Are you looking at homes and struggling to save for the down payment? The Region of Waterloo’s Affordable Home Ownership Program is just the thing you need. It can get you into a home by funding the 5% down payment at a very affordable rate. Here’s a list of the main details:
- You must be able to qualify for a mortgage
- Must buy in Waterloo Region up to a max of $425,000
- Have a maximum household income of $96,000
- Be at least 18 years of age and currently renting
- Be a current resident of Waterloo Region and have lived in the Region for at least the past 12 months
- Not own or have an interest in a home
- Not owe money to a community housing landlord
- Be a legal resident of Canada
- Intend to have this home as your one and only residence
Here’s the link to the Affordable Home Ownership Program. If you are interested you will have to make an application with the Region. It would be a great idea to get in touch with a mortgage professional to begin the mortgage qualification process. I would be happy to put you in touch with some of my colleagues in the industry. Meanwhile, have a look at my listings.
