The County of Dufferin Homeownership Program is designed to provide moderate income households with an interest-free down payment assistance loan/second mortgage to assist them in purchasing their own home.
The County of Dufferin can provide up to ten percent (10%) in down payment assistance to eligible applicants to assist them in purchasing a home to a maximum of $45,000.
- Applicants must be at least eighteen (18) years old Applicants must be renter households
- Applicants must have a gross current household income at or below $90,500 (subject to change) Applicants must be eligible for financing from a financial institution for the first mortgage
- The purchase price of the home must be at or below $455,000 (subject to change)
- The homeownership loan amount is 10% of the purchase price to a maximum of $45,000 and is registered as a second mortgage
- First mortgage and second mortgage combined cannot exceed the purchase price of the home Home must be within the County of Dufferin
- The home must besole residence and not used for rental income
General information regarding this program can be requested via email at email@example.com
For information to help you make an informed decision, visit the Canada Mortgage and Housing Corporation (CMHC) for tips and tools on what to expect: http://www.cmhc-schl.gc.ca/en/co/buho/index.cfm