Is it still possible to buy a house without down payment?

[Cocoon]

On the other post I've mentioned about crazy rent prices in my area. I was wondering if it is still possible to buy a house if you don't have down payment?

We can effort to pay a bit more then what we are paying for rent now. And obviously we would like to own a place. The only problem is, we don't have down payment. We have seen couple of show houses further from our area and I'm in love with both and was thinking it would be lovely if we could buy. Husband says "no we can't buy unless we have a decent down payment" but he is not always right

[Dreamalittledream]

I think there may be ways; but I'm not sure. We've found the best advice (and rates) from a mortgage broker. My advice; call & book a (free) consultation.

[Inspired by Reggio]

I am not sure about the rules write 'now' cause they have been getting 'stricker' again with the economy the way it is ~ but when we bought our house in 2007 first time homeowners did not need a down payment ~ we actually had 'saved' the down payment and when offered the option chose the zero down because it only made a minimal difference in our mortgage payment however the 5% we had saved up thinking we needed it allowed for wiggle room in the moving expenses and pressure on not depleting our 'savings' to get into the house sooner!

[Sandbox Sally]

We just bought a home. You require at least 5% of the purchase price for a downpayment.

[Toregone]

I bought a house less than a year ago and I did not need a down payment. Scotia Bank and one other place still offer a 0 down. How it works is you pay a higher interest rate for the first 5 years and that pays back your "down payment". After that your interest goes back to normal market rates whatever they may be at that time.

[Fun 88]

The Minister of Finance has recently increased the down payment %. Canadians personal debt is increasing more and more and he is trying to avoid a crash like the States. Can you blame him?
My husband works in the bank and he hears people wanting loans because they can't use anymore credit on their cards. The majority of these people are just shopaholics and just HAVE to keep up with the Jones!!