We Will Help Navigate the Flex Down Program in Edmonton & surrounding areas in ALBERTA

Sometimes it is difficult to save for the minimum down payment of 5% especially in a market where the house prices are higher. So in these situations the mortgage insurance companies have a product to help you get into a home sooner, rather than later.

At Trilogy Mortgage Corporation O/A The Mortgage Centre, we have an option that might be perfect for you. It is called the flex down program. In Alberta, this is where you can borrow your down payment from either a line of credit, or loan, or credit card, or a gifted down payment from a non-immediate family member. An immediate family member is a sibling, a parent or grand-parent. 

Finance Your Mortgage Down Payment

Edmonton home prices and mortgage amounts continue to rise steadily. Our zero down mortgage in Edmonton allows you to arrange financing for the down payment, so you don’t have to have it all saved up at one time. At our office, we can do everything for you in one step! Usually, your first step toward financing your mortgage down payment would be to arrange a loan or line of credit, but our mortgage brokers and agents can get one approved for you and then finish the financing process for you as well.

When you use a loan for the down payment on your new home, you must have good credit. Repayment of the borrowed funds must be included in your list of debts and you must be able to handle the repayment of that as well as the mortgage payment.

There are banks in Canada that do take advantage of this program, but it is primarily offered through mortgage insurance companies.

An Example

Mary and Ben are a young couple and are starting to earn good salaries through their work, but have not been able to save for all of a down payment yet, and the market is a buyer’s market. They would like to take advantage of the current price the homes are for sale in their area.

They have decided to contact a mortgage agent to get pre-approved so they know how much of a house price they can afford.

They found out that they could afford a purchase price of $400,000 with 5% down payment and they have RRSP’s of $10,000. Their parents are not in the situation to gift them any monies to put towards a down payment. Mary and Ben had their mortgage associate apply for a line of credit for them and they were approved for a $10,000 line of credit, and the mortgage agent included that payment on the line of credit in their list of debts when they were pre-approved for the $400,000 home.

Ben and Mary went out and purchased their home of $400,000 using $10,000 from their RRSP’s and $10,000 from their line of credit, taking advantage of the mortgage insurance “flex down program.” They were approved through a bank that used the program and got a great mortgage interest rate!

Benefits of Owning Today

There are many benefits of owning a home today, instead of waiting for years when you finally have the down payment saved up in full. The main benefits of owning a home include:

  • Build equity and credit by paying on time
  • Costs are more predictable than renting 
  • Interest and property tax of your mortgage is a tax deduction

If you would like to get pre-approved for a zero down mortgage in Edmonton, click here to apply online.


Trilogy Mortgage Corporation O/A The Mortgage Centre

#6 4428 50th Ave.

Bonnyville, AB  T9N 1B6


Monday – Friday:
9:00AM – 5:00PM
Tuesday & Thursday:
Evening appointments available

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