Applications for Homeownership 10% Down Payment Assistance Program Being Accepted Until November 12th
If you are renting and have been dreaming of owning your own home but don’t have a down payment in the bank, you may qualify for the Homeownership 10% Down Payment Assistance Program.
“The Homeownership Program provides up to 10% in down payment assistance to eligible applicants,” says Hope Lee, Manager of Housing. “We currently have $150,000 in funding still available to assist people in the City of Kawartha Lakes and the County of Haliburton move into homeownership.”
They are looking to approve four to six first time homeowners under this program before the end of December 2018. Applicants would need to apply by November 12, 2018. Approved applicants would then be provided 30 days to supply proof of financing, an agreement of purchase and sale as well as an acceptable home inspection report.
To qualify for the program, applicants must be renting in the City of Kawartha Lakes or the County of Haliburton, be at least 18 years old, have a gross household income at or below $76,100 and be eligible for financing from a financial institution. The selling price of the home must be at or below $363,127. Applicants must also be a first time home buyer and the home must be located in the City of Kawartha Lakes or the County of Haliburton.
The City of Kawartha Lakes is participating in the Homeownership Component of the Investment in Affordable Housing for Ontario – 2014 Extension which was developed to assist low to moderate income rental households purchase affordable homes.
For more information or to get an application form, please contact Arlene Smit, Affordable Housing Program Coordinator by calling 705-878-9367 extension 3109 or email housinghelp [at] kawarthalakes [dot] ca.