Down Payment Assistance Saskatoon, Saskatchewan
Equity Building Program — Saskatoon, Saskatchewan
Equity Building Program — Saskatoon, Saskatchewan
Goal
Assist moderate-income households to move from rental accommodation to homeownership.
Target Group
Households with moderate annual incomes, between $44,500 and $80,000, who are currently renting their dwelling.
Synopsis
Moderate-income Saskatoon residents who rent their dwelling can now enter the homeownership market through an innovative partnership between the City of Saskatoon and Affinity Credit Union. The Equity Building Program, launched in 2011, provides down payment assistance for qualifying homebuyers. The program helps families to purchase a home and start to build equity, while their down payment loan repayments are returned to the program to fund loans for future homebuyers. The City of Saskatoon provided the start-up funding and promotion. Affinity Credit Union manages the program. The program's target is to support 250 households over a five-year period.
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.
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