Attainable Homes Calgary is currently constructing 230 townhomes in the community of Albert Park/Radisson Heights. These homes come in a range of sizes from one-bedroom flats to two-storey homes ranging in size from 3 to 5 bedrooms. These are entry level homes with high-quality construction and design. Click here to see the homes we have available.

Yes, all homes sold by Attainable Homes are condominium ownership. Owners own their individual units, but the units have shared walls, a shared roof, and common amenities. All owners will be members of a condominium corporation. The condo corporation ensures the shared spaces are well maintained and functioning properly. As well, the condominium corporation ensures that the community rules are respected and followed.

The condominium corporation operates within a set budget. All owners pay a monthly condominium fee proportional to the size of their home that goes directly to the condominium corporation. A portion of the monthly fees go into a “reserve

fund” to serve as the piggy bank for any repairs or maintenance that may be required over the coming years. Do not think of this as money you would not have to pay if you

owned a detached home. All homes require maintenance from time to time including new roofs, siding etc. Condominium living requires the same input costs; in this case, they are simply shared by all owners.

To own a home, you must meet the following eligibility criteria:

• You must be able to qualify for a mortgage (home loan). This means your income must be sufficient to cover the costs of monthly mortgage payments. To qualify for a mortgage, our partnered mortgage specialists will review your income, credit history, and debt level.
• Your household income must be below the income maximum ($139,836).
• You can contribute a minimum of $2,000 toward your 5% down payment.

• Your assets are below $50,000 (your RRSP/RESP and primary vehicle do not count against you).
• You must have active, full-time employment or retirement income.
• You live in the home and it's your only home.
• Your household size is appropriately matched with the size of the home.

As a non-market housing provider, our goal is to give Calgary’s workforce access to homes they can afford. We seek out low-cost land, use smart designs, and work with the right builder partners to keep the cost of the homes down.

Brand new townhomes in the marketplace are out of reach for many of Calgary’s moderate-income earners. This program aims to fix that. When you buy a home through the Attainable Homeownership Program, there is a trade-off. Rather than paying a landlord rent, you are investing in yourself by paying down a mortgage and earning equity (money you keep).

Should the time come when you need to sell your home, Attainable Homes Calgary purchases it from you for the same price that you bought it for. This is different from the open market where you would hopefully sell the home at a higher price than you paid for it and earn bonus money called “appreciation.” In this program, there is no appreciation simply because we must keep the home affordable for the next purchaser.

What this program gives you is the opportunity to be a homeowner at a price you can afford and invest in yourself and your future.

When you purchase a home, whether independently or through our program, you must provide a deposit to lock-in your purchase prior to taking occupancy of your home.

Our program requires the full down payment as your deposit. A down payment is a requirement by the mortgage lenders to demonstrate that you are contributing to the cost of the home as well as them. In Canada, the minimum down payment is 5% of the price of the home.

We are currently using the mortgage services of our longest-serving mortgage lender, Scotiabank. They will work with you to determine if you qualify for the requirements of our program and the requirements of a mortgage.

We can provide a loan to buyers who do not have the lump sum required for the down payment (which serves as the deposit to us). Buyers who will be using our down payment loan will be required to provide $2,000 as their deposit. This money must be from your own savings.

The down payment loan will be a separate contract from the purchase and sale agreement. When you sell the home back to us at some point in the future, you will be required to pay back the down payment loan. We do not charge interest on the loan. If we lend you $15,000 for the down payment, you will return $15,000 back to us at the time of sale.

Sometimes an interested buyer isn’t at the right stage to qualify for a mortgage. This could be because they don’t earn enough income or because their credit score is not where it needs to be. In other words, it may not be the right time to purchase a home. But it doesn’t necessarily mean it’s a “no” forever. Often, mortgage specialists are willing to work with you to get you mortgage ready. The important thing is to have that first conversation.

In the Attainable Homeownership Program, you have a guaranteed purchaser, us! We will buy the home from you at the same price you paid when you bought it. This is what keeps the price of the home affordable to the next purchaser. Unlike selling a home in the open market, through our program, there is no risk of you losing money on your purchase. Added bonus? You don’t need to pay a realtor to sell your home. You simply contact the team that helped you buy the home and they will guide you through the exit process.

One of the benefits of owning a home is being able to make the space feel like “home.” In the Attainable Homeownership Program, you are allowed to make certain changes to personalize your home so long as they are undertaken in a professional manner and permitted within the condominium bylaws.

The costs of any minor improvements, however, will be covered by you and will not be compensated for in the resale value of your home.

If the changes you want to make are not mentioned explicitly in the condominium bylaws, you will need permission from AHC.

For the Attainable Homeownership Program, we do not require income checks during your ownership period. Income is qualified by the mortgage specialist only at the time of purchase.