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.
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
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