In May, 2008, The Region of Peel received $2.85 million under the Canada-Ontario Affordable Home Ownership Program that is designed to provide low-to-moderate income residents who are currently renting a unit, the opportunity to qualify for down payment loan assistance.

Under the program, the down payment allocation is considered a forgivable loan after 20 years of ownership.

Also, did you know that first-time buyers of resale homes can also take advantage of the Land Transfer Tax Refund of up to $2,000 from the provincial government. Applications and further program information regarding Downpayment assistance and land transfer tax rebates for First Time Home Buyers can be obtained by clicking here, or contacting us at (905) 452-7272 or via email at moira.robinson@sympatico.ca.  Applications and additional information will be provided.

The end date of this program as per the provincial funding timeline is March 31, 2009.

Source:  The Region of Peel

Now is the PERFECT TIME for First Time Home Buyers to purchase their new First Home!!  Contact us for further details.