Manitoba Home Buyer Down Payment Assistance Program

[Navtaj Chandhoke]

Manitoba Home Buyer Down Payment Assistance Program

income housing strategy,HOUSINGFirst.

It is a $104.5 million, three-year fund to increase the supply of affordable housing

in Manitoba through:

co-operatives and home ownership

remote communities

What is the Home buyer Down Payment Assistance Program?

This program helps first-time home buyers access new or recently renovated

affordable housing by providing financial assistance for a down payment.

Down-payment assistance may be provided to new home buyers for homes

funded under the Home Ownership Program in:

closing cost allowance

price, plus a closing cost allowance

Where is the program available?

The program is available in designated target

areas and in northern non-market communities.

Who does the program benefit?

The program is designed for:

at or below the HOMEWorks! maximum household income limit

Who is eligible for funding?

To be eligible, applicants must be able to obtain a mortgage from a bank or other

lending institution. The mortgage term must be set for a minimum of five years.

The contribution amount is earned over a 10-year period, provided applicants maintain

their home as their principal residence.Home buyers are encouraged to take a

homeowner education course, such as that offered by a bank or financial institution.

Where can I get more information about HOMEWorks!?

For more information:

call 945-5566 in Winnipeg

toll-free in Manitoba 1-866-689-5566

DISCLAIMER

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.

Speaking Engagements

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.

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