Government Grant Waiting List
WAITING LIST APPLICATION
The purpose of the Homeownership Component of the Canada-Ontario Affordable Housing Program (AHP) is to provide down payment assistance in the form of a forgivable loan to eligible individuals and families for the purchase of a home.
The County of Simcoe has committed to delivering the Homeownership Program for a minimum of 15 years. Therefore, any down payment assistance that is paid back to the County by purchasers is held in a ‘Revolving Fund’ to be redistributed to future home owners.
The purpose of this Application is to be placed on a waiting list for future funding.
- Funding is available on a first come, first served basis.
- When your name comes up on the waiting list, you will be advised of the maximum purchase price of the home and amount of down payment available
Eligible Homes Considered
- Homes must be modest in size and located in Simcoe County
- You will be advised of the maximum purchase price when your name comes up on the waiting list
- Persons seeking funds to offset construction costs on land that they currently own are not eligible for funding
- Units may be detached, semi-detached, condominiums, stacked homes, row/town houses, or apartments (mobile homes and homes on reserve land are ineligible)
- The AHP down payment assistance loan is considered by CMHC as homeowner equity for the purposes of securing CMHC mortgage insurance.
- The AHP Loan is registered on title.
Minimum Household Eligibility
- Must be a renter household buying a sole and principal residence
- Cannot currently own a home or have any vested interest in a residence/land
- Must provide proof of gross household income at or below $73,500
- Have assets of no more than $20,000
- No outstanding arrears if a former tenant of social housing in Ontario
- At lease 18 years of age, Canadian citizen, landed immigrant, or have Refugee Claimant status
- Supply photo identification and birth certificate
- Provide documentation showing mortgage pre-approval upon request
- Only complete applications will be considered
- An application must have all information entered, and all supporting documentation provided to be considered complete
- Incomplete applications will be returned
Conditions for Repayment
- No repayment of the loan if home is sold after 20 years
- If the home is sold before 20 year period expires, you must repay the original loan plus a percentage of the realized capital gain
- If the home is sold before 20 year period expires and seller experiences a capital loss, repayment would be forgiven provided the sale meets the following criteria:
- the unit is sold at a fair market value; and
- the purchase and sale of the unit is an arm’s-length transaction
- If the purchaser is in default of any term of the Loan Agreement within 20 years of the date of purchase, it is deemed a sale and the loan, plus a percentage of the increase in market value, becomes immediately due.
Please complete and return this application along with all necessary documentation to:
County of Simcoe
Social Housing Department
1110 Hwy. 26 West
Midhurst, ON L0L 1X0
705 722-4720 FAX
other household members who will be living with you
1.__________________________________ Date of Birth MM ____ Day ____ Year ________
2.__________________________________ Date of Birth MM ____ Day ____ Year ________
3.__________________________________ Date of Birth MM ____ Day ____ Year ________
Check ‘Yes or No’ for the following:
YOU MUST ATTACH THE FOLLOWING DOCUMENTATION TO THIS APPLICATION