County of Simcoe
The Affordable Home-ownership Program aims to assist low-to-moderate income renter households, in Simcoe County, to purchase an affordable home by providing 10% down payment assistance in the form of a forgivable loan.
Down payment assistance is 10% of the purchase price (Up to a maximum of $50,000.00)
Eligible Homes Considered
- Homes must be located in Simcoe County.
- Purchase price must be at or below $712,300.00.
- …more
Minimum Household Eligibility
- Must be a current resident of Simcoe County, including the cities of 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 $121,500.00.
- …more
Conditions for Repayment
- No repayment of the loan if home is sold after 20 years.
- If the home is sold before 20 year period expires, you must repay the original loan plus
10% of the capital appreciation - …more
How to Apply
- Mortgage Pre-Approval – Please contact a mortgage broker, trust company, credit
union, bank or other qualified lender of your choice to apply for a no cost mortgage
pre-approval. - …more
Applicants are encouraged to apply even though there is a waiting list.