Did you know you may be eligible for a forgivable down payment loan for your next home purchase! Give us a call 905-357-5366 to see if you qualify
The purpose of the Home ownership Program is to:
Make home ownership a reality for low to moderate income households in Niagara
Ease the demand for rental housing by assisting renter households to buy affordable houses
Offer down payment assistance for homebuyers through a 5% forgivable loan to a maximum of $19,537
Encourage developers to build affordable housing
Eligible Buyers
To be eligible for a down payment loan a buyer must:
Be a Canadian Citizen, Landed Immigrant or have Refugee Claimant Status with no outstanding removal order
Be 18 years of age or older
Not own or have an interest in other residential properties or owe arrears to a government assisted affordable housing provider or Niagara Regional Housing (NRH)
Currently be renting and looking to buy a sole and principle residence in Niagara
Have a gross household income below $80,300 and assets below $30,000
Be eligible to obtain a mortgage
Provide documents to prove eligibility
Agree to register loan on title for 20 years
Eligible Homes
New homes (home inspection encouraged)
Resale homes (home inspection required at buyer’s cost)
Purchase price cannot exceed $390,755
May be detached, semi- detached, townhome, duplex or condo
Must be modest in size and features
Cannot be a home in which the buyer or any member of the buyer’s family has an ownership interest
Homeowner Assistance
Homeowners will receive 5% of the cost of an eligible home (maximum $19,537) at the time of purchase closing
No interest will be charged on the loan
DLC BTB Mortgage Solutions FSCO 12039
Niagara largest Mortgage Broker
106- 5017 Victoria Ave Niagara Falls L2E4C9
T 905 357 5366 F 905 357 6654 C 905 246 5363
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