Affordable Housing Assistance Program in London
The Affordable Home Ownership Program is a partnership between the Government of Canada, the Province of Ontario and the City of London through the Canada-Ontario Affordable Housing Program (AHP) which will create the opportunity to purchase Affordable Home Ownership units in the City of London and in Middlesex County.
Qualifying home buyers can:
- receive down payment assistance of 5% of the cost of the home under the program. The down payment assistance will be provided to eligible purchasers at the time of closing of the purchase and sale of the home.
- Qualifying home buyers can also receive another 3% of the cost of the home to assist in paying "closing costs" including legal fees and disbursements, and registration on title.
- No interest will be charged on the AHP 5% + 3% financial assistance.
- Eligible purchasers will be selected from those who:
- meet the eligibility requirements
- meet income criteria
- are approve for a mortgage at a recognized financial institution and
- have a signed purchase and sales agreement for a qualifying home.
For more information go to http://www.housing.london.ca/NewAffordableHousingProgram/HowToApply.htm or let me know and I can guide you through the process.