County of Wellington
The Wellington Affordable Homeownership Down Payment Loan Fund was established to provide
households with an interest-free loan to assist them in purchasing their own home. The program will
assist eligible applicants with a down payment (up to 10% of the purchase price to a maximum of $20,000.)
for the purchase of a home within the geographic area of the County of Wellington or the City of Guelph.
Eligibility of Applicants:
- Are currently renting;
- Do not presently own a home or have a vested interest in a property;
- Have a maximum gross annual household income of $109,000 (2023/2024)
- …more
Eligibility of the property:
- Is purchased for a price that does not exceed $830,444 (subject to revision);
- Is a single detached, semi-detached, townhouse, row or apartment unit (freehold
or condominium); including conversions from non-residential use - …more
Key points:
- Canada Mortgage and Housing Corporation (CMHC) will consider this loan as equity
- The loan is forgiven if the new home owner maintains the home as their primary residence for 20 years
- The loan is registered on title as a second mortgage with the County of Wellington listed as a loss payee
on closing - …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
Complete your mortgage assessment