The Home ownership Down Payment Assistance program offers financial assistance to eligible households living in rental accommodations with one-time assistance in the form of a 20-year forgivable loan, secured by registration on title, for a 10% down payment to be used towards the purchase of a new or resale home with a maximum purchase price of $215,000.
Who is eligible?
Households who meet the following sample criteria: (For a complete list of eligibility criteria, please see the Homeownership Down Payment Assistance Information Sheet above).
Total household income and assets complies with the income and asset criteria as listed in the Information Sheet.
Applicants must be a renter, which is defined as a Tenant who has a rental agreement for a self-contained unit with a property owner who is not a relative;
Applicants will use the purchased home as their sole and principal residence;
Applicants qualify for a mortgage through a recognized financial institution. Applicants who require a co-signer and/or guarantor to qualify for a mortgage are not eligible for funding;
How to apply?
Applications and additional information are available by contacting County of Lambton, Housing Services Department during regular business hours Monday to Friday from 8:30 AM to 4:30 PM.
Mackenzie Kada, Project Coordinator
County of Lambton - Housing Services Department
Telephone: 519-344-2062 ext. 2165
Email: [email protected]
https://www.lambtononline.ca/home/resid ... ogram.aspx
Get your copy of
Directory Forgivable Canadian Real Estate Grants