Originally posted by kestra
I was actually considering this route with an investor, as I don't have 10% to put down. Can this still be an option with a fixed rate? It's definitely a buyer's market up here in Alberta. I don't want to go with a 0% down option, as my hands would to tied with shitty interest rates.
If you can get a 0% loan at this point I'd be surprised. They have really decided to only give safe loans. They probably are going to want to see about 5% down.

You can get a fixed rate but you will have PMI (Personal Mortgage Insurance) which will probably be between $100 - $300 /month depending on what you borrow.

Once you get to 20% equity in the house you can typically get PMI waived.

I had PMI on my 2nd house and after about year and a half the value of the house when up and they dropped it at my request.