The Government of Alberta has created a program that will help seniors age in their homes with low-interest equity loans.
The Seniors Home Adaptation and Repair Program (SHARP) will assist elders with the finances to repair and renovate their homes. Seniors with an individual or combined income of $75,000 or less, along with a minimum of 25 per cent equity in their primary home are eligible for a maximum loan of $40,000.
“This program will allow seniors to age in community where they want to be, with their loved ones,” Minister of Seniors and Housing Lori Sigurdson said. “I am pleased to say that we already have a waiting list for our new program and we expect many of these projects to be underway soon.”
Seniors eligible for a loan must be:
- Age 65 or older (only one spouse/partner needs to be 65)
- A Canadian citizen or have been lawfully admitted to Canada for permanent residence
- An Alberta resident and have lived in Alberta for at least three months
- An owner of a residential property registered in a land titles office
For more information on SHARP, click here.
