With gifted down payments up to five percent available to qualified buyers, our attainable homes don’t last long. If you’re looking to own your very own home, your journey begins right here.
How the Attainable Home Ownership Program Works
At AHCC, we partner with local developers to establish discounts that we pass on to our customers. We also provide eligible applicants with a gifted down payment. Each project differs slightly, but here's a simple example of how our program works.
Average condo/townhome at market value
Attainable Homes purchase price
Attainable Homes gifted down payment*
Your revised home purchase price
Deposit required by you
Your mortgage from a preferred lender
*This gifted down payment becomes a forgivable loan
When you decide to sell or refinance your attainable home, we share in the home's appreciation at that time. The longer you keep your home, the more of its appreciation you keep to a maximum of 75 percent.
Years of ownership
Homeowner’s share of appreciation
0 – 1 year
1 – 2 years
2 – 3 years
3 + years
Now let's see what happens if you live in your attainable home for four years and the appraised value becomes $254,700 (you can sell or refinance your attainable home any time you want; there is no minimum length of ownership, and there is no maximum).
Market value of your attainable home
Less your original deposit
Less your first mortgage amount
Your share of the $45,700 appreciation would be $34,275 (or 75 percent). Our share of the appreciation would be $11,425 (or 25 percent), which we will reinvest in the Attainable Home Ownership Program to build more homes for future customers.
Ready to get started living the life you deserve? Please complete the Ownership Toolkit.
WE MAKE HOME OWNERSHIP HAPPEN
Attainable Homes Calgary Corporation (AHCC) is a nonprofit social enterprise and wholly owned subsidiary of The City of Calgary that delivers well-appointed, entry-level homes for Calgarians who have been caught in the city’s growing housing affordability gap.
Through our Attainable Home Ownership Program, we connect builders, developers, lenders, lawyers and others to bring down the upfront costs of ownership so qualifying Calgarians can buy their very own home with a $2,000 down payment. Furthermore, when you decide to buy an attainable home, you're also choosing to pay it forward to help another family in the future. When you eventually decide to refinance or sell your home on the market, a share of the appreciation goes back into the program to fund more developments that will help even more people get a foot on the property ladder.
Do you aspire to own a home of your own? Contact us today and let us show you just how attainable this milestone can be.