Provides down payment assistance to moderate income individuals and families giving them the opportunity to move from rental accommodation to homeownership

• Homeownership component of the Investment in Affordable Housing program provides up to 10% in down-payment assistance to households to aid them in purchasing a new house at or below a set maximum price (changes yearly)
• loan is forgivable if the applicant keeps the home for 20 years
• if the applicant sells the house, they have to repay the principal downpayment assistance plus 10% of capital gains
• this money will then go back into a revolving fund the county will maintain so it can be rolled back out again

A percentage of available funding will be designated for applicants currently living in Social Housing or those who self-identify as Aboriginal households

• must be a current resident of Simcoe County, including Barrie and Orillia
• must provide proof of mortgage pre-approval
  
• must be a renter household (please note: "Room & Board" and/or living with family does not qualify as "Renter Household" unless you are staying in a separate rental unit within the home that can be rented out upon your departure)
• cannot currently own a home or have any vested interest in a residence/land
• must provide proof of gross household income at or below $126,100 (updated periodically)
• personal assets, including any gifting amounts from friends or family, savings, GIC's, etc. cannot exceed $50,000. RRSP's of first-time home buyers count towards personal contributions as they can be accessed for home purchases as per Canada Revenue Agency guidelines
• no outstanding arrears if a former/current tenant of Social Housing in Ontario
• at least 18 years of age, Canadian citizen, permanent resident, or have Refugee Claimant status
• supply photo identification and birth certificate or other proof of status in Canada