Buy With Zero Down
How Calgary buyers get into a home without savings for a down payment
Can You Buy a Calgary Home With Nothing Saved?
The honest answer: a purchase in Canada needs at least 5% down. But that 5% does not have to come out of your own savings account, and that is where most people get stuck unnecessarily.
It Is Not "Do You Have It" — It Is "Where Does It Come From"
On a $400,000 Calgary home the minimum down payment is $20,000. Lenders care that the money is there and that it is properly documented. Several of the ways to get there do not involve years of saving.
Four Routes Worth Knowing
What Does Not Change
However you fund the down payment, you still have to qualify — and at the stress test rate, not the rate you will actually pay. If the down payment is borrowed, that payment counts against you. Anyone who tells you otherwise is selling something. Worth knowing before you fall for a listing.
Find Out Which Route Fits You
Which of these works depends on your income, your debts and whether family can help. Tell us roughly where you stand and we will point you to a mortgage professional who can tell you what is realistic — before you start looking, not after.
