Canada-Ontario Affordable Housing Program

Program Overview

The Affordable Home Ownership Program is one of four components of the
Canada-Ontario Affordable Housing Program.


  • Ease demand for rental housing by assisting renter households across the province in purchasing affordable homes;
  • Free up social housing stock to address waiting lists; and
  • Provide low and moderate-income individuals and families with an opportunity to move up the socio-economic ladder through entering the home ownership market.

This will be achieved by providing down payment assistance to home buyers with low to moderate incomes.


Service Managers, (e.g., the Region of Peel) are encouraged to participate in the home ownership component and may do so by partnering with supporters to deliver the program. Down payment assistance is paid directly to the home buyer’s lawyer in-trust. 

Unit Funding and Allocations

The Region of Peel has been allocated $1.483 million for approximately 150 home ownership opportunities.

A maