Tag Archives: peterborough

Forgivable Grants for Peterborough Home Owners

Home ownership Assistance Loan Program

Forgivable Grants for Peterborough Step #1:The program helps eligible renters buy a home in the City or County of Peterborough. Program loans for down payment assistance are delivered on a first-come, first served basis, as funding is available. For more information please contact the Housing Division at 705-742-7777 extension 4663 (HOME).

 

Note: Funds have been provided by the Government of Canada and the Province of Ontario through the Investment in Affordable Housing – Extension program.

Forgivable Grants for Peterborough
Get your copy of Directory Forgivable Canadian Real Estate Grants now at www.GovernmentGrantsCanada.ca

Peterborough Renovates Program – Contact Habitat for Humanity

Forgivable Grants for Peterborough Home Owners

The Peterborough Renovates Program (PRP) provides loans and grants to low and moderate income homeowners in the City and County of Peterborough. It helps these homeowners to afford needed repairs, including accessibility and efficiency upgrades. Accessibility grants up to $5,000 and forgivable loans up to $25,000 are available.

Forgivable Grants for Peterborough

The Delivery Agent for PRP is Habitat for Humanity Peterborough & Kawartha Region. Please direct all questions and requests for application packages to staff at Habitat for Humanity's office.
Habitat for Humanity, Peterborough & Kawartha Region

Phone 705-750-1456 or toll free 1-855-750-1456
Email louise@habitatpkr.ca
http://www.habitatpeterborough.ca/progr … renovates/

This 2017 Program Backgrounder outlines some key points about the Peterborough Renovates Program. Some types of building repairs and upgrades that may be eligible under this program include: Foundational and structural, heating systems, windows, exterior doors, roofs, septic systems, water supply, electrical and plumbing, and accessibility features.

 

Forgivable Grants for Peterborough

Forgivable Grants for Peterborough
Other Details:

Program funding begins in April of each year and is delivered on a first-come, first-served basis to eligible applicants, while funding is available. Applications will be available until September and processed as funding is available. When funding for each year has been expended, applicants will be placed on a waiting list until more funding is available under that year's allocation (some exceptions may apply). Detailed information about the program is available in the Peterborough Renovates Program Guidelines. Funds have been provided by the Government of Canada and the Province of Ontario.

 

Rent Supplement Programs

Rent supplements help people with low-incomes by making rent more affordable in the City and County of Peterborough. Through an application, rent supplements assist people in financial need and people who are on the Centralized Waiting List for social Housing. There are two ways that the rent supplement amount is determined: flat-rate or geared-to-income.

Flat-rate rent supplements bring the cost of rent for the tenant down by a fixed rate between $100-$250 per month. Rent supplements are paid to the landlord. Low-income verification is required for tenant eligibility.

Geared-to-income rent supplements bring the cost of rent for the tenant to 30% of their monthly income, plus or minus utility amounts. The rent supplement pays the remaining amount to the landlord. If the tenant’s income, income source or household composition changes, then both the supplement and the amount of rent they are required to pay may change. Low-income verification is required for tenant eligibility.

Forgivable Grants for Peterborough

Some rent supplements are attached to units in specific buildings. Others are “portable”, which means that the tenant can move and the rent supplement can be moved with them into their new home. Rent supplement availability is limited.

Details on where to apply and the types of rent supplement:

705-742-0439

Geared-to-income supplement, paid to landlord
Based on income verification and eligibility, 30% of Jane's monthly household employment income is $500. Her rent is $750, therefore the rent supplement amount is $250.

Housing Resource Centre

540 George Street Peterborough

705-743-2272
Flat-rate supplement, paid to landlord Based on Joe's income verification and eligibility $200 is the set rate of his rent supplement.

This Rent Supplement Program Outline provides additional information about the rent supplement programs in the City and County of Peterborough.

If you are a private landlord who is looking for more information on rent supplement programs, please contact:

Housing Access Peterborough at 705-742-0439, and/or
Housing Resource Centre at 705-743-2272.

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.

