![]() ![]() Simple interest charges start on the date that the program issues a loan and end when the loan is repaid in full. It is reviewed, and may be adjusted, every 6 months in April and October. the home is no longer your primary residence.You can choose to repay the loan at any time, but it will automatically become due when: Note: You do not need to make monthly re-payments. SHARP will register a caveat against your land title certificate to secure the loan you receive. SHARP provides a maximum loan of up to $40,000 to Alberta seniors and senior couples with a total annual income of $75,000 or less, and a minimum of 25% home equity in your primary residence where the work is to be completed. Receipts must be provided for home repairs, adaptations or renovations completed and paid for within 12 months before the date that SHARP staff receives your application package.Ī printable factsheet is available with information on eligibility, how to apply, repayments and other suggested resources. Seniors may apply for retroactive funding. You must provide a written cost-estimate or receipts for all project funds being applied for. improve the energy efficiency of their homes.adapt and modify their homes to improve accessibility and mobility.Eligible seniors can apply for a low-interest home equity loan with the Government of Alberta to cover repairs, adaptations and renovations to their primary residence. The Seniors Home Adaptation and Repair Program (SHARP) allows seniors to use their home equity to remain in their homes and maintain their independence. Submit documents online: This online option is the easiest way to send your supporting documents, such as your property tax assessment or bill, estimates or receipts to the Seniors Home Adaptation and Repair Program. For more information, see Loan repayment. You can repay your loan online through your financial institution’s bill payment function.
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