Niagara Downpayment Assistance
Did you know the Niagara Region offers a downpayment assistance program? The Niagara Homeownership Program is here to make owning a home a reality for low to moderate-income households while easing the demand for rental housing.
How does it work?
✨ This program offers:
✔️ Down payment assistance: Up to 10% of the purchase price (up to $66,774.80) interest-free!
✔️ Encouragement for developers to build affordable housing
✔️ A pathway for renters to become homeowners
💡 Eligibility Highlights:
🏠 Must be a first-time buyer renting in the Niagara Region
🏠 Gross household income under $95,000 (1 person) or $113,000 (multi-person households)
🏠 Have personal assets below $50,000 which includes RRSPs and any gifting amounts from family/friends
🏠 You must be able to cover all closing costs and provide proof you are able to do so
🏠 You must qualify for a mortgage through a recognized financial institution
🏠 Home purchase price must be under $667,748
It’s a simple 3 step process that one of my trusted mortgage brokers and I can help walk you through! If you’re curious to find out if this program is right for you, send me a message and we can chat further about making your home ownership goals a reality!