The Homeownership Program provides down payment assistance to eligible households through federal/provincial funding. This assistance is in the form of a 20 year forgivable loan.
Eligible households must meet a list of criteria including the following:
Eligible homes must meet a list of criteria including the following:
The loan is 10% of the purchase price of a home. If the home remains your sole and principle residence, the loan is fully forgiven after 20 years and there is no requirement for repayment.