Program aims to boost home ownership

2008-03-13 / Local News

Help is available for low to middle income earners who would like to buy a home but are having difficulty putting enough aside for a down payment. Dufferin County is participating in the Canada- Ontario Affordable Housing Program (AHP).

The AHP is a $28 million program that provides up to five per cent in down payment assistance, to a maximum of $10,000, to eligible applicants.

The allocation for Dufferin is $270,000 for up to 32 homes.

Applicants must be renting, be at least 18 years old, have a gross household income at or below $62,000 and assets of no more than $20,000.

They must also be eligible for financing from a financial institution and the selling price of the home must be at, or below, $208,000.

Dufferin's director of community services, Dan Best, says about 25 homes in the county fall within that price range.

"It's an opportunity for individuals who are renting, would already prequalify for a mortgage, but may not have the savings for a down payment," explains Mr. Best.

He says there have already been 15 inquiries into the program and that applicants will be treated on a first-c0me, first-serve basis.

Information sessions will be held at 6:30 p.m. Monday at the Mel Lloyd Centre in Shelburne, and at 6:30 p.m Wednesday at the Best Western Inn and Suites, 7 Buena Vista Dr. in Orangeville.

For more information, contact Valerie Irwin or Betty Speer at the County of Dufferin Community Services at 519-941-6991, or visit the county website, dufferincounty.on.ca for more details.

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