down payment mortgage in Edmonton operates with all the same payment privileges and great rates. Two additional requirements differentiate it from a regular mortgage: the homebuyer must have good credit and excellent income.

Where does the 0 down payment come from?

This criteria is vital because a borrowed source provides the 5% down payment, rather than the traditional practice of the homebuyer supplying it. The source may be a loan or a line of credit that we help set up if you don’t already have one available. This flexible down payment program offered by Canada Guaranty permits borrowed sources only in the case that the applicant can provide great income and credit in place of a down payment.





Moving into your own home way ahead of time is the major benefit of a 0 down payment mortgage. It means that you can skip years of saving, the most challenging aspect of buying a home, and move in right away. In Edmonton, where the down payment required is 5% of $373,174, this is no small benefit. However, there are two additional costs associated with the program. First of all, the mortgage interest rate is a little higher, although still lower than the local bank can usually offer. And secondly, interest is charged on your borrowed down payment. Nonetheless, many have found that these two costs are outweighed by the financial and personal benefits of a 0 down payment mortgage, and often by a significant amount.

If you are interested in buying a home in Edmonton with 0 down payment but your income or credit is poor, contact us anyway. A mortgage specialist would be glad to listen to your personal situation and assist you in improving it.

Curious to compare the costs of this program? Click here to visit our 0 Down Mortgage Cost Calculator

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Brokers in Edmonton offering 0 Down Mortgage Solutions

Alberta’s capital city has 899,447 inhabitants and consequently thousands of renters who likely have 0 down payment but would love to own their own home. To address this, we have many licensed Invis mortgage brokers in Edmonton who are sharing their expertise in 0 down payment mortgages. Feel free to learn more about your own options by contacting us today!