What is the Homeownership Program?

This program is funding through the Investment in Affordable Housing Program. It assists low to moderate income households currently renting a home in Lanark County or the Town of Smiths Falls to purchase a home by providing a forgivable down payment loan to a maximum of 5% of the purchase price of the home. The loan is forgivable after twenty years.

Eligibility requirements:

• Minimum age of 18 years
• Maximum household income $91,400
• Access to mortgage financing
• Home purchase price less than $305,372.00
• Home located in Lanark County or the Town of Smiths Falls
• Newly constructed or resale home (construction loans not available)
• Applicants must be renting in the County of Lanark or the Town of Smiths Falls

Annual funding is limited. Applications are approved on a first come first served basis.