Buying a house with no down payment?

[SunnyArms]

I'm a mom-to-be so my husband decided that we move to a house that isn't in a tower. Also, the condo unit is too small for the incoming baby. We've been filling up the spare room with baby things and it looks like it won't be enough. We're a little tight on a budget right now but based on what I've read from this article, buying a house with no down payment is actually plausible. I have no clue how it actually works so I turn to you. Have any of you done this before? How did you go about it?

From reading the article, it looks like the down payment is given as a loan

I suspect that most posters on here aren't Canadians and wouldn't understand their market or laws. Sorry.

Your plan is risky, and honestly I'm surprised it's possible after the last financial crisis. If you have no wiggle room in your budget, what happens if you have a major house expense like you need a new roof? I don't know where you are but the housing market here (SW UK) is absolutely nuts right now, and if you buy a house with no downpayment and the value goes down even a little, you'd be underwater on the mortgage and unable to sell if needed.

Could you rent somewhere a little more to your liking while you save up some cash?

I think you need to clarify which country you are in? The article you linked to is Canadian and you say mom and down payment so that suggests you do no live in the U.K.
most people here are in the U.K. so you might need to specify in your thread title that you want advice from people in Canada!
The U.K. market is crazy and during most of the pandemic you needed a minimum of 15% deposit in order to get a mortgage from the bank. Even now 100% mortgages are extremely rare and I don’t think if you are just a normal person with no savings that a bank would lend on those terms.

Is this just to make us click the link?

Canadian here, in Alberta. Throughout Canada you have to take out mortgage loan insurance if your deposit is less than 20%.

The system suggested by the OP basically involves taking out a loan for the 20% and removing the need for the insurance. It’s complicated as the loan can’t be from the same lender. I’d imagine the interest rate would be fairly hefty. They also want a high credit score and good credit history.

@RickiTarr
First and only post by OP so.......