Forgivable Grants for Peterborough

 
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City of Peterborough Home ownership Assistance Loan Program 2017

Home ownership Assistance Loan Program 2017

 

 

 

 

 

 

The City of Peterborough is offering a
$15,000 loan to assist with a down payment

. The eligibility criteria for this Program include, but are not limited to, the following:

Applicants:

Are currently renting (as defined by the Residential Tenancies Act,2006);

Do not presently own a home or property;

Do not owe money to a social housing landlord;

Have a gross annual household income up to $78,400;

Will use the purchased home as the sole and principal residence;

Qualify for a mortgage from a qualified lender; and

Are at least 18 years old.

The Home:

Is purchased for $300,000 or less;

Is a single detached, semi-detached, townhouse, row, or apartment unit
(freehold or condominium);

Is inspected by a professional home inspector (resale homes); or

Is covered under the Ontario New Home Warranty Program (new homes);

Is located in the City or County of Peterborough; and

Is of a modest size (approx. 1100 sq. ft for a 3 bedroom home).

[b]Application Process:[/b]

Step 1

Household eligibility approval

Mortgage pre-approved by qualified lender

Homeownership Education complete

Step 2

Requires signed-back Agreement of Purchase and Sale dated at least 5days
later then the date of your Step 1 Eligibility Approval Letter and with a
minimum of 30 days notice of the closing date

Signed-back Loan Agreement to receive loan upon closing

Other Key Points:

The loan is forgiven if the home
is the sole and principal residence for 20 years, but is otherwise repayable.

The loan is registered on title as a second mortgage on closing.

Canada Mortgage and Housing Corporation (CMHC) mortgage insurance treats the
$15,000 loan as equity.

Additional funds may be available to
applicants moving out of social housing.

Household assets, including any gifting amounts from
friends or family, savings, GICs etc. cannot exceed $15,000.

RRSPs do count towards personal assets
if they can be accessed for home
purchases as per Canada Revenue Agency guidelines.

The loan amount may be decreased if
$15,000 is greater than 10% of the purchase price.

Loans will be offered, subject to availability, on a first-come, first-serve basis.

The Program ends when funding has been allocated or December 1, 2017

Tax Sale Properties Peterborough-Ontario

Nov 30,2016 tax sale properties Peterborough-Ontario Canada

sale of land by public tender
The Corporation of the City of Peterborough

take notice that tenders are invited for the purchase of the Tax Sale Properties Peterborough-Ontario land(s) described below and will be received until 3:00 p.m. local time on Wednesday November 30, 2016 at the Corporate Services Department, Main Floor, City Hall, 500 George Street North, Peterborough, ON 9H 3R9.

The tenders will then be opened in public on the same day at 3:15 p.m. local time in the City of Peterborough Board Room, 2nd Floor, City Hall, 500 George Street North, Peterborough, ON K9H 3R9.

Tax Sale Properties Peterborough-Ontario

]Description of Land(s):

Roll No. 1514 040.120.29510.0000

2691 Farmcrest Avenue, Peterborough

Note: This property is subject to partial ORCA (Otonabee Region Conservation Authority) restrictions. Floodplain runs across northern portion of lot and entire lot may encounter flooding.

PCL2-3 Sec 45-P7A-PET; Pt Lot 5 PL 7A Peterborough City; Pt 1 45R9679; S/T LT2994,LT504,LT 505,

LT 506, Peterborough City.

PIN# 28456-0005 (LT)

irregular 0.90AC more or lessTax Sale Properties Peterborough-Ontario
File#: TS-16-01

Assessed Value: Residential$122,000

Minimum Tender Amount:$34,796.05

Roll No. 1514 040.120.29410.0000

2655 Farmcrest Avenue, Peterborough

Note: This property is subject to ORCA (Otonabee Region Conservation Authority) restrictions. Development within the floodplain may not be permitted as entire lot may encounter flooding.

PCL 2-3 SEC 45-P7A-PET; Pt Lt 5 Pl 7A Peterborough City;

Pt Lt 6 PL 7A Peterborough City; Pt Lt 7 PL 7A Peterborough City; Pt 5 45R1076;

S/T LT2994,LT504,LT505,LT506 Peterborough City.

