Down Payment Assistance Provided to 71 Households in the Regional Municipality of Niagara

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

ST. CATHARINES, February 10, 2009 — The Government of Canada and the Government of Ontario today announced more than $505,877 in funding to 71 households in the Regional Municipality of Niagara 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 Rick Dykstra, Member of Parliament for St. Catharines, 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 Kim Craitor, MPP for Niagara Falls, 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 MP Dykstra. “This investment will help people in Niagara access quality, affordable housing and start a new page in their lives.”

“I’m proud to announce there are 71 new homeowners in Niagara Region,” said MPP Craitor. “This funding allows people to get a foothold in the housing market, and alleviate some of the demand for affordable rental housing.”

The Regional Municipality of Niagara delivers the program, and has been instrumental in its success. For more information about the Homeownership program, and to receive an application, call 905-682-9201 ext. 3952, or visit http://www.nrh.ca/applicants/welcome.shtml.

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/2009/2009-02-10-1000b.cfm

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