Yes, in Canada it is still possible to finance 100% of a property's value if you know the rules and criteria. BUT - you need excellent credit history and reliable employment. Here's an illustration of how a zero-down mortgage works today.
Well, it's tax time and the Canada Revenue Agency wants to let you know that first time home buyers are eligible to get some cash back when they file their taxes under a program called the Home Buyer Tax Credit or HBTC.
First-time homebuyers who are Canadian residents can withdraw up to $25,000 from their RRSP TAX FREE. Through Canada’s Home Buyers Plan (HBP) you and your spouse can each withdraw up to $25,000 (as of the 2009 federal budget) to build or buy a qualifying home.
Builders (sellers, investors, etc.) frequently try to entice buyers into a transaction with cash back at closing, but in most (all) jurisdictions, it is a form of mortgage fraud and won't fly. Factually, while they might succeed getting you into a transaction, in reality the bank / mortgage lender will simply reduce the purchase price by the cash back amount, which will serve to increase your down payment requirements by the same amount. The reason is that if the seller is willing to give you cash back, then they would be willing to sell at a reduced price. So the real purpose of a cash-back offer is to entice/trick you into a transaction, which is not permitted and in fact illegal.