Local program offers affordable housing
Posted Jan 24, 2016 5:07 pm.
This article is more than 5 years old.
There are 14 town homes that have been added to a list of affordable housing in Calgary, for buyers who can only afford a modest down payment.
The new homes are available in the southeast community of Copperfield for those who qualify for the Attainable Homes Calgary program.
It was developed for couples and families working in municipal, academic, social services and health sectors.
Marissa Toohey, communications manager with Attainable Homes Calgary told 660 NEWS, there are a few criteria that need to be met for people to qualify.
“First of all, you have to meet the annual household income of less than $90,000 if you have dependent children living in the home, and less than $80,000 if you don’t have children living in the home,” Toohey said. “You have to complete an education session. You can’t have assets exceeding $50,000, and the home must be your permanent sole residence, so you can’t rent it out.”
Those interested also need to have a $2,000 down payment available. Toohey added, once people have been approved, the process of getting a home is fairly quick.
“Simply register on our website, fill in a questionnaire, sign up for an education session, and then connect with one of the partner lenders to get a mortgage pre-approval,” she said. “It’s up to anyone, they can move at their own pace. It can happen as quickly as a month to move in to one of our homes if it’s already fully constructed and you’re ready to go, or you can take your time.”
The goal of the program is to help people who haven’t saved enough for a down payment because of the cost of living in Calgary.
