Zero Down Payment Mortgage Edmonton

If you have zero down payment saved you can still obtain a mortgage and buy a home. There is confusion in the market due to recent changes in Federal legislation eliminating bank cash back mortgages for zero down payment, but enhanced Zero Down/Flexible Down Payment mortgage programs still exist. Bank and branch staff may say they don't exist - but they are incorrect!

These mortgage programs allow a first or multiple time homebuyer to purchase a home and own it outright with a standard mortgage at today prices. Prospective home buyers no longer have to sit, wait and watch home prices in Edmonton climb higher. We have the affordable solution for owning a home sooner than expected.

Zero Down Payment Saved - CMHC Non-Traditional

Incredibly affordable, under this program you receive a fully discounted rate and it's often below what the bank branch's rate offer. The additional cost of this program through CMHC amounts to $250 per $100,000 borrowed, this is charged once, and appied to the balance of the mortgage. The mortgages are 100% safe as they are backed by the federal government and available on existing homes across Edmonton.

Benefits of owning today

While owning your own home today and not paying rent (and your landlords mortgage) is the most obvious benefit. The not so obvious benefit is not having to wait and watch home prices increase.

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

CMHC Flexible Down

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 cost 2 years prior)

Zero Down Now

  • - Target Purchase Price: $300,000
  • - Own now with Flex Down
  • - Interest on down payment over 2 years: $1800 approximately* OAC
  • - CMHC Flex Down Cost: $600
Cost of Zero Down: $2400 ($1800 plus $600 CMHC - these amounts are "not out of pocket at the time of purchase")

Depending on your situation the Zero Down Payment Mortgage - CMHC Flex 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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Edmonton and Zero Down Mortgages

Edmonton home prices and mortgages 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 zero down mortgage payments for Edmonton. 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

Zero Down Payment Mortgages Edmonton


"Just wanted to say thank you for all your work. We really had no clue that we could still buy with zero down."

- Lana and Peter G.

Zero Down Payment Mortgages Edmonton


"I appreciate the fact that I don't have a landlord anymore and can paint my walls whatever colour I want now. LOL."

- Rhandi A.

Zero Down Payment Mortgages Edmonton


"Hey Thank you for getting me into a house. I finally have some space and thanks also for the low rate, I wasn't expecting that."

- Arthur D.

Mortgage Payment Calculator

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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