A local housing initiative is expanding because of changes in the market since the COVID-19 pandemic began.
That’s according to Chris Morrison, the United Counties’ Manager of Social Housing, who spoke with Moose FM about a recent change to the eligibility requirements for its “Homeownership Program.”
The initiative provides first-time buyers with a loan up to five percent of the value of their home, to put towards their down payment.
“We receive, from the province of Ontario, the maximum eligibility amount that we can charge,” Morrison explains. “In recent years, due to COVID, we hadn’t raised it, but given the current market, we raised it hoping to get as many people as possible into their homes for the first time.”
The change saw the maximum purchase price for eligibility increased to $470,000. If you want to find out if you’re eligible, Morrison says you should call the United Counties.
Meanwhile, if you’re struggling to pay for rent, he says his team could help you.
“We have a housing allowance program, that we can provide the gap between what someone’s rent is and what they can afford,” Morrison says.
If you want to learn more about either initiative, he says you can find more details on the United Counties website.