If you are looking to buy a home for the first time, Alberta is a great place to start your journey as it offers many incentives for first time home buyers. No interest payday loans are also available in Alberta. The Alberta Government Network offers the Public Essential and Key (PEAK) Program to help low-income people buy their first home. Once you are accepted into the program, PEAK extends a second home loan covering up to 5% of the purchase price. A second mortgage is interest-free for the first five years, and repayment is not due until you sell your home. If you decide to stay in the home for five years, you’ll start earning interest on the second mortgage. Applicants can benefit from this program if their household income is less than $80,000 or if they have children, it is less than $90,000. There is also another program for those looking to buy a home in Calgary. It’s called Calgary Affordable Home and you can buy a home with as little as a $2,000 down payment.


Basically, Attainable covers the difference and you pay them back by sharing the equity in the home with them when the house sells. The longer you live in the home, the greater your share of its value, up to 75 percent. To qualify for this program, household income must be up to $83,000 for individuals and $93,000 for couples with children.