The municipality is opening the door to owning your own home.
Applications are now being accepted for affordable home ownership grants.
Beth Earley, program manager of housing services with the municipality, says they have enough funds to provide down-payment assistance to 15 future homeowners. There's no deadline to apply, as the program is open until funding runs out.
"What we found last year because the real-estate market is quite hot ... is by the end of July, we were out of funding," she says. "But we've also seen in years that we've had funding up until October or November."
The funding is provided in the form of a 20-year, interest-free loan worth 7% of the purchase price of the home, to a maximum of $7,300. The home's purchase price cannot exceed $153,900.
Earley says applicants must also have a combined gross income of $68,000 or less.
"The intention is to allow people who have a good credit score, but may not have the ability to save for a down payment, to get themselves and their family equity by owning their own homes," says Earley.
-With files from Paul Pedro.
