Time is running out if you want a helping hand in purchasing a home in Bruce County.
It’s called the Canada Ontario Affordable Housing Program and if you qualify the program will loan you the money for that five per cent down payment, interest-free.
The Manager of housing services for Bruce County Susan Earle says the program comes to an end on March 31st and they still have $100,000 in the kitty.
So far there have been 46 successful applicants throughout the county but primarily in the Brockton, North Bruce Peninsula and South Bruce Peninsula areas.
Loans have totalled almost 300 thousand dollars so far.
Earle says the loan has to be approved by the end of March but the purchase of the home can happen after that.
Earle says the applicant needs to have already received approval for a mortgage before applying for this loan.
Any renter or renter’s family with incomes up to 65 thousand dollars can apply for the program.
She says homes can list for as much as 200 thousand dollars.
The loan is interest free and only needs to be paid back on the sale of home, however, if you’ve had the home for over 20-years there is no need to pay back the loan at all.
If you want further information on this housing program, give Susan Earle a call at 519-396-3450, extension 106.