The Home in Peel Affordable Ownership Program is designed to provide low to moderate income residents who are currently renting in the Region of Peel (Brampton, Caledon or Mississauga) the opportunity to qualify for down payment loan assistance to buy a home.
The program assists eligible applicants who have a total annual gross income of $87,800 or less, per household income, to purchase a resale home in the Region of Peel that does not exceed a purchase price of $330,000.
Applicants must be 18 years of age or older and cannot already own a home, or interest in a home, inside or outside of Canada.
Approved applicants are eligible for a $20,000 down payment assistant for the purchase price of an eligible home located in the Region of Peel. This is a secured forgivable loan for down payment assistance only; applicants are responsible for all other related closing costs including, but not limited to the deposit, home inspection fee, lawyer’s fees, land transfer costs, title search, possible land and/or municipal property tax payments, and any other unanticipated costs.
Should no default occur, the down payment loan will become forgivable on the 20th-anniversary date of the purchase of the home.
This program is currently suspended.
If you are interested in this program, fill up the next form to enroll in a call back list to be notified when and if the program is reinstated.
|Call or text 416-262-7139|