Category Archives: Government grants

Montreal Home Ownership Financial Assistance Program

Montreal Home Ownership Financial Assistance Program

Are you dreaming of a property in Montréal?

With its many benefits, the Montreal Home Ownership Financial Assistance Program could make your dream more attainable.

Montreal Home Ownership Financial Assistance Program
Get a latest copy of
Directory of Forgivable real estate grants,
rebates and tax credits at 
www.GovernmentGrantsCanada.ca

If you’re buying a property for the first time,
take advantage of:

A lump sum financial assistance when you purchase a new property;
A refund of your “welcome” tax if you are a family with at least
one child who is under 18 and you purchase a new property or
an existing residential building with 1, 2 or 3 above-ground dwelling units;
Easier eligibility to the Ville de Montréal Major Residential Renovation
and Renovation à la carte programs when you purchase an existing
residential building with 1, 2 or 3 above-ground dwelling units.

If you already own a property, or have owned one in the last
five years, you are entitled to receive:

A refund of your “welcome” tax if you are a family with
at least one child under 18 and you purchase a new property
having at least 3 closed bedrooms with windows.
Bonus for families!

Families with at least one child who is under 18 are entitled to receive:

6 months of free public transit on purchase of a one-year
OPUS full-fare pass (one free pass per household);
2 Accès Montréal cards to take advantage of discounts
on many activities offered in the cultural metropolis.

Who is eligible for Montreal Home Ownership Financial Assistance Program

Households who buy a first property
that is a new residential unit;
Families with at least one child under 18
who buy a first property that is an existing
residential building with 1, 2 or 3 above-ground d
welling units;
Families with at least one child under 18 who
already own a property (or have owned one in
the last 5 years) and purchase a newly-built 3-bedroom property.
What type of property is eligible?
The purchase in Montréal of one of the following

types of properties can qualify for financial assistance:

A new residential unit whose total purchase price,
including taxes and extras, does not exceed the stipulated amount;
An existing, exclusively residential building whose
purchase price does not exceed the stipulated amount
and that includes 1, 2 or 3 above-ground dwelling units.
For buildings with 2 or 3 above-ground dwelling units,
at least one of them must be offered for rent on the
date that the financial assistance is paid.

Are there any specific program requirements?

For all property types:

The buyer is a physical person.
Each of the applicants must prove that he/she
has not owned a residential property in Québec
in the last 5 years, including as a result of an
inheritance. Families who have owned a property
in the last 5 years can still get a transfer tax refund
if they purchase a new, 3-bedroom family housing unit.
This 5-year period is based on the dates when the sale
of the previous property and the purchase of the new
one were recorded in the Land register.

To be considered a household with children, the household
must include at least one child who is under 18 years of
age on the date of purchase or who will be born or adopted
within 9 months of that date. In addition, the child must
reside with the applicant at least 40 % of the time.
The date of purchase is the date of registration of the
transaction in the Land register.

Montreal Home Ownership Financial Assistance Program

When the application for financial assistance is made
following the signing of an offer-to-purchase (preliminary contract),
the delay between the submission of the application and the
anticipated date of the transaction (deed of sale) must not
exceed 18 months. Applicants then have 6 months from the
date of purchase to provide all documents required to receive
payment of the financial assistance.

When the application for financial assistance is made on the
basis of a deed of sale, it must be submitted within 6 months
of the date of purchase. Applicants then have 6 months from
the approval of the financial assistance to provide all documents
required to receive payment of the financial assistance.

For new properties:

The applicant must be the first buyer of the property.
The property must not have been occupied before
it was purchased, except by the applicant and only
for a maximum of 12 months before the date of purchase.
The property must be registered under a warranty
program for new homes, provided by a recognized builders’ association.

For existing residential buildings:

The purchase of an existing residential building
that includes 1, 2 or 3 above-ground dwelling units
and that has no other main use, is eligible for financial
assistance. In the case of an existing building with 2 or 3
above-ground units, at least one of the apartments
must be rented out on the date that the financial assistance is paid.
The building must have been constructed or converted
into a residential building for at least 10 years.
The building must not be a divided co-ownership at
the time of purchase, except in the case of an existing
residential building with a single above-ground unit.
In addition, the owner cannot apply for such a conversion
while the application for financial assistance is being processed.

DISCLAIMER

We believe the information contained in this
article to be accurate.It is presented with the
understanding that we are not engaged in
rendering legal,accounting, or investment advice.
When professional assistance is required,
utilize the services of a licensed real estate
broker, lawyer, accountant,
or other consultant as may be required.

Montreal Home Ownership Financial Assistance Program
Tickets for LIVE CRASH COURSE at http://www.Flipping4Profit.ca

Forgivable Loans Ottawa, Disabled, Low Income Senior Home Owners

Forgivable Loans Ottawa, Disabled, Low Income Senior Home Owners

Ontario Renovates program

The Ontario Renovates program administered
by the City’s Housing Services branch
(“Housing Services”), provides limited funding to
low income seniors and to persons with disabilities
who own their home for necessary repairs and
accessibility modifications to support independent living.

Forgivable Loans Ottawa, Disabled, Low Income Senior Home Owners
Eligibility of applicants

Homeowners who are 65 years of age or older
People with disabilities
Families with a household member(s)
who is a senior or person with a disability
may be eligible if property value and income
criteria are also met (criteria listed below)
The income requirements are based on
household size and are described in the table below:

Ontario Renovates income requirements for homeowners

Household Size Maximum Gross Annual Income
One person $36,075.00
Two person $44,160.00
Three person $53,610.00
Four person $64,320.00
Five person $72,510.00
Six person $81,435.00
Seven or more person $88,900.00
Eligibility of property
Forgivable Loans Ottawa, Disabled, Low Income Senior Home Owners
Your property may be eligible for the program if it is:

Located in the City of Ottawa;

Valued at or under $408,030 as determined by
the province and verified by the owners most
recent property tax or MPAC assessment; and
Your sole and primary residence.

Eligibility of repairs and accessibility modifications

Your home may be eligible for the program
if it requires repairs and/or modifications to
make it safer, more accessible and more
energy efficient. Examples of acceptable
repairs and modifications include, but are not limited to:

electrical and heating systems including chimneys
doors and windows
foundations, roofs, walls, floors and ceilings
plumbing
septic systems, well water, and well drilling
fire safety
cues for doorbells or fire alarms
ramps, handrails, chair and bath lifts,
height-adjusted countertops
Please note that any repairs or
modifications carried out before the
loan or grant is approved in writing and a
funding agreement is signed are not eligible
and will not be reimbursed.

Scope of funding

The program provides funding in the form o
f a forgivable loan and/or grant for eligible applicants
or participants up to a maximum amount of $18,500:

Grants up to five thousand dollars ($5,000) can
only be used for accessibility modifications to the home.
Forgivable loans up to fifteen thousand dollars ($15,000)
can be used for both accessibility modifications and
essential repairs and must be approved by the
program administration.
The loan will be forgiven if you continue to own
and live in the house for ten (10) years after the
repairs or modifications have been completed.
The amount of the loan is contingent on the total
grant amount taken to equal a maximum of
$18,500 in total funding received by the applicant.
Eligible households can only receive the loan/grant
amount that is verified by quotes for projects.

Forgivable Loans Ottawa, Disabled, Low Income Senior Home Owners
Duration of program

Housing Services is accepting applications and will
continue to do so until all funds are spent or
until March 31st, 2018, whichever comes first.

Timelines

Once the Housing Services branch has received
the application, the applicant will be contacted
by letter declaring eligibility or non-eligibility.
Applicants will also be notified if documents are missing.

Forgivable Loans Ottawa, Disabled, Low Income Senior Home Owners

Use of funds

Funds awarded can only be used for the purposes
outlined in the Funding Agreement with Housing
Services. If the cost of the necessary repairs or
modifications is more than the maximum amount
of the grant and/or loan provided, you, as the
property owner, may have to cover the additional cost.

Reporting and follow-up

Housing Services may follow up with you annually
to determine if you are the title owner of the property.
If you sell or move within 10 years of receiving a
forgivable loan, you will be required to pay all or a
portion of the loan back to the City.

How to apply for Forgivable Loans Ottawa, Disabled, Low Income Senior Home Owners

Print and complete this application form PDF
opens in a new tab or window [PDF – 162KB]
and provide all necessary documents
Print this checklist PDF opens in a new tab or window
Contact the program at the phone number or
email address below to request an application
package be mailed to you
All applications with necessary documents
must be mailed or delivered to:

City of Ottawa
Housing Services branch
Ontario Renovates program
100 Constellation Drive, 8th Floor West
Ottawa, ON, K2G 6J8
Inquiries

For more information about the Ontario Renovates program,
please call our information line at 613-580-2424 ext. 12300
email Ontariorenovates@ottawa.ca

Ottawa-Ontario Rooming House Renovation Program

Forgivable loans up to $10,000/room in Ottawa-Ontario Rooming House Renovation Program

Rooming House Renovation Program

The Rooming House Renovation Program falls under the Ontario Renovates Program that is administered by the City’s Housing Services branch (“Housing Services”) and provides limited funding to qualifying landlords for essential repairs and renovations as well funding to modify existing unit(s) or building(s) to make them more accessible and in compliance with the Accessibility for Ontarians with Disabilities Act, 2005.

Ottawa-Ontario Rooming House Renovation Program

 

 

 

 

 

 

Get a latest copy of
Directory of Forgivable real estate grants,
rebates and tax credits at 
www.GovernmentGrantsCanada.ca

Ottawa-Ontario Rooming House Renovation Program Eligibility of applicants

A rooming house property may be eligible for the program if it is:

Located in the City of Ottawa Modest unit relative to community norms in terms of floor space and amenities;
Rent affordability based on 60% of the Average Market Rent (AMR) for Ottawa – (rent table is below (updated yearly by CMHC Rental Market Report));
A rooming house that require essential repairs and/or energy efficiency upgradesA rooming house that require modifications to increase accessibility;
A rooming house that is in good standing with the City of Ottawa (or) actively working towards compliance as determined by the City

Ottawa-Ontario Rooming House Renovation Program Monthly Rent

Unit Type 60% of Average Market Rent
Residential services home/Rooming House Up to $589.20
Examples of essential repairs

Examples of essential repairs include, but are not limited to:

Replacement of windows to energy efficient double pane, low E argon windows;
Roof replacements using attic insulation to a minimum of R40Furnace and/or heating equipment;
Toilet replacement with low-flush or dual-flush toilet (6 litres per flush or less);
Replacement of water heater with an ENERGY STAR qualified instantaneous water heater;
Modifications of kitchen and bathrooms;
Other items will be reviewed and considered that improve the quality of the dwelling for the tenants.
Ottawa-Ontario Rooming House Renovation Program
Examples of accessibility modifications

Examples of acceptable accessibility modifications include, but are not limited to:

Ramps;
Handrails;
Chair and bath lifts;
Counter tops height adjustments;
Cues for doorbells and fire alarms.

Rooming House Renovation Program Scope of funding

The program provides funding in the form of forgivable loans to qualifying landlords:

Forgivable loans up to ten thousand dollars ($10,000) per rooming unit (room) up to a maximum of $100,000 per property;
Total loan is dependent on how many rental units are in the rooming house and the scope of repairs approved by the Housing Services Branch;
The loan will be totally forgiven if rent levels are maintained for the full 15 years as per CMHC Rental Market Report;
1/15 (6.67%) of the total loan will be forgiven each year;
Eligible landlords can only receive one loan per address under this program;
A second mortgage must be registered on the approved property.

Rooming House Renovation Program Duration of program

Housing Services will accept applications until all funds are spent, or until March 31st, 2018, whichever comes first.

Ottawa-Ontario Rooming House Renovation Program Timelines

Once Housing Services has received the application, the applicant will be contacted by a case coordinator from the Affordable Housing Unit. Applicants will also be notified if documents are missing. The full review of the application will include a visual property and building assessment and internal review by city staff. Please note that application review timelines may vary.

Ottawa-Ontario Rooming House Renovation Program Release of funds

Funding will be committed to an approved rental property owner upon signing a Funding Agreement document with Housing Services outlining the total amount funded and the terms and conditions attached to the use and release of funds.

Please note that any repairs and/or energy efficiency upgrades carried out before the loan is approved in writing are not eligible for the program and will not be reimbursed.

Ottawa-Ontario Rooming House Renovation Program Use of funds

Funds awarded can only be used for the purposes outlined in the Funding Agreement with the City of Ottawa’s Housing Services. If the cost of the necessary repairs and/or modifications is more than the maximum amount of the loan provided, you, as the property owner, must cover the additional cost.

Ottawa-Ontario Rooming House Renovation Program Reporting and follow-up

Housing Services will follow up with you on an annual basis for your rent roll to ensure the units within the property remain affordable. If you sell, transfer title or increase the rent beyond the 60% of AMR (updated yearly – CMHC Rental Market Report) within 15 years of receiving a forgivable loan, you will be required to pay all or a portion of the loan back to the City.

How to apply for funding

Print and complete this application form PDF opens in a new tab or window [PDF – 162KB] and provide all necessary documents
Print this checklist PDF opens in a new tab or window
Contact the program at the phone number or email address below to request an application package be mailed to you

All applications with necessary documents must be mailed or delivered to:

City of OttawaHousing Services
Ontario Renovates Program
100 Constellation Drive, 8thFloor West
Ottawa, ON, K2G 6J8

Rooming House Renovation Program Inquiries

For more information about the Ontario Renovates program,
please call our information line at
613-580-2424 ext 12300 or
email Ontariorenovates@ottawa.ca

DISCLAIMER

We believe the information contained in this
article to be accurate.It is presented with the
understanding that we are not engaged in
rendering legal,accounting, or investment advice.
When professional assistance is required,
utilize the services of a licensed real estate
broker, lawyer, accountant,
or other consultant as may be required.

Ottawa-Ontario Rooming House Renovation Program
Tickets for LIVE CRASH COURSE at http://www.Flipping4Profit.ca

Government of Alberta Seniors Property Tax Deferral Program

Seniors property tax deferral program

Alberta Seniors Property Tax Deferral Program allows eligible senior homeowners to defer all or part of their property taxes through a low-interest home equity loan with the Alberta government. If you qualify, the Alberta government will pay your residential property taxes directly to the City of Calgary on your behalf. You re-pay the loan, with interest, when you sell the home, or sooner if you wish.

You can apply for the Government of Alberta Seniors Property Tax Deferral Program at any time of year; however, for the Province to pay your property tax on your behalf by the due date of June 30 and avoid penalty, the Government of Alberta Seniors Property Tax Deferral Program must receive your application by May 31.

For program information, including eligibility and to apply, visit

www.seniors.alberta.ca/seniors

or call

Alberta Supports Contact line at

1-877-644-9992.

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We can HELP !! We also BUY HOUSES. Please call:

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Nunavut Down payment Assistance Program

Nunavut Down payment Assistance Program

Nunavut Down payment Assistance Program (NDAP) assists clients in achieving home ownership through conventional financing means by providing financial assistance to ensure the clients have ten percent of the total house costs to contribute as a down payment.

A personal financial (mortgage equity) contribution by the client, when combined with NDAP, will ensure that clients meet the minimum down payment requirement of conventional mortgage lenders.

Continue reading Nunavut Down payment Assistance Program