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Edmonton 0% Down Home Buying Program

Keylo — Mon, 22 Sep 2025 19:45:50 +0000

The Complete Guide to Buying a Home in Edmonton With 0% Down

By Ryan Mracek — Realtor & Broker, Keylo.ca · Founder, BuyMyHomie.com

Edmonton rents jumped ~17% in 2024. If you’re renting a 2-bedroom, you might be paying $1,500–$1,800/mo.
For a similar monthly budget, you could own a condo — even if you don’t have a 5% down payment saved.
This guide explains how our 0% Down Program works, the real catches, and a live local example.

How the 0% Down Program Works (plain English)

Short version: we provide the down payment. You own the home from day one. The down payment is converted into an option recorded on title so we share market upside — you keep all the monthly equity you build.

We provide up to 5% down at closing.
Your name goes on title — you’re the homeowner from day one.
We hold an option to capture a share of future upside instead of a conventional payback.
Your mortgage payments build equity, just like any other owner.

This is not rent-to-own. It’s not a predatory flex-down scheme. You’re the owner. We just structure the down payment differently so you can buy now instead of saving for years.

See what you can afford in 3 seconds (just input your rent in our affordability calculator) →

Real Edmonton homes — not rent-to-own composites

Two claim-safe examples under Keylo’s 0% down program framing: a York multi-level listing at $219,999, and the original downtown condo at $195K. Eligibility and monthly carry depend on qualification — run the calculator before you assume numbers.

York multi-level $219,999 · 3 bd Downtown condo $195K · 2 bd

209 Village On The Green NW — $219,999 · MLS® E4498143 · York (near Londonderry Mall)
View live photos & 3D tour on BuyMyHomie →

Featured · Townhouse-style

Case Study — A Real $219,999 Multi-Level Home

209 Village On The Green NW, Edmonton, AB
3 bed / 1 bath — MLS® E4498143 — York (near Londonderry Mall)

This is a real active listing, not a composite. Multi-level, townhouse-style living: rooms upstairs, bonus space below, green space behind the home, and two underground parking stalls. Some listing photos may be virtually staged — always check the live BuyMyHomie page for current photos and price.

Meet Alex (illustrative)

Alex rents a 3-bedroom place in Edmonton and has little saved for a down payment. They’re tired of rent climbing and want to know if owning could work — without a rent-to-own scheme.

For qualified buyers, Keylo’s 0% down program supplies the 5% down so you can go on title and build equity. Eligibility depends on income, credit, lender, and the property — we do not claim this specific home works for every buyer until you’re qualified.

Rent vs. own (illustrative — run your numbers)

Asking rent ≠ achieved rent. City-wide Edmonton panel — not York-specific. Not an offer to rent this home. Buy column uses calculator-only until founder approves payment math.

Renting (illustrative)	Owning with 0% down (qualified buyers)
Damage deposit (typical): ~1 month rent	Down payment at closing: $0 — program supplies 5% for qualified buyers
Monthly rent + insurance: $2,200–$2,475/mo City-wide asking rent, 3-bed houses (mid ~$2,300)	Monthly carry: Depends on rate, tax, insurance & fees Run calculator →
Condo / strata fee: N/A (rental)	Condo / HOA fee: See listing — amount not verified
Equity built (5 years): $0	Equity built (5 years): Builds with each payment — Run calculator →
Equity built (25 years): $0	Equity built (25 years): Depends on appreciation & paydown — Run calculator →
Rent increases: asking rents tend to rise over time	Fixed-rate mortgage: payment stable; equity grows over time

See what you could afford in 3 seconds → Open 209 listing

Example note: Real homes vary. List price, fees, and program eligibility vary. This is not a mortgage approval or an offer to lend.

Original condo example — kept for comparison

2 bed / 2 bath condo — list price $195,000

Original example · Condo

Case Study — A Real $195,000 Downtown Condo

Address: #104, 10046 110 St, Edmonton, AB

Meet Sarah (example)

Sarah rents a comparable 2-bedroom downtown for about $2,075/month (illustrative city-wide asking-rent estimate for 2-bed condos — not this unit’s rent). She has no down payment saved, and every year her rent climbs.
With the 0% Down Program she qualifies for a mortgage, we supply the 5% down, and she moves in as the owner.

