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Housing · AB
Low-interest Alberta loan, secured against the land title, letting seniors pay for repairs, adaptations or renovations to their primary residence. The loan runs from $500 to $40,000 per household, at the current 4.45% rate, reviewed every six months. You must be 65 or older (only one spouse needs to be), be a registered owner of an Alberta residential property, have annual income of $75,000 or less and keep at least 25% home equity after the loan. Someone refused a loan for lack of equity may be considered for a GRANT if their annual income is at most $32,690 (single senior) or $53,800 (senior couple).
Eligibility conditions
Reside in an eligible province (AB)
Be at least 65 years old
Net family income under $75,000
Eligible housing tenure (homeowner)
How to apply
Check the four conditions: 65 or older, registered owner in the Alberta Land Titles Office, annual income of $75,000 or less, at least 25% equity after the loan.
Apply for a SHARP loan; the minimum request is $500 and the maximum outstanding balance per primary residence is $40,000, excluding interest.
If refused for lack of equity, apply for the SHARP grant when income is under $32,690 (single) or $53,800 (couple).
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