City offering homebuyer assistance for third year
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Hey there, time traveller!
This article was published 02/06/2020 (1996 days ago), so information in it may no longer be current.
For the third straight year some Brandonites will get financial assistance with buying a home.
The City of Brandon announced on Tuesday that it is partnering once again with the Canada Mortgage and Housing Corporation to offer a Homebuyer Assistance Program.
Four successful applicants will get a forgivable 10-year loan to cover a 10 per cent down payment on the purchase of a home and to help cover associated closing costs to a maximum of $26,500.
A further 16 successful applicants can get funding for a 5 per cent down payment on the purchase of a home to a maximum of $14,000.
“The Brandon Homebuyers Assistance Program includes comprehensive evaluation criteria and a three-phase approval process to ensure we are putting the funding we’ve been provided to the best use possible,” city director of economic development Sandy Trudel said.
“Among the program’s important eligibility criteria are requirements of a total household income that does not exceed $75,592, the family unit must have at least one dependent child, and that the home purchase price cannot exceed $250,000.”
The program’s full list of eligibility requirements and details can be found online at economicdevelopmentbrandon.com/housing-programs.
According to a release sent out by the city, 33 successful applicants have received homebuying assistance under this program since 2018.
» The Brandon Sun