From Dream To Reality! HOME OWNERSHIP:
For many individuals in our society, the dream of owning a home is just that…a dream. The actual purchase of a home is one of the biggest financial investments anyone can make in a lifetime. One of the greatest obstacles to the actual purchase of a home is the required down payment that opens the door to securing that dream home. Owning a home is now one step closer to reality for many individuals who recently were unable to afford the long-term investment of owning a home. The Canada-Ontario Affordable Housing Program (AHP) has committed more than $28 million to make home ownership affordable for low and moderate-income households across Ontario. The County of Renfrew is participating in the program. The Homeownership Program provides up to 10 per cent assistance to low and moderate-income households to help with the purchase of a home in the County of Renfrew. There are of course some stipulations. According to Mrs. Carol Neill, General Manager of the Renfrew County Housing Corporation, applicants must meet certain criteria including: Ann Aikens In order to qualify for the program, there is a formal application process that is administered through Renfrew County Housing Corporation. The application must provide supporting information and documentation as required. Only complete applications will be considered, and selected applicants will receive a 60-day conditional commitment letter which can be presented to a financial institution as proof of down payment assistance. For more information on this exciting new program, or to request an application package, please call 613-432-3679. Residents of the County of Renfrew can also download the application package by visiting www.countyofrenfrew.on.ca , Chair of the Social Services Department, who also oversees the operation of the Renfrew County Housing Corporation points out, "this is an extraordinary opportunity for residents in the County of Renfrew to fulfill that dream of home ownership. Home ownership is a progression from renting one’s accommodation to owning one’s accommodation. I really encourage our local residents to inquire about this program. The program is based on a first-come, first-serve basis." -Applicants must be renting in Renfrew County -Applicants must be at least 18 years old -Have a combined household income at or below the maximum eligible gross income limit of $60,100 and have access to mortgage financing -The selling price of a home must be at or below the average resale price. The home must be modest in size, relative to community standards. |