County providing applications for new affordable housing program

With funding received under the Canada-Ontario Affordable Housing Program (AHP), the County of Simcoe has enhanced the opportunity for low to moderate income households to consider homeownership.

The AHP Homeownership Component has committed over $1 million to the county, to provide interest-free down payment assistance to 118 households.

The program provides up to five per cent in down payment assistance to help renters in purchasing a home.

The county recently launched the program.

Since then, staff have engaged in public information meetings in Midland and Barrie. Further meetings are scheduled for several locations throughout the region.

The program not only benefits renters but the community as a whole. It is intended to ease the demand on the rental housing supply by helping renters purchase affordable homes. Households who can afford a mortgage but can't come up with the down payment may benefit from the program.

Applicants must be renting a residence in the county, be at least 18 years old, and have a combined household income at or below $61,400. They cannot own or have an interest in a house or property and must be able to access mortgage financing. The deadline for applications is Dec. 14.

Demand for the program is expected to exceed the number of grants.

So, the county will hold a random draw Dec. 21. For more information, visit the county's website at www.simcoe.ca or call 725- 7215.