The Region of Waterloo Affordable Home Ownership Program
Down Payment Assistance forgivable loans of 5% of the purchase price of your home
The program Funding for the Region of Waterloo Home ownership program is limited, (Current estimated wait list: 8 months) for a home purchase in the region of a few more first time home buyers families.
The Region of Waterloo Home ownership Program is being delivered by the Region of Waterloo on behalf of the Federal and Provincial governments:
- Make first time home ownership a reality for low to moderate income households in the Region
Eligibility of Applicants:
- Must qualify for a mortgage
- Must be 18-years or older.
- Be a current resident in the region of Waterloo and have lived in the region for at least the past 12 months
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Eligibility of the property:
- Single family home, semi-detached, townhouse, (condo or freehold) stacked home, row home, condo apartment,
- The property must be located in the Region of Waterloo
- The home can be a resale or new construction
- Purchase price cannot exceed 425,000
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Conditions for Repayment
- No repayment of the loan if home is sold after 20 years.
- If the home is sold before 20 year period expires, you must repay the original loan plus
5% of the capital appreciation - …more
How to Apply
- You must qualify for a mortgage
- Your mortgage agent will process your application
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