Affordable home ownership program starts again

Mar 14 • Business, Feature StoryNo Comments on Affordable home ownership program starts again

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The Municipality of Chatham-Kent Housing Services has announced that the “Investment in Affordable-Extension” (IAH-E) Home Ownership program will begin providing loans again starting April 1.

It is now accepting applications.

The program provides down payment assistance to qualified low-to moderate-income households. Households with a combined gross income of $68,000 or less can apply for the IAH-E Home Ownership Program for the purchase of new or re-sale homes.

For the April 1, 2017 – March 31, 2018 provincial fiscal year, the municipality has an allocation of $109,500.

Qualified applicants are eligible for an interest-free down-payment loan of seven per cent of the purchase price of the home, to a maximum of $7,300. The funding is provided in the form of a 20-year interest-free loan registered on title.

The purchase price of the home must not exceed $153,900.

Applicants must be at least 18 years old and currently rent in Chatham-Kent.

For re-sale home purchases, a written home inspection from a certified home inspector is required at the homebuyer’s expense.

Applications are processed on a first come/first served basis.

More information regarding the Affordable Home Ownership Program is available by visiting the municipal website at Affordable Home Ownership.

Anyone interested in participating in the program should contact Housing Claims Analyst Nicole McCutcheon at 519-351-8573 or by e-mail at nicole.mccutcheon@chatham-kent.ca

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