- Description
- Provides down payment assistance to moderate income individuals and families giving them the opportunity to move from rental accommodation to homeownership
- Homeownership component of the Investment in Affordable Housing program provides up to 10% in down-payment assistance to households to aid them in purchasing a new house at or below a set maximum price (changes yearly)
- loan is forgivable if the applicant keeps the home for 20 years
- if the applicant sells the house, they have to repay the principal downpayment assistance plus 10% capital gains
- this money will then go back into a revolving fund the county will maintain so it can be rolled back out again
A percentage of available funding will be designated for applicants currently living in Social Housing or those who self-identify as Aboriginal households - Eligibility
- must be a current resident of Simcoe County, including Barrie and Orillia
- must provide proof of mortgage pre-approval
- must be a renter household (please note: Room & Board and/or living with family does not qualify as Renter Household unless you are staying in a separate rental unit within the home that can be rented out upon your departure)
- cannot currently own a home or have any vested interest in a residence/land
- must provide proof of gross household income at or below $73,800
- personal assets, including any gifting amounts from friends or family, savings, GIC's, etc. cannot exceed $20,000. RRSP's of first time home buyers now do count towards personal contributions as they can be accessed for home purchases as per Canada Revenue Agency guidelines
- no outstanding arrears if a former/current tenant of Social Housing in Ontario
- at least 18 years of age, Canadian citizen, landed immigrant, or have Refugee Claimant status
- supply photo identification and birth certificate
- must be a current resident of Simcoe County, including Barrie and Orillia
- Application Process
- Check the website for updates, information or to download application form. There may be a waiting list depending on fund availability.
- Office
- 705-725-7215 ext 111 9 - accepts collect telephone calls
- Web Site
- Visit Website
- iah@simcoe.ca
- Mailing Address
- Administration Centre, 1110 Hwy 26
Springwater, ON, L9X 1N6
Canada - Languages
- English, French
- Contact
- Joanne, Administrative Assistant
- Program Supervisor
- Tom Fortier
Phone: ext 1150 - Fees
- None
- Documents Required
- Details will be provided if required.
- Accessibility
- Fully Accessible
- Topic(s)
- Social Media
- Agency Information
- View Agency Profile
- Copyright
- Community Reach
- Last Updated On
- January 12, 2023
- Address
- Administration Centre, 1110 Hwy 26
Springwater, ON, L9X 1N6
Cross street: Hwy 26 and Bayfield St
Open in Google Maps - Hours of Operation
- Mon8:30 am to 4:30 pmTue8:30 am to 4:30 pmWed8:30 am to 4:30 pmThu8:30 am to 4:30 pmFri8:30 am to 4:30 pm
Mon-Fri 8:30 am-4:30 pm - Service Area(s)
- Simcoe County
