The Federal and Provincial governments have provided the County of Simcoe with $1.026 million funding to provide down payment assistance to a minimum of 118 households under the Homeownership component of the Canada-Ontario Affordable Housing Program. The funding provides down payment assistance to moderate income individuals and families giving them the opportunity to move from rental accommodation to homeownership.
Applicant Eligibility
To be eligible for down payment assistance, the prospective purchaser must meet the following minimum criteria:
• Minimum age of 18 years with a gross household income below $62,800
• Total assets of the household cannot exceed $20,000
• Be a renter household in the County of Simcoe
• Purchase a sole and principal residence within the County of Simcoe
• Cannot own or have an interest in a house or land
• Be able to secure financing on the property
• Must not owe any social housing provider arrears
• Complete a Homeownership Application and provide all necessary documentation.
Unit Eligibility
• Maximum eligible house price of $208,000, located within Simcoe County
• Down payment assistance will be 5% of the cost of an eligible home under the
program to a maximum of $8,695
• Eligible homes include new or re-sale detached, semi-detached, town (condo and
freehold), stacked homes, row houses or apartment. Applicants purchasing re-sale
homes must provide a copy of a home inspection undertaken at the homeowners
for more information please visit: Canada-Ontario Affordable Housing Program
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