First Time Buyer Incentive

1. REGION OF WATERLOO AFFORDABLE HOME OWNERSHIP

The program provides qualified low to moderate-income households with down payment assistance
loans of 5% of the purchase price of an eligible home (the current maximum purchase price is $506,000).

Recipients of the loan can purchase a new or resale home that is located in the Waterloo Region and has a maximum purchase price of $506,000.  Do you want to download the information sheet, click on the button that applies on the right for more information.

2. DUFFERIN COUNTY HOMEOWNERSHIP PROGRAM

The Dufferin Homeownership Program provides an interest-free down payment assistance loan of up to ten percent (10%) of the cost of an eligible home, up to a maximum of $60,911.00. 

Homes eligible under this program include:

•  new or resale homes; detached, semi-detached, townhouses, stacked or condominiums
•  A single-family residential home
• The selling price of the home must not exceed $609,118.00
• A home inspection is required at the homeowner's expense if purchasing a re-sale home.

3. CMHC FIRST-TIME BUYER INCENTIVE PLAN

The Incentive would allow eligible first-time homebuyers, who have the minimum
down payment for an insured mortgage, to apply to finance a portion of their
home purchase through a form of shared equity mortgage with the Government
of Canada.

The Incentive enables first-time homebuyers to reduce their monthly mortgage
payment, without increasing the amount that they must save for a down payment.
No ongoing repayments are required, the Incentive is not interest-bearing, and
the homeowner can repay the Incentive at any time without a pre-payment penalty.