First time home buyers

Did you know that I can help you with obtaining a down payment for your first purchase?

The Federal and Provincial governments have partnered with the County of Lambton to fund the Homeownership Down Payment Assistance Program.   The purpose of the County of Lambton's Homeownership Down Payment Assistance Program is to provide eligible households living in rental accommodations with a 10% down payment towards the purchase of a new or resale home. The home must be located in Lambton County and the price indicated on the purchase of sale agreement cannot exceed $325,000.  Completed applications are processed for eligibility and funding awarded on a first come first serve basis based on the receipt of a fully executed Purchase of Sale Agreement. Program recipients are required to sign a Loan Agreement allowing the County of Lambton to be registered as a second mortgage on the title of the property. The County of Lambton shall in no case be lower than second position on the title of the property.   Funding is provided in the form of a 20 year forgivable loan to the participant. The loan is payment free, interest free and forgiven after 20 years as long as the participant complies with program rules at all times.   If the home is sold before 20 year period expires or the purchaser is in default of any terms of the Loan Agreement within 20 years of the date of purchase, the homeowner must repay the original loan plus a percentage of the realized capital gain. 

Contact me today for more information

Michelle Parks 519-918-2942