Home Ownership Assistance Loan in Peterborough




The City of Peterborough is offering a $12,000 loan for people who are currently renting and are buying a home in the City or County of Peterborough. The eligibility criteria for this Program include, but are not limited to, the following:



  • Are Currently Renting;
  • Do not presently own a home or property;
  • Do not owe money to a social housing landlord;
  • Have an annual total household income up to $69,800 (gross);
  • Will use the purchased home as the sole and principal residence;
  • Qualify for a mortgage from a CMHC approved lender and;
  • Are at least 18 years old

The Home:

  • Is purchased for a price that does not exceed $240,000;
  • Is a single detached, semi-detached, townhouse, row or apartment unit (freehold or condominium);
  • Is inspected by a professional home inspector (resale homes only); or
  • Is covered under the Ontario New Home Warranty Program (new homes only);
  • Is located in the City or County of Peterborough; and
  • Is of a modest size (approx. 1100 sq. ft for a 3 bedroom home)

 Other Key Points:

  • Canada Mortgage and Housing Corporation (CMHC) mortgage insurance treats the $12,000 loan as equity.
  • The loan is forgiven if the recipient maintains the home as their primary residence for 20 years.
  • The loan is registered on title as a second mortgage on closing
  • Application Process:

            Step 1  -  Application to determine eligibility

                         -  Requires mortgage pre-approval

            Step 2   -  Requires signed-back Agreement of Purchase and Sale with a minimum of 30 days notice of closing date

                         -  Signed-back Loan Agreement to receive loan upon closing

  • Loans will be offered, subject to availability, on a first-come, first-serve basis to eligible applicants who complete Step 2 before December 16, 2013



The City of Peterborough is offering the home ownership assistance loans for eligible applicants, beginning April 2, 2013. The Home Ownership program, a one (1) year funding initiative, can assist potential homeowners afford a mortgage downpayment.

If you are currently renting and are interested in purchasing a home in the City or County of Peterborough, please call 705-742-7777 ext. 4663 (HOME) or email housing@peterborough.ca.


 SOURCE: City of Peterborough


Do you have questions about the Home Ownership Loan that is currently available in Peterborough? Please feel free to give me a call should you have any questions, I'd be happy to help! 705-313-0806


Smarter, Bolder, Faster

Crystal Edwards

Sales Representative

CENTURY 21 United Realty Inc. Brokerage*
Independently Owned and Operated
387 George St. South, P.O Box 178
Peterborough, ON, K9J 6Y8

Cell: 705-313-0806

Office: 705-743-4444
Toll Free: 1-877-272-4040
Fax: 705-743-9606

Email: crystal.edwards@century21.ca

Facebook: www.crystaledwards.ca

Crystal Edwards

Crystal Edwards

Sales Representative
CENTURY 21 United Realty Inc., Brokerage*
Contact Me