Lanark County participates in the Canada-Ontario Affordable Housing Program, a program to assist those renting to afford a home. How it works, you must:
- rent in Lanark County
- be at least 18 years old
- have a combined income of less than $74,700
- qualify for a traditional mortgage
The home to be purchased must be in Lanark County, and the selling price must be less than $250,000.
The 5% downpayment is loaned and registered as a 2nd mortgage on the property.
For more information please visit http://www.lanarkcounty.ca/page373.aspx