DUE TO COVID-19, ALL PROGRAM LAUNCHES DELAYED UNTIL FURTHER NOTICE
Beginning April 1, 2020 we will be accepting applications.
What is the Homeownership Program?
This program is funding through the Investment in Affordable Housing Program. It assists low to moderate income households currently renting a home in Lanark County or the Town of Smiths Falls to purchase a home by providing a forgivable down payment loan to a maximum of 5% of the purchase price of the home. The loan is forgivable after twenty years.
- Minimum age of 18 years
- Maximum household income $91,400
- Access to mortgage financing
- Home purchase price less than $305,372.00
- Home located in Lanark County or the Town of Smiths Falls
- Newly constructed or resale home (construction loans not available)
- Applicants must be renting in the County of Lanark or the Town of Smiths Falls
Annual funding is limited. Applications are approved on a first come first served basis.