PIN# 28456-0007 (LT)

irregular 0.784AC more or less

File#: TS-16-02

[b]Assessed Value: Residential$118,000[/b]

[b]Minimum Tender Amount:$33,220.53[/b]

Tenders must be submitted in the prescribed form and must be accompanied by a deposit in the form of a money order or of a bank draft or cheque certified by a bank or trust corporation payable to the municipality and representing at least 20 per cent of the tender amount.

The municipality makes no representation regarding the title to or any other matters including any environmental concerns relating to the land to be sold. Any existing Federal or Provincial liens or executions will remain on title and may become the responsibility of the potential purchaser. Responsibility for ascertaining these matters rests with the potential purchasers. The municipality does not provide an opportunity for potential purchasers to view properties nor is it in a position to provide successful purchasers with a key or vacant possession.

This sale is governed by Part XI of the Municipal Act, 2001 and as amended by the Municipal Statute Law Amendment Act, 2002. The successful purchaser is required to pay any relevant federal or provincial taxes that may apply on closing (including land transfer tax and HST). Failure to complete the transaction by the successful bidder (highest or if failed, second highest bidder) will result in the forfeiture of their deposit.

For further information regarding this sale including an updated list of properties still available for sale, and a copy of the prescribed form of tender documents, go to the City of Peterborough web site at http://www.peterborough.ca/Living/Prope … _Sales.htm or contact:

Christine Heersink
Tax Collector,
City of Peterborough,
500 George Street North,
Peterborough, ON K9H 3R9
cheersink@peterborough.ca
705-742-7777 Extension 1622
1-855-738-3755 Extension 1622

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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Peterborough Renovates Program (PRP)

Peterborough Renovates Program (PRP)


 

 

 

 

 

 

 

 

 


The Peterborough Renovates Program (PRP) is a home repair program. It helps low to moderate income homeowners afford home
necessary repairs and upgrades. This can include energy and accessibility work. Funding comes from the federal and provincial governments. The whole program is called the Investment in Affordable Housing program. The City of Peterborough has a contract with Habitat for Humanity to delivery PRP. This means that staff at the Habitat office handle all applications and questions.

Yes, funding is limited. Funding is provided to qualifying applicants on a first-come, first-served basis. When funding has been used for
the current year, applicants may be placed on a wait list. This program can help homeowners in both the City and County of  Peterborough.  You must meet all program requirements to be an eligible applicant.

There are household income and house value limits.

Applications will be processed as funding is available each year.

PRP may be expanded to include a component for multi-unit residential projects in the future. This is at the discretion of the City.

Repairs and upgrades that may be eligible under this program include:

Fire and life safety related

Foundation and structural

Heating and ventilation systems

Insulation

Windows and exterior doors

Roofs and eaves

Septic systems

Water supply systems

Electrical / plumbing

Accessibility related The Program Guidelines lists the types of eligible repairs. Security type upgrades are included in the program.

A household can receive no more than $25,000 through PRP. This could include a grant for up to $5,000 for accessibility work. The applicant must pay for any costs greater than the approved project amount

These loans are “forgiveable” with a term of 10 years. “Forgiveable” means that you do not need to pay anything as long as you continue to meet the terms in your loan agreement. All loans will be registered as either a Mortgage or a Notice on Title.

Contact
Habitat for Humanity  Peterborough & Kawartha Region for an application. Habitat is the delivery agent for PRP. This means they handle all applications for the program.

Phone:
705-750-1456 or 1-855-750-1456

Email: louise@habitatpkr.ca

Check out the website for more information: www.habitatpeterborough.ca/peterborough-renovates

Their office hours are Monday to Friday from 9:00a.m. to 4:00p.m.

Loan program to help 15 Peterborough renters afford a down payment

Loan program to help 15 Peterborough renters afford a down payment

Loan program to help 15 Peterborough renters afford a down payment

A home ownership Loan program to help 15 Peterborough renters afford a down payment run jointly by the Province and federal government is expected to help 15 Peterborough families purchase a home in 2015.
Loan program to help 15 Peterborough renters afford a down payment is available to people who are renting and have a total household income of up to $69,800.00 The household must purchase a house for $254,000 or less, and must be pre-approved for a mortgage to qualify for the $12,000 loan.

Continue reading Loan program to help 15 Peterborough renters afford a down payment