Government Grants

The Peak Initiative

Down Payment


This grant is a down payment assistance program made to help middle income families buy for a new home. The goal of the PEAK program is to help Albertans enter the housing market.


In order to qualify for this aid program, you must meet the following requirements:

  1. Are pre-approved for a five year fixed rate mortgage equal to the PEAK housing unit
  2. Have a maximum income of $80,000 per year for singles or couples or $90,000 per year for singles/couples with dependant children at home
  3. Lack resources for a 5% downpayment
  4. Must have $1,000 available for a downpayment
  5. Assets must equal less than $30,000 per household
  6. Must use the PEAK house as your sole permanent residence

Additional Information

  • PEAK provides a second mortgage for either a full or partial down payment up to 5% of original price
  • The second down payment mortgage is interest free for the first five years

How to Apply

You can fill out your PEAK application here.