Down Payment Assistance Provided to 11 Households in the County of Renfrew
RENFREW - The Government of Canada and the Government of Ontario today announced more than $86,000 in funding to 11 households in the County of Renfrew under the Homeownership component of the Canada-Ontario Affordable Housing Program. This funding will help renter households enter the housing market through interest-free down-payment assistance loans.
The announcement was made by Cheryl Gallant, Member of Parliament for Renfrew-Nipissing- Pembroke, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Jim Watson, Ontario's Minister of Municipal Affairs and Housing.
"The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most," said MP Gallant. "This investment will help people in the County of Renfrew access quality, affordable housing and start a new page in their lives."
"I'm proud to announce that 11 more households in Renfrew are now homeowners," said Minister Watson. "This funding allows people to get a foothold in the housing market, and alleviate some of the demand for affordable rental housing."
The Canada - Ontario Affordable Housing Program comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario. Under the program, every region in Ontario has been allocated a specific amount of funding to assist low to moderate-income rental households to purchase affordable homes through interest-free down-payment assistance loans.