Asking-rent estimate $2,025–$2,275/mo · n=30 · as of 2026-07-16 — not achieved rent.

Quick numbers (illustrative)

Renting today: $2,075 / month → $24,900 / year (gone and rents increase each year).
Buying with 0% down: ~$1,336 / month — similar or slightly less monthly cost (landlords need a profit margin)
After 5 years: Sarah has roughly $25k–$30k in equity instead of throwing money away on rent.

Run your rent on the calculator →

Example note: We select real homes to show that each home is unique. In this case, the condo price is lower, but the fees are higher. There is no landlord profit margin.

Rent Total: $2040	Buy Total: $2100 @ 4% OAC
Damage Deposit $2000	Down Payment $0000
Rent/Insurance: $2040	Mortgage/Ins/Tax/CMHC/Legal: $1336
Condo Fee: $0000	Condo Fee: $789
Equity Built 5 Years: $0000	Equity Built 5 Years: $27,279
Equity Built 25 Years: $0000	Equity Built 25 Years: $195,000
Rent Increase Per Year: 3%	Rent – Buy 25 Year Savings: $175,590

Who Qualifies (and who this isn’t for)

This program helps people who can qualify for a standard mortgage but don’t have the down payment saved. It is not a handout.
Typical requirements:

Mortgage approval with a Tier 1 or Tier 2 lender (we vet and coach you through underwriting).
Credit score normally 650+ (each file is unique — bring documentation).
Stable income (we’ve helped hourly workers, immigrants, and business owners).

Won’t work if: recent bankruptcies, no income, or zero credit history. If you don’t qualify right now, we’ll help you get there.

Check qualification now

The Catch — and why it’s fair

Instead of repaying the down payment loan directly, the structure uses an option recorded on title.
If prices rise, the buy-back cost includes the original loan + appreciation (example: original 5% + 5% appreciation = ~10%).
If prices fall, you don’t owe us extra — the downside is on our side.

You can buy back part or all of the option once a year at market value, and you keep all value from any renovations you make. The only real trade-off is sharing upside, which is upside you didn’t have as a renter.

Rent vs Buy — Edmonton (2025 snapshot)

Renting a Home: ~$2,500+
Value of that rental: $450,000
Monthly payment difference: often only a small gap, depending on condo fees, taxes, and current mortgage rates

Just 4 steps to calculate what you can afford and look at homes: BuyMyHomie affordability calculator.

Edmonton, St. Albert, Sherwood Park. Any neighbourhood where these deals make sense.

Why this is NOT rent-to-own

Most rent-to-own setups profit when buyers fail. They often never let the tenant truly own the home, and I honestly hate them. This program was born out of H.O.M.E Home Ownership Mentoring Experts, a not-for-profit in real estate. We realized that a for-profit model can help people actually buy a home today! With this program:

You are on title from the start.
Your monthly payments build equity.
If you sell, you keep your share; if you move, you keep your built equity.

Quick Video: How 0% Down Works

More Guides:

- Is Rent To Own A Scam?

FAQ — quick answers

Is 0% down really legal in Canada?

Yes — in our structure, the down payment is provided and converted into an option. This is compliant with lender & provincial rules when done correctly.

Can I renovate the house?

Yes. You own the home. Normal renovations are fine — you keep the value from improvements you make above maintenance.

What if the market drops?

You don’t owe us additional money. The downside risk is on our side.

Can I refinance or take a HELOC?

Not while the option is in place — the option is recorded on title. If you buy it out, you can refinance normally.

Do I need to pay off the down payment?

If you are living in the home, you don’t have to pay off the option. If you move, sell, or die, then yes, the option needs to be purchased from the proceeds of the sale.

Can I buy it back?

Yes, once a year, you can buy some or all of it back at the current market rate. We suggest you use the First Time Homebuyers Savings Account and use the first year tax savings to buy back a portion of the first year.

Can I use this for investment properties or a second home?

No, at this time the program only works with 5% down payments where it’s your primary residence and you actively live in the home. In the future we will expand to uninsured or investment properties.

Ready to see if you qualify?

I’m a local Edmonton realtor and broker — I’ll help you whether you use the program or not. If you need the backstop.
This program removes the biggest barrier: the down payment.

