The Renfrew County Housing Corporation (RCHC) wants to help you with your down payment.
Carol Neil, General Manager of RCHC says that their Homeownership Program provides low to mid income families with help when it comes to buying their first home.
She says the program’s interest-free loan deal does have guidelines. She says the RCHC’s down payment loan can only go up to 10% of the value of a home. The price tag of the home can’t exceed $227 097 and the household income can’t exceed $81 000 a year. The loan is registered, she says, and it is repayable interest-free over 20 years. Neil says that the only time it would change is if there would be a change in the agreement (if the homeowner passes away etc).
She adds that the program has been around since 2009 and that they believe it’s important for the county to provide options like these to its residents. She says that in 2017-2018 they expensed $249 000 with the program.
For more information you can call 613-432-3679 and ask for Tammy or visit the Renfrew County Housing Corporation by clicking here.