The Homeownership Program provides down payment assistance to eligible households through federal/provincial funding. This assistance is in the form of a 20 year forgivable loan.
Eligible households must meet a list of criteria including the following:
- Must be a renter household.
- Cannot currently own a home or have interest in a residence/land.
- Must be a current resident of the District of Nipissing
Eligible homes must meet a list of criteria including the following:
- May be detached, semi-detached, condominiums, stacked homes or row/town houses.
- Must be located in the district of Nipissing.
The loan is 10% of the purchase price of a home. If the home remains your sole and principle residence, the loan is fully forgiven after 20 years and there is no requirement for repayment.