See what you can afford in 3 seconds (just input your rent in our affordability calculator) →

Disclosure: The program requires mortgage approval. Terms, eligibility, and costs vary. All numbers in this guide are illustrative — contact us for a personal assessment. Keylo.ca is a real estate brokerage and does not supply the funds (we help buy or sell).

The post Edmonton 0% Down Home Buying Program appeared first on Keylo.ca.

Rent To Own

Keylo — Tue, 30 Jan 2024 03:54:52 +0000

Rent To Own: Scam or Real?

Rent-to-own is a type of agreement that allows a potential buyer to rent a property for a certain period of time, with the option to purchase it at the end of the term. While this may sound like a convenient way to achieve homeownership, it is often fraught with risks and pitfalls that can cost you a lot of money and frustration. Here are some reasons why rent-to-own takes advantage of you and how to avoid falling for it.

Reason 1: You pay more than the market value

One of the biggest drawbacks of rent-to-own is that you end up paying more than the market value of the property. This is because the rent-to-own contract usually includes a higher monthly rent, a nonrefundable option fee, and a premium price for the home. The monthly rent is typically 10% to 15% above the market rate, and a portion of it goes toward the purchase price of the home. The option fee is a lump sum that you pay upfront to secure the right to buy the home later, and it is usually 3% to 5% of the home’s value. The premium price is the agreed-upon purchase price of the home, which is often inflated to account for the appreciation of the property over time.

All these extra costs add up to a significant amount of money that you could have saved or invested elsewhere. For example, if you rent-to-own a home worth $300,000 for three years, you may end up paying $36,000 in option fees, $54,000 in rent credits, and $330,000 in purchase price, for a total of $420,000. That is $120,000 more than the original value of the home, and it does not include interest, taxes, insurance, or maintenance costs.

Reason 2: You have no ownership rights or protections

Another reason why rent-to-own is a scam is that you have no ownership rights or protections until you buy the home. This means that you are still a tenant, not a homeowner, and you are subject to the landlord’s rules and regulations. You are also responsible for paying rent on time, maintaining the property, and complying with the terms of the lease. If you fail to do any of these things, you may lose your option to buy the home and forfeit all the money you have paid toward it.

Furthermore, you have no control over what happens to the property or the landlord during the rental period. The landlord may decide to sell the home to someone else, default on the mortgage, or face foreclosure. The home may also suffer from damage, depreciation, or legal issues that affect its value or title. In any of these scenarios, you may end up losing your chance to buy the home or having to deal with a lot of hassle and uncertainty.

Reason 3: You may not qualify for a mortgage at the end of the term

The final reason why rent-to-own is a scam is that you may not qualify for a mortgage at the end of the term. Rent-to-own contracts usually last for one to three years, during which you are supposed to improve your credit score, save for a down payment, and secure a mortgage. However, this may not be as easy as it sounds, especially if you are paying a high rent and have other financial obligations. You may also face challenges in finding a lender who is willing to finance a rent-to-own deal, as some lenders may not accept the rent credits as part of the down payment or may require a higher interest rate or stricter underwriting standards.

If you are unable to get a mortgage at the end of the term, you have two options: either extend the contract or walk away from the deal. Extending the contract may mean paying more fees, rent, and purchase price, and it may not guarantee that you will qualify for a mortgage later. Walking away from the deal may mean losing all the money you have paid toward the home and having to start over from scratch.

Not sure rent-to-own is right for you? Many Edmonton renters qualify for a standard mortgage with 0% down through Keylo — you own from day one; it is not rent-to-own.

See how Edmonton 0% down works → | Run affordability calculator →

Reason 4: There is another way

Instead of having the option to buy a home in years. Simply buy the home now, usually with a smaller down payment then rent to own. It’s a special program we like to call

XRent. Learn more

How to avoid rent-to-own scams

Rent-to-own is not a scam in itself, but it is a risky and complicated way to buy a home. Therefore, you should be very careful and cautious before entering into such an agreement. Here are some tips on how to avoid rent-to-own scams and protect yourself:

Do your research. Before you sign anything, make sure you understand the terms and conditions of the contract, the market value and condition of the home, and the reputation and background of the landlord. You should also consult with a real estate agent, a lawyer, and a financial advisor to get professional advice and guidance.
Do your due diligence. Before you move in, inspect the home thoroughly, get a home appraisal and a title search, and verify the landlord’s ownership and mortgage status. You should also check the zoning, taxes, insurance, and HOA fees of the property, and make sure there are no liens, encumbrances, or legal issues that could affect the sale.
Do your homework. During the rental period, work on improving your credit score, saving for a down payment, and getting pre-approved for a mortgage. You should also keep track of your rent payments and receipts, and maintain the home in good condition. You should also monitor the market trends and the home’s value, and be prepared to negotiate or cancel the deal if necessary.

Conclusion

Rent-to-own may seem like a convenient and affordable way to achieve homeownership, but it is often a scam that can cost you a lot of money and trouble. Rent-to-own contracts usually involve paying more than the market value of the home, having no ownership rights or protections, and not qualifying for a mortgage at the end of the term. To avoid rent-to-own scams, you should do your research, due diligence, and homework at BuyMyHomie.com before and during the rental period, and seek professional help and advice. Alternatively, you may want to consider other options, such as saving for a down payment, applying for a low-down-payment mortgage, or buying a cheaper home.

The post Rent To Own appeared first on Keylo.ca.

Myth or Fact – Real Estate “Urban Legends”

Keylo — Mon, 12 Dec 2022 09:00:00 +0000

No one locks their doors in Churchill, Manitoba

Real Estate Fact

This may sound completely ridiculous or it may be just about the most “Canadian” thing you have ever heard of. Guess what, it is true… but not for the reason you may think. In Churchill, Manitoba, polar bears roam the streets freely. Because of this, residents are encouraged to leave their doors unlocked, providing an easy escape should they encounter a bear.

Canada has real estate on Mars

Real Estate Myth

You may have heard this rumor or others similar to it buzzing around. While it would be pretty cool to say our country’s borders extend all the way to the little red planet in the sky or entertain the idea that you could purchase a vacation property in the stars, this isn’t a current possible reality.

The truth is, the AU has named 1,141 craters on mars after towns and scientists, 30 of which are in Canada. The International Astronomical Union is responsible for naming craters on the red planet using a correlation between size to urban population. Although these given names are not registered or necessarily official, the scientific community recognizes them anyway and it is seen as a great honor. Some prominent craters representing Canada are Gander – named after a town in Newfoundland and Labrador – and Prince Edward Island National Park.

At this point, no country or person can own any piece of land on mars or any other space dwelling. In article II of the outer space treaty, you will read, “Outer space, including the moon and other celestial bodies, is not subject to national appropriation by claim of sovereignty, by means of use or occupation, or by any other means.”

Sears Mail Order Homes

Real Estate Fact

You may have heard the legend of Sears mail-order homes and thought it was too crazy to be real, but it is 100% true. In the early 20th century, Sears & Roebuck offered a large selection of houses to be purchased through a catalog and shipped to your address. It would be received in the form of materials, tools, and instructions so that “Any man of reasonable strength, size, and intelligence can assemble a Sears & Roebuck home.” Sound 75,000 of these kits were purchased and some are even available for resale today!

The pyramids were built by slaves

Real Estate Myth

This misconception has been commonly believed to be true, however it is the biggest myth involving the pyramids of Giza. The rumor is said to have been started by Herodotus – a greek historian that shared stories indicating the use of around 100,000 slaves after he visited the pyramids in 450 BC.

This has been debunked by archaeologists who discovered the bones of cattle, which indicated that the workers on the build were most likely regularly consuming beef. Considering beef was once a delicacy in ancient Egypt, this suggests that the pyramids were most likely constructed by well-fed workers. In addition, there have been tombs discovered next to the pyramids of Giza. Being buried so closed to the resting place of Pharohs was a great honour, something that would never have been allowed for a slave worker. Currently, it is believed that a force of approximately 10,000 skilled laborers built the Great Pyramids.

Bought a home for a paperclip

Real Estate Fact

No one could reasonably fathom that this story could be possible, but it is. Kyle MacDonald, a Canadian blogger, made history with this incredible success. His first trade started with a red paperclip and a fish-shaped pen, which was then traded for a hand-sculpted door knob, and so on. His final deal included trading an acquired role in the film “Donna on Demand” of a two-story farmhouse in Kipling, Saskatchewan.

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