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First time buyer? No down payment? We know your frustration. You go to work every day, pay your bills, and at the end of the month (after you’ve made someone else’s mortgage payment) you’re left with very little cash in your pocket. House prices continue to rise and home ownership is looking less and less like a reality. The government has taken away your ability to use a cash back program for your down payment, and the increased interest rates on those programs reduces your purchase price pushing you into a home you may not love, but is affordable. Don’t give up hope just yet – we have a solution : the Canada-Ontario Affordable Housing Program (COAHP). The County of Simcoe has developed the COAHP program to assist renters in purchasing their first home. This grant program targets individuals who:

  •          Are currently renting
  •   Are over the age of 18
  •   Have an annual income of less than $81,000
  •   Have less than $20,000 in liquid assets
  •   Have a home purchase in Simcoe County of less than $291,814

The grant program gives qualified buyers a 10% down payment. With this down payment buyers are subject to lower CMHC premiums and interest rates. And because they have a significant down payment their maximum purchase price increases –getting them closer to their dream home.


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