No Down Payment Mortgages

Yes these still exist! Renting year after year can get exhausting, and it may seem like there's no end in sight because after all your bills you still have to save for a down payment. Good news is there is one program left if you do not have a down payment. Contact us today and we will let you know the ins-and-outs of this no down mortgage and what home price you might qualify for, you will be pleasantly surprised. The costs are minimal, the process straight forward, and we will even place you with a major bank at the same we arrange your down payment . Discover your options today!

This programs also allows first or multiple time homebuyers to purchase a home and own it outright with a standard mortgage at today's home prices. You no longer have to sit, wait, and watch home prices in Alberta climb higher. We have the affordable solution for owning a home sooner than expected.

No Down Payment Mortgages - Genworth Borrowed Down

Genworth is making homeownership easier for home buyers in Alberta with standard term mortgages available for the borrowed down. As these mortgages are insured by them, the mortgage lender is able to offer the no down payment saved mortgage at a fully discounted rate. These mortgages are 100% safe and available on existing homes across Alberta.

Benefits of owning today

Renting is fine for the short term, however over the long term one is missing out on home price increases at the same time they are paying off their landlord's mortgage.

It can take the average person in Alberta two to four years to save up the 5% down payment and during that time home values can increase, sometimes substantially. Here's a comparison on the cost of waiting and the cost of the 0 Down Payment Mortgage in Alberta.

No Down Payment Mortgages

Wait and Save

  • - Target Purchase Price: $300,000
  • - 5% Down Payment: $15,000
  • - Save $625 per month for 2 years
  • - Home Price increase 3% per year
  • - Value of home at end of the two year savings: $318,000
Cost of Waiting: $18,000 ($318,000 Actual purchase price less $300,000 of what it costs 2 years prior)

No Down Payment Now

  • - Target Purchase Price: $300,000
  • - Own now with Flex Down
  • - Interest on down payment over 2 years: $1800 approximately* OAC
  • - GE Flex Down Cost: $600
Cost of No Down Payment: $2400 ($1800 plus $600 GE - these amounts are "not out of pocket at the time of purchase")

Depending on your situation the No Down Payment Mortgage - Genworth Flex Down may make sense for you. Apply today to see if you qualify!


One Minute Application

I am planning to with an estimated purchase price or value of . My approximate down payment is of the purchase value and my down payment is .  I am comfortable / or budgeting a monthly mortgage payment of around .

I have worked in my current employment for and I am earning a of
$ per .

I would say my credit score and history is


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No Down Payment Saved Mortgages

Alberta home prices and mortgage amounts continues to rise steadily. And with the recent expansion in Northern Alberta that pace of growth isn't expected to slow. Home builders and the resale market are struggling somewhat to keep up with the demand.

Residential listing activity on the Edmonton Multiple Listing Service® (MLS®) increased 7.3% and overall sales increased 24% in 2013. As such the average selling price fora single family dwelling in Edmonton jumped 6.30% while condominiums increased 3.20%.

We are the local experts in no down payment mortgages for Alberta. Contact us today at 587-400-9699.

Alberta Mortgage Source

6328 104 St
Edmonton, AB T6H 2L1
P: 587.400.9699 | Message Us | Contact Calgary

No Down Payment Mortgage Review


"I found a home in the neighborhood I always planned to move too. Had I waited I would have missed out. "

- Jackie and Steven O.

No Down Payment Mortgage Review


"Thank you thank you for helping me! I will tell my friend to use you too!"

- Terri H.

No Down Payment Mortgage Review


"That was great, I really appreciate you guys educating me on my options and approving me with no down"

- Lee S.

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Current Mortgage Rates: Our mortgage interest rates are subject to change without notice at any time. Some rates may be subject to minimum credit score O.A.C. If you have any questions regarding the rates offered please don't hesitate to contact us at 780-504-7024 or 1-866-690-7704.

Mortgage Rates Demystified

Current Mortgage Rates

  • 5 year No Down Mortgage5.09%
  • 5 Year Quick Close Mortgage5.09%
  • 5 Year Variable Closed6.29%
  • 3 Year Closed Mortgage5.99%
  • Home Equity Line of Credit7.35%
1 year fixed Closed Term5.99%
1 year Fixed Open Term6.50%
2 year Fixed Closed Term5.84%
3 year Fixed Closed Term5.99%
3 year Variable Closed Term6.55%
4 year Fixed Closed Term5.69%
5 year Fixed Closed Term5.09%
5 year Variable Closed Term6.45%
5 year Quick Close Fixed Sp5.09%
5 year Fixed Closed Builder6.39%
Open Home Equity Line7.40%
Click for more rates