The Region of Peel’s Home in Peel Affordable Ownership Program is back again!
This program is designed to provide the low-to-moderate income residents who are currently renting a unit with the opportunity to qualify for down payment loan assistance. The main feature of the program is as under:
- The applicant must be 18 years old or older and have a total gross (pre-tax) household income not exceeding $80,000
- The maximum house price for program participants in the Region of Peel is $280,000
- The Down Payment Assistance will be up to $15,000
- Mortgage pre-approval required while submitting application under this program
- New homes are not eligible for purchase under the Home in Peel program
- Condo/Town Homes/Semi-Detached and Detached homes are eligible under this program
- Duplex, triplex or mobile homes do not qualify as eligible homes under the Home in Peel program
- The applicants must not own or have an interest in another residential property in Canada or elsewhere
- The home must be the Principal Residence of the purchaser, not a rental/investment property
- This program is suitable for qualified clients who does not have down payment. If you would like to apply under this program, please do so as this program is on first-come, first-serve basis.
Please contact AKAL Mortgage professionals to get yourself pre-approved or learn more about this program at 416.421.1300 or visit www.akalmortgages.com