Zero Down Payment Mortgage

If you have zero down payment saved there are mortgages options for home buyers in Alberta. 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 Flex Down Payment mortgage programs still exist. Bank and branch staff may say they don't - but they are incorrect!

These existing programs allow a first or second time home buyer 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 Alberta climb higher. We have the affordable solution for owning a home sooner then expected.

Zero Down Payment - CMHC Flex Down

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 $200 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 Alberta.

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 Alberta 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 Alberta.

CMHC Flex 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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Zero Down Mortgages in Alberta

Strong and stable demand for housing in Alberta is fueling the slow creep upward of home and mortgage amounts. Good news for homeowners in Alberta, but not so good new for those waiting to get into the market as home sales are expected to remain strong in Alberta

Residential listing activity in Alberta for 2013 increased 2% while overall sales increased 5% in 2013. While those numbers are good, the truth of the strength of the mortgage and housing market is reflected in the 8% average selling price for single detached homes and condominiums.

We are the local experts in zero down mortgage payments in 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

Zero Down Payment Mortgages Review


"It was great working with Alberta Mortgage Source and it was even better to find out we could buy a home with zero down payment saved"

- Kelli and John T.

Zero Down Payment Mortgages Review


"I just wanted to let you know what a great job Terry did for us. First-time buying isn't the easiest but he helped me along great!"

- Joan A.

Zero Down Payment Mortgages Review


"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.

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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%
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