You are paying high rent and it's hard to save for a downpayment? Here is some help!

With the high rents that we have been seeing, the main obstacle to homeownership for a significant proportion of tenants is the downpayment.

If you are renting in Simcoe County and planning to purchase a home within Simcoe County, you might qualify for a grant of up to 10% of purchase price to a maximum of $50,000 to help with the downpayment.

Here is the link to the program details: https://www.simcoe.ca/.../apply-for-the-homeownership...

The County's website and material are not updated yet with the new limits, however I got confirmation of the following and there is no waiting list at the present time:

The new maximums are:

- Purchase Price: $712,300 (up from $593,879)

- Applicant Household Income: $121,500 (up from $103,200)

- The maximum funding remains at $50,000.

- Maximum asset limit of the household remains at $20,000

You might be asking yourself; Are there even homes on the market within this limit? Yes there are!

HOMES UNDER $712,300 in Simcoe County: https://myre.io/0jo322llrpMv

Need more expert advice? Just reach out, it's always a pleasure to help!

Pascal Chouinard | Broker | eXp Realty Brokerage