How it Works – Liberty Home Ownership


We help with your down payment so you can own your home with just $1,500!

What is this program?

The ProgramLiberty Home Ownership is a down payment assistance program. We know that a major obstacle to home ownership for many hard-working Albertans is coming up with the down payment to purchase their own home.

Our goal is to clear this obstacle through our innovative shared equity model. You contribute just $1,500 and Liberty provides the remainder of the required 5% down payment.

You can live in your home as long as you want. Only when you wish to sell, you share a small portion of the home’s appreciation with Liberty so we can help pay it forward to future participants of our program.

The appreciation calendar below illustrates the breakdown based on how long you live in your home.

% of Shared Equity Amount to Liberty % of Shared Equity Amount to Purchaser
From when you take official occupancy to the end of the 1st year you live in the property 90%, OR the full amount of the Forgivable Equity Loan, whichever is greater The balance, if any
From the first anniversary plus one day from the occupancy date up to and including the second anniversary 70% 30%
From the second anniversary plus one day from the occupancy date up to and including the third anniversary 40% 60%
From the third anniversary plus one day from the occupancy date until the twentieth (20th) anniversary plus one day from the occupancy date 20% 80%

Shared Appreciation Calendar

The visualization below illustrates the Shared Appreciation model from when you buy and when you choose to sell.

How it Works

How it Works

Who is Eligible?

The program works for you if:

You are able to apply and successfully qualify for mortgage approval with one of our approved lending partners.

You have permanent, steady employment & are able to contribute just $1,500 of your own funds to go towards a required 5% down payment.

You can complete our online Owner’s Education Course on responsible home ownership upon program approval.

The program may NOT be for you if:

You can’t qualify for a mortgage. Liberty helps to give you a down payment, but the mortgage approval process is exactly the same as it would be for any other purchase.

You have bad credit. With a score below 650 you may have issues being approved for a mortgage through most major lenders.

You are in consumer proposal/bankruptcy. Most major lenders will not grant mortgages to people in consumer proposal.

Questions about approval requirements? Contact our mortgage specialist partner directly for more information.

How Do I Get Started?


Online Application

This is the first step on your journey through the Liberty program and will only take a few minutes to complete. Fill out our online application and provide us with your basic information such as: name, date of birth, employment status, current address, family situation and household income, From there, Liberty will contact you to give you access to Step 2.

Apply Online


Mortgage Pre-Approval

After completing the online application, we will contact you to pair you up with one of our dedicated financial experts from our participating financial institutions. Our financial experts will quickly (typically within 2 business days) be able to determine what home will best suit your needs and requirements. Can’t quite get pre-approved? Our financial experts will put you on an individualized financial success plan to help you get approved in the near future.

Mortgage Approval


Choose Your Housing

Once you have your mortgage pre-approval in hand, you will be able to select a home from Liberty’s available products. You are welcome to choose a home that suits your lifestyle and fits within your pre-approval amount. You can even visit them in person to experience the homes before you decide. Simply book an appointment at the location that you desire and their client service specialists will be able to give you a tour.

Choose Housing


Home Owner Education

Liberty wants to make sure you are given the right information to make the transition to becoming a homeowner as smooth as possible. We provide you with resources that illustrate vital components of homeownership, such as: how to make a budget, how to maintain a good credit rating, how to properly maintain your home, and much more. Upon successful completion of the online education course, we will provide you with an electronic certificate of achievement.

Home Owner Education


Move In Day

The day has arrived. Your hard work and dedication to becoming a home owner has become a reality. Prior to move in, the Liberty Team will coordinate everything with you including a thorough walk through of your home on possession date. You are now ready to move in and create amazing memories in your brand new home that you own!

Move in Day

Exiting The Program

Ready to exit the Liberty Program? Refer to the “How Do I Exit?” question in the FAQ’s on how to arrange for payout and discharge.