Alberta Down payment assistance program

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Alberta Down payment assistance program

Post: # 47545Post Flipping4Profit.ca
Tue Jan 08, 2019 12:25 pm

Alberta Down payment assistance program

Program: PEAK Housing Initiatives (formerly PEAK Program)

Provider: Joint initiative between Trico Residential, the Government of Alberta Municipal Affairs, CMHC and Habitat for Humanity

Details: PEAK housing units are priced at market value and recipients must be able to qualify for and hold a mortgage. Once approved for the program, PEAK provides a second mortgage for either a partial or full down payment up to a maximum of 5 percent of the purchase price. PEAK has so far helped 111 individuals and families purchase a home of their own.

How to apply: http://www.peakinitiative.ca/

Program: Attainable Homes (specific to Calgary only)

Provider: The City of Calgary

Details: This program has been in place since 2009 and is geared towards moderate-income Calgarians. Successful applicants must be able to contribute $2,000 towards the down payment of their home, and the Attainable Homes program contributes the rest. If and when the homeowner sells the home, the growth in the home’s value is split between the homeowner and the program, with that money reinvested to assist other home buyers. The longer the homeowner remains in the house, the more their share of the appreciation increases.

How to apply: https://attainyourhome.com/

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