Down Payment Assistance Provided to 108 Households in County of Simcoe

Posted by: Toronto Real Estate Admin / Category: News Bulletin

Canada ontario

SIMCOE, February 10, 2009 — The Government of Canada and the Government of Ontario today announced more than $847,000 in funding to 108 households in the County of Simcoe under the Homeownership component of the Canada – Ontario Affordable Housing Program. The Homeownership component of the program provides down-payment assistance for low-income renters to enter the housing market and purchase homes.
 
The announcement was made by Helena Guergis, Minister of State for Status of Women and Member of Parliament for Simcoe – Grey, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Aileen Carroll, MPP for Barrie and Minister of Culture and Minister Responsible for Seniors, on behalf of the Honourable Jim Watson, Ontario’s Minister of Municipal Affairs and Housing.

“The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most,” said Minister Guergis. “This investment will help people in the County of Simcoe access quality, affordable housing and start a new page in their lives.”
 
“There are 108 new homeowners in the County of Simcoe because of this excellent government initiative,” said Minister Carroll. “This funding allows people to get a foothold in the housing market.  In so doing, it frees up more affordable rental housing, which is much needed in Simcoe County.”

The Canada – Ontario Affordable Housing Program comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario. Under the AHP, every region in Ontario has been allocated a specific amount of funding to assist low to moderate-income rental households to purchase affordable homes through interest-free down payment assistance loans.

Media Inquiries:

For more information visit: www.ontario.ca/housing

Article source: http://www.cmhc.ca/en/corp/nero/nere/2009/2009-02-10-1000d.cfm

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