Loan program to help 15 Peterborough renters afford a down p

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Loan program to help 15 Peterborough renters afford a down p

Post: # 45595Post Flipping4Profit.ca
Tue May 12, 2015 2:57 pm

Loan program to help 15 Peterborough renters afford a down payment


The program is available to people who are renting and have a total household income of up to $69,800.00 The household must purchase a house for $254,000 or less, and must be pre-approved for a mortgage to qualify for the $12,000 loan.

The program will give renters who need a little boost the opportunity to become homeowners — people who can carry a mortgage but can’t put together a down payment. When the sale of the homes closes, the loan is registered as a second mortgage.

The loan program is administered through the City. For more information on how to apply, contact the City’s housing division at 705-742-7777 ext. 4663 or email [email protected].


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