Free 5% Down Payment Assistance

Supporting first-time home buyers in our communities

• Non-repayable down payment assistance loan

• Recognized by lenders and CMHC as owner equity

• Buy any type of home in any area of Grey County

• Up to $400,000 purchase price

• Additional funds for creation of secondary suites

Three down payment assistance programs

In Grey County, there are two funding programs that provide a free 5% down payment for long-term ownership in the form of a non-repayable loan. Simcoe County has it’s own down payment assistance program.

• Grey County’s Investment in Affordable Housing Homeownership Program
• Town of Blue Mountains Down Payment Assistance Program
• Simcoe County Affordable Ownership Program

The rules vary for each program but the general guidelines are:

• Property must in be in the Town of the Blue Mountains, Grey County, or Simcoe County
• Asset limits may apply; check program for details
• Maximum household incomes apply
• Purchased home will be the sole and principal residence
• Applicants must be able to quaify for a mortgage without a co-signor

The loan is recognized as equity, or a cash down payment equivalent, by CMHC and lenders. The programs are available every year starting April 1 and continue until spent. Put your name on a waiting list early to avoid disappointment.

Contact our office for more information on becoming a home owner.

Secondary suites grant program

This program is offered by the Town of Blue Mountains to assist local homeowners with the costs to create a secondary rental suite in their primary residence. A maximum of 10% of the renovation cost is allowed to a maximum of $5000. Here are some of the terms and conditions:

• Applicant must be 18 years of age or older
• Property must be in the Town of The Blue Mountains
• Property taxes must be up-to-date
• Creation of the secondary suite must comply with all municipal/building regulations
• Applicant must be the owner of a single detached, semi-detached or townhouse dwelling on serviced property, or a detached building accessory to any of these dwelling types
• For an applicant on a rural property, an accessory apartment is permitted within a detached structure or accessory detached building

To apply, visit The Blue Mountains Attainable Housing Corporation website.

Questions? Please feel welcome to contact me any time. I have experience with these programs and would like to help you find your first home.