The Ontario Renovates program of the IAH Program 2014 Extension provides financial assistance to low-to-moderate income families to:
Repair their home to bring it to acceptable standards while improving energy efficiency.
Increase accessibility of their home through modifications and adaptation.
Funding is provided in the form of a forgivable loan on the cost of approved work items. The actual amount of assistance is based on the cost of repairs and the funds available, to a maximum of $10,000. The period of forgiveness for home repair projects is 10 years.
Funding for accessibility repairs, up to a maximum of $5,000, is in the form of a grant (not a loan) and does not require repayment.
To qualify, applicants must own a home that is their sole and principle residence with an assessed value of (maximum house price is updated on a quarterly basis) and needs repairs or modifications in one of the following areas: structural, heating, electrical, fire safety, plumbing or accessibility. Applicants’ combined gross household income must be $78,500 or less (maximum income level is updated annually).
Applicants who have previously received federal and/or provincial funding to either purchase the home (AHP or IAH Homeownership component) or for repairs (Residential Rehabilitation Assistance Program (RRAP), IAH Ontario Renovates) are not eligible for Ontario Renovates funding.
Funding is available on a first come, first served basis until all funds have been exhausted. Therefore, financial assistance may not be available to all eligible applicants in the year they apply. Applications may be placed on a waiting list. Download the Ontario Renovates Application and return the completed application form along with the requested supporting documentation to the Social Housing Division. Only applications that are complete will be accessed for eligibility.
We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.
Navtaj Chandhoke can be your next key note speaker for real estate office meeting or Canadian real estate investment conventions, expos or trade shows.please contact us for topics and availability.
Please contact us directly at [email protected] or 647-393-6100 to set up a session at your meeting or convention.
Reserve your seat now at
P.S. Success isn't a matter of chance, it's a matter of choice. So it's up to you to make the right choice to become successful. If you don't know what to do it starts with making the choice to register for this LIVE real estate investors training in your town now at www.Flipping4Profit.ca and making sure you make the right choice to SHOW UP!!! Learn more to earn more about CanadianTax sale properties.
To learn the strategies, techniques and Eye Witness Real Estate Investors Field Training. How to acquire Tax Sale Properties & Sheriff Sale Properties, Click Here