What is the PEAK Home Ownership Program?
The PEAK program brings home ownership into reach for dozens of families and individuals who help keep Calgary a vibrant place to live but because of housing prices may choose to move to a more affordable community.
The program is aimed at assisting hard working, middle-income Calgarians who need a "hand-up" to qualify for a mortgage. The program is designed to get families and individuals into their own home and realize the dream of home ownership.
All Peak Units are priced and purchased at market value and all buyers hold a mortgage. Units purchased under the PEAK Home Ownership Program must be the principal residence of the approved applicants.
PEAK is short for “Public, Essential And Key” workers:
- Public stands for public sector workers such as civic, provincial and federal employees.
- Essential stands for essential workers like teachers, health care workers, social services, firefighters, police officers, paramedics and air traffic controllers.
- Key stands for key workers needed for a vibrant Calgary; like artists, trades people, non-profit sector, service industry and journalists.
Do you qualify?
- Applications are dealt with on a first come, first served basis and are pre-approved by Calgary
Habitat for Humanity Society.
- Eligibility will be determined by the following criteria:
- Your gross family income needs to fall within a certain range for each unit type as determined by Habitat for Humanity Calgary and be adequate to assume all the responsibilities of the full mortgage payment, after the 5 year assistance period.
- Your household size should be relative to the size of unit selected - Need.
- Your application is conditional upon credit pre-approval and ability to obtain a market mortgage and insurance through the assistance offered by the PEAK program - Financial/Credit worthiness.
- All applicants will be required to attend New Home Owner Workshops which will include topics such as Home Repair and Maintenance, Financial and Credit Management and Condominium Ownership: Understanding Legal Responsibilities
How does it work?
- Visit the "How to Apply" page on this site to review detailed program qualifications.
- Download, complete, and submit the application form. A link to the appropriate form is available on the information page of the project you are applying under. (See the Projects page). Send any inquires to peak@habitatcalgary.ca, or call 403-253-9393.
- Qualified applicants will be contacted and asked to acquire bank and mortgage loan insurance approval for a mortgage.
- Once approved, applicants will be matched up with suitable units based on need and availability.
Who's involved?
For information on the partnerships involved in the Peak program, see the "Partners" page.
