Homeownership Program
The Homeownership Program helps make homeownership possible for low to moderate-income households in Niagara. It also reduces demand for rental housing by assisting renters in purchasing affordable homes.
Program Benefits:
Provides down payment assistance through an interest-free loan of up to 10% of the purchase price, with a maximum of $66,774.80.
Encourages the construction of affordable housing by developers.
For an application, contact:
Jason Serroul 📞 905-401-4009
📧 Email: Jasons@remax-gc.com
Michael Martin 📞 289-687-6648
📧 Email: michaelmartin@remax-gc.com
Marissa Kerr 📞 613-793-1598
📧 Email: contact@marissakerr.com
Buyer Eligibility
To qualify for a down payment loan, buyers must:
Be a Canadian citizen, landed immigrant, or refugee claimant with no outstanding removal order.
Be a current resident of Niagara and at least 18 years old.
Not own or have an interest in any residential properties or owe arrears to a government-assisted housing provider.
Be a renter household or first-time homebuyer (those paying room and board or living with family/friends do not qualify).
Have never previously owned a home or had an ownership interest in one.
Have a gross annual household income below:
$95,000 for a one-person household.
$113,000 for a multi-person household.
Have personal assets below $50,000, including RRSPs and any gifted funds.
Qualify for a mortgage from a recognized financial institution and provide proof.
Submit a fully executed Agreement of Purchase and Sale within 60 days of receiving a Conditional Letter of Commitment.
Cover all costs associated with finalizing the home purchase and provide proof of ability to do so.
Home Eligibility
To qualify, homes must:
Be located in Niagara.
Undergo a home inspection (required for resale homes, recommended for new homes, paid for by the buyer).
Have a maximum purchase price of $667,748 (subject to updates from the Ministry of Municipal Affairs and Housing).
Be modest in size and features and can include detached, semi-detached, row houses, townhouses, duplexes, or condominiums.
Not be a property where the buyer or their family has an ownership interest.
Not include mobile homes or multi-residential properties (e.g., triplexes).
How to Apply
Step 1: Contact us for an application.
Step 2: Get pre-approved for a mortgage.
Step 3: Submit an application.
Step 4: Receive final approval.
Step 5: Start searching for your home :).
