The Federal and Provincial governments have provided funding to make homeownership affordable for low and moderate-income households. Eligible homes may be either a new build or a resale .

Funding will be provided by the province upon receipt of fully executed purchase and sale agreements until all funding is depleted for the County.

This Program Currently Concluded. All available 2010 funding has been committed.

Eligible Units

• Resale homes with the condition of a current home inspection
• New units, including conversions from non-residential use that qualify for Tarion's New Home Warranty
• Units may be detached, semi-detached, town (condo and free-hold), stacked homes, row houses or apartments
• Homes must be modest in size as determined by the Province and the County of Huron

Homeownership Assistance Levels

The Homeownership assistance will be used as a down payment on the purchase of a new home. The amount of the assistance will be up to 10% of the cost of an eligible home to a maximum amount of $21,300 and will be provided at the time of closing of the purchase and sale of the home.

No interest will be charged on the assistance. Appropriate documentation will be in place to secure the down payment assistance on title.

Maximum Purchase Price

The purchaser's housing costs must be at or below the average market-selling price for the area and must not exceed $213,000. Units are to be located in urban revitalization areas as defined by the County of Huron.

Household Eligibility

To be eligible for down payment assistance under the Homeownership component of the AHP, prospective purchasers must meet the following minimum criteria:

• Be a renter household buying a sole and principal residence
• Household incomes must not exceed $67,000
• Meet any additional criteria established and communicated by the County of Huron

Eligible applicants who meet all specified requirements and are qualified for mortgage at a recognized financial institution will be selected on a continuous basis until the government funds are depleted.

Security Agreements

The County of Huron will register an appropriate security agreement (e.g. a mortgage) with the purchaser on title to provide a mechanism for the repayment of the down payment assistance and ten percent of the realized capital gains to the Homeownership Revolving Fund, when ownership changes as a result of the sale of the house.

Conditions for Repayment by a Homeowner

The program has a 20 year affordability period. If a house that is purchased under this program is sold before the 20 year affordability period expires, the homeowner is required to repay the original AHP contribution plus ten per cent of the realized capital gains. Contributions repaid to the County's Homeownership Revolving Fund are to be redistributed under the Homeownership component in the County. If the home is sold after 20 years, there will not be a repayment of the contribution or capital gains to the revolving fund.

For Further Information:

Contact Barbara Hall, Housing Services Manager at:
Huron County Housing Services
77722D London Road, R.R. #5
Clinton, ON N0M 1L0
519.482.8505 ext. 254 or 1.888.371.5718