Category Archives: Alberta Real Estate Grants

Top 5 Alberta Real Estate Grants

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Alberta Home reapir Grants

 

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Building Garden Suite Edmonton-Alberta

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Building Garden Suite Edmonton-Alberta

Building Garden Suite Edmonton-Alberta allows maximum one-time grant of up to $20,000. There are many different programs that are available to Alberta Homeowners to save money on purchasing homes, or making renovations.  A Secondary Suite:Is a self-contained dwelling located within a single detached house
Has separate cooking, sleeping and bathing facilities. Has a separate entrance from the single detached house, either from a common indoor landing or directly from the exterior of the house

 

Building Garden Suite Edmonton-Alberta

Is a self-contained dwelling located above or attached to a side or rear of a detached garage, or detatched from the principal single detatched house Is accessory to a single detached house
Has an entrance separate from the vehicle entrance to the rear detached garage, either from a common indoor landing or directly from the exterior of the structure
Has separate cooking, sleeping and bathroom facilities

Building Garden Suite Edmonton-Alberta
Get your copy of
Directory Forgivable Canadian Real Estate Grants
now at
www.GovernmentGrantsCanada.ca


Eligibility of the Homeowner (Applicant) for Building Garden Suite Edmonton-Alberta

Fund at least 50% of the eligible costs (without relying on other government funding)
Be the owner-occupier of the principal residential unit where the suite is proposed
Rent the secondary suite to an eligible tenant earning within the maximum income threshold by household size in the city of Edmonton
Sign and commit to fulfill the terms and conditions of a 5-year operating agreement
Have no tax arrears on the property
Hold title or have valid offer to purchase

Building Garden Suite Edmonton-Alberta

Funding Parameters

Maximum one-time grant of up to $20,000
Up to a maximum of 50% of the eligible costs
Meet City zoning and Alberta Building Code requirements to permit a secondary or garden suite
Suite must be located within the boundaries of the City of Edmonton
Eligible costs include: required servicing, building materials, qualified labour for construction to meet minimum health and safety code requirements for secondary suites, valid development and construction permits

 

Ineligible costs include: furnishings, appliances, and site development
Costs incurred prior to approval of Cornerstones grant funding are not eligible
Funding will be committed based on the figures submitted. Cost overruns will not be covered by the City of Edmonton

 

Application Requirements (Required Documentation)

Completed application form, signed and dated by all parties on title
Copy of Notice of Directors or a Corporation Search if the property is owned by a company
Valid 2017 development permit form for a secondary suite or a valid garden suite permit
Itemized estimates of the total construction costs of the proposed suite
Copy of a floor plan of the proposed suite approved by a City Plans Examiner
Copy of land title or valid offer to purchase
Copy of current property tax notice or assessment
Confirmation of project financingApplication Process

Building Garden Suite Edmonton-Alberta

Submit a completed application package with all the required documentation to: Housing and Homelessness, 2nd Floor, Edmonton Tower, 10111 104 Avenue NW
Approval of grant funding will be given in writing within an approval package which will contain an approval letter, 4 operating agreements, and schedule A for potential tenants to fill out
Schedule and pass pre-drywall inspection
Schedule and pass final inspection
Submit copies of paid receipts/invoices and return the 4 copies of the operating agreement (with original signatures of all parties on title) to: Housing and Homelessness, 2nd Floor, Edmonton Tower, 10111 104 Avenue NW
City will issue the cheque when all requirements have been met
A completion package will be sent shortly thereafter which will contain a completion letter, occupancy permit sticker, and a sealed operating agreement

 

Post-construction Obligations

The homeowner must maintain tenancy records for the term of the 5 year operating agreement, and make them available at any time the City requests to see them
The homeowner must notify the City when the suite is vacant during the term of the operating agreement
The City retains the right to access the property and monitor the project and ensure compliance with all terms and conditions of the operating agreement over its 5-year term
The City may inspect a Program-funded property on an annual basis
The homeowner and tenant must provide a City inspector access within one week of a request being made to enter the premises for up to 5 years after the receipt of Program funding
A homeowner who breaches the terms of the signed operating agreement will result in full repayment of the entire grant amount.

DISCLAIMER

We believe the information contained in this
article to be accurate.It is presented with the
understanding that we are not engaged in
rendering legal,accounting, or investment advice.

When professional assistance is required,
utilize the services of a licensed real estate
broker, lawyer, accountant,
or other consultant as may be required.

Building Garden Suite Edmonton-Alberta
Tickets for LIVE CRASH COURSE at [color=#0000BF]http://www.Flipping4Profit.ca

Alberta seniors home adaptation & repair program

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Seniors Home Adaptation and Repair Program (SHARP)

Alberta seniors home adaptation & repair program allows senior homeowners age 65 and older to finance home repairs and adaptations through a low-interest home equity loan with the Alberta government.

Under SHARP, a maximum home equity loan of $40,000 will be available to single seniors and senior couples with an annual total income of $75,000 or less, and who have a minimum of 25 per cent home equity.
Alberta seniors home adaptation & repair program
Get your copy of
Directory Forgivable Canadian Real Estate Grants
now at
www.GovernmentGrantsCanada.ca


Consumer Protection Information


This new program includes consumer protection measures to ensure seniors know their rights when hiring contractors and entering into contracts. As a contractor operating in Alberta, you should be aware of the following:

SHARP will consider the reasonableness of the cost or fees to the senior for a home repair, Alberta seniors home adaptation & repair program or adaptation as part of the loan approval process.
Seniors who apply to the program will have contract cancellation rights if the senior is not eligible for a loan, has not waived their right to cancel and has not accepted any of the goods or services agreed to in the contract.
All current requirements for contractors and protections afforded to consumers under the Fair Trading Act still apply.
SHARP legislation ensures consumers get the information they need when they enter into a contract by obligating contractors and suppliers to carry out specific duties.

Alberta seniors home adaptation & repair program

Contractor (Supplier) Duties Under the Program

The following information summarizes contractor (supplier) duties and obligations as set out in the Seniors Home Adaptation and Repair Act (Act) and the Seniors Home Adaptation and Repair Regulation (Regulation). In the event of any conflict or discrepancy between the information on the Ministry of Seniors and Housing website and the Act and Regulation, the Act and Regulation shall take precedence. You are encouraged to click on the links to the Act and Regulation to verify the current information.

Before entering into a contract with a consumer, contractors (suppliers) are required to:

Advise the consumer that the Alberta seniors home adaptation & repair program is available to provide home equity loans to cover the costs of home repairs, Alberta seniors home adaptation & repair program or adaptations that are reasonably necessary for the maintenance, structural integrity or energy efficiency of the home or for the health, safety or mobility of the occupants.
Advise the consumer that if the consumer's application for a Alberta seniors home adaptation & repair program loan to cover some, or all, of the costs of the goods and/or services agreed to in the contract is received by SHARP within 45 days of the date of the contract, that the consumer has the right to cancel the contract if:
the consumer is notified by Alberta seniors home adaptation & repair program that their application for a loan is not approved, and
the consumer has not chosen to waive their cancellation rights, in writing, as authorized in the standardized written Seniors Home Adaptation and Repair Program statement of cancellation rights included in the contract, and
the consumer has not accepted delivery of the goods and/or provision of the services agreed to in the contract, in whole or in part.
Provide the consumer a standardized written Seniors Home Adaptation and Repair Program statement of cancellation rights, in the prescribed format as per the Schedule, which is included in the contract.
Refund any money paid to them by the consumer, under the contract, within 15 days if the consumer cancels the contract within 30 days of receiving notification from the Seniors Home Adaptation and Repair Program that the consumer is not eligible for a loan.

Alberta seniors home adaptation & repair program


Method of Contract Cancellation

The notice of cancellation may be given by any means, including, but not limited to, personal service, registered mail, courier or fax, or by any other method, including orally, by which the consumer can provide evidence of the date that the consumer cancelled the contract.

Impacts of Cancellation of a Contract and Responsibility of Supplier
Cancellation of a contract in accordance with the Seniors Home Adaptation and Repair Act means that the
contract

Alberta seniors home adaptation & repair program

 

any related transaction
any guarantee with respect to money payable
any credit arranged by the supplier whether or not included in the contract
any security given by the consumer
is cancelled as if it never existed. When the contract is an offer to buy, the offer is withdrawn.

In the case of cancellation, any money paid to the supplier must be returned to the consumer within 15 days of the contract cancellation.

Need More Information?
If you want more information about the Seniors Home Adaptation and Repair Program:

Call the Service Alberta Call Centre toll free at
1-877-427-4088 or 780-427-4088 in Edmonton or
email seniorsharp@gov.ab.ca.

The information on this website is provided for your personal or
educational use only. It is not legal advice.

DISCLAIMER

We believe the information contained in this
article to be accurate.It is presented with the
understanding that we are not engaged in
rendering legal,accounting, or investment advice.

When professional assistance is required,
utilize the services of a licensed real estate
broker, lawyer, accountant,
or other consultant as may be required.

Alberta seniors home adaptation & repair program
Tickets for LIVE CRASH COURSE at [color=#0000BF]http://www.Flipping4Profit.ca

Grants for Alberta Disable & Senior Home Owners

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RAMP – Residential Access Modification Program

RAMP is a program that helps people with
mobility challenges to modify their homes to be
more accessible.

Grants for Alberta Disable & Senior Home Owners
Get your copy of
Directory Forgivable Canadian Real Estate Grants
now at
www.GovernmentGrantsCanada.ca

Who is eligible for Grants for Alberta Disable & Senior Home Owners?

 Albertans of any age who use wheelchairs
 Seniors who use a wheelchair or four-wheel
walker
 People who have progressive neurodegenerative
diseases, including multiple
sclerosis, muscular dystrophy, ALS (Lou
Gehrig's disease), COPD (chronic
obstructive pulmonary disease), Parkinson's
disease, Alzheimer's disease, spina bifida,
spinal cord injuries, or non-recovering
stroke

  Grants for Alberta Disable & Senior Home Owners

What are the income/asset limits?

 Applicants must have a gross household
income of $36,900 or less for a single
person, or $46,500 or less for a couple
 Amount can be increased by $9,600 for
each child under 21 years of age still living
at home and attending school full-time
 Amount can be increased by $7,131 if the
family is applying for a dependent child
under 18 who uses a wheelchair
 For applicants who bought a home within
the last 24 months, property value
thresholds apply as follows:

Calgary $510,000
Edmonton $420,000
Fort McMurray $660,000
Grande Prairie $360,000
Red Deer $390,000
Lethbridge $300,000
Medicine Hat $330,000
All rural areas $276,000

Grants for Alberta Disable & Senior Home Owners

 Property threshold values are also applied
to new homes being built on previously
owned land (new house and land value
combined)

How much is the RAMP Grants for Alberta Disable & Senior Home Owners?

 Up to $7,500 per grant
 Clients can get multiple grants of up to
$15,000 in a 10-year benefit period

What modifications are eligible?

 Modifications must enable the wheelchair
user to:
o access their own living space
o move within their own living space
 For a complete list, see:
humanservices.alberta.ca/documents/rampallowable-modifications.pdf

Is the Grants for Alberta Disable & Senior Home Owners available to people who rent?

 Yes, with approval from the landlord
 Either permanent or temporary
modifications can be done with landlord
approval

 

Will RAMP fund projects that are already
finished?

 

 If the project falls within RAMP’s policy
guidelines it may be considered
 Applications should be submitted to RAMP
as soon as possible, but no later than 90
days of the project being completed

How to apply

Online application packages are available at:
humanservices.alberta.ca/ramp

More information:
Web: humanservices.alberta.ca/ramp
Phone: Edmonton local: 780-427-5760
Toll free anywhere in Alberta: 1-877-427-5760
Email: HS.RAMP@gov.ab.ca

Alberta Community and Social Services
10th floor, Milner Building
10040-104 Street NW
Edmonton, AB T5J 0Z2

DISCLAIMER

We believe the information contained in this
article to be accurate.It is presented with the
understanding that we are not engaged in
rendering legal,accounting, or investment advice.

When professional assistance is required,
utilize the services of a licensed real estate
broker, lawyer, accountant,
or other consultant as may be required.

Grants for Alberta Disable & Senior Home Owners
Tickets for LIVE CRASH COURSE at [color=#0000BF]http://www.Flipping4Profit.ca

Down payment assistance program Calgary-Alberta

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Down payment assistance program Calgary-Alberta

PEAK is designed to help middle-income families and individuals purchase a home. PEAK stands for Public, Essential And Key workforce which is the primary group the program serves.
 

Down payment assistance program Calgary-Alberta
Get your copy of Directory Forgivable Canadian Real Estate Grants
now at www.GovernmentGrantsCanada.ca

The PEAK Program was introduced in 2009 to provide an affordable home ownership option for employed individuals who were unable to save up enough money for a Down payment assistance program Calgary-Alberta on their home. PEAK began as a joint program between Trico Residential, the Government of Alberta Municipal Affairs, CMHC and Habitat for Humanity.

To date, PEAK has helped 111 individuals and families purchase a home of their own.

PEAK housing units are priced at market value and recipients must be able to qualify for and hold a mortgage. Once you are approved for the program, PEAK will provide a second mortgage for either a partial or full Down payment assistance program Calgary-Alberta up to a maximum of 5% of the purchase price.

The second Down payment assistance program Calgary-Alberta mortgage is interest free for the first five years, with repayment not due until you sell your home. If you choose to stay in the home beyond the five-year period you will begin to accrue interest to the second mortgage.

The best part about it is that PEAK recipients are able to retain all of the equity in their home, minus their initial deposit, if they stay in the home for at least three years.
The goal of PEAK is to help new home buyers enter the market, retain their equity to move up, and to continue to recirculate the initial fund to help additional buyers purchase a home.

Down payment assistance program Calgary-Alberta

WHO QUALIFIES FOR THE PROGRAM?

PEAK is geared towards buyers who meet the following qualifications:

Are pre-approved for a five-year fixed-rate mortgage equivalent to the price of the PEAK housing unit;
Have a household income to a maximum of $80,000 per year for singles or couples with no dependant children living at home; or, $90,000 per year for singles or couples with dependent children living at home;
Don’t have available resources for a 5% down payment;
To secure a unit you must have $1,000 available for a Down payment assistance program Calgary-Alberta
Have assets equaling less than $30,000 per household (excluding primary vehicle, RESP, RRSP or pension); and
Will keep the PEAK Housing unit as your sole permanent residence.

More info at http://www.peakinitiative.ca/

Down payment assistance program Calgary-Alberta

DISCLAIMER

We believe the information contained in this
article to be accurate.It is presented with the
understanding that we are not engaged in
rendering legal,accounting, or investment advice.

When professional assistance is required,
utilize the services of a licensed real estate
broker, lawyer, accountant,
or other consultant as may be required.

Down payment assistance program Calgary-Alberta
Tickets for LIVE CRASH COURSE at [color=#0000BF]http://www.Flipping4Profit.ca