Where can I find home ownership programs?

Affordable housing serves all kinds of people. Different people have different housing needs. No matter their background, affordable housing is meant to support people and provide them with the ability to thrive. There are many different affordable housing programs in Calgary. This guide article focuses on home ownership programs. Here are some other resources you can check out on affordable housing in Calgary:

Please note that this guide article will only cover a few programs in Calgary. For a full list, refer to the Affordable Housing Guide (pages 58-61).

Affordable Housing: Home Ownership Programs

Home ownership programs provide low-income families with opportunities to purchase homes and be a part of the community.

A big problem with buying a house is the required down payment. Attainable Homes Calgary helps families by providing down payment loans. You provide $2000 and Attainable Homes will pay the rest.

Eligibility

To apply you must be:

  • a family with a maximum household income of $103,000/year; OR
  • a couple with a maximum household income of $93,000/year; OR
  • an individual with a maximum income of $83,000/year.

In addition, your assets must be less than 20% of the home’s purchase price, up to a maximum of $50,000. Savings plans and the cost of your car are not included in this count.

Applying
  1. Fill out the registration form.
  2. A financial institution will confirm your eligibility for the program.
  3. Complete an education session that teaches you about the program and home buying works.

Habitat for Humanity is a non-profit organization that allows families to purchase homes without making a down payment. Home mortgage is interest-free and offered over an affordable period of time. This ensures that households do not spend more than 25% of their income on housing.

Eligibility

Families must be Canadian citizens or residents, not currently own a home, and be willing to complete 500 volunteer hours. Families must also have:

  • children under the age of 18
  • a total family income between $37,000 and $75,000
  • at least one member of the household working full-time (35 hours per week) with a consistent two-year employment history
  • lived in the area they want own a home in for two-years or more
  • good credit and little debt
Applying
  1. Take the eligibility quiz to see if you meet the requirements to apply.
  2. Attend an information session to find out how the program works.
  3. Submit an application!

PEAK (Public Essential and Key Workforce) Housing provides families with affordable home ownership opportunities. Applicants must be pre-approved for a mortgage. PEAK will provide a second down payment mortgage equal to a maximum of 5% of the home purchase price. The second mortgage is interest-free for the first five years. Additionally, repayment is not expected until you sell your home.

Eligibility

To apply you must:

  1. be a family with a maximum household income of $90,000/year; OR
  2. An individual or couple with a maximum household income of $80,000/year
  3. have assets equal to less than $30,000 per household.
  4. have been pre-approved for a five-year fixed mortgage
  5. be able to contribute $1000 towards a down payment.
  6. plan to only own a PEAK residence
Applying
  1. Download and complete the application form.
  2. Fax or mail your application (details below)

Fax:

403-253-9335

Mailing Address:

Habitat for Humanity Southern Alberta

210-805 Manning Road NE

Calgary, AB T2E 7M8

CIES Guides are a volunteer-led project made possible through contributions from the community.

Thanks to Asantewa Nkuah for help with this guide. If you want to suggest a correction to this guide, or want to submit one of your own, please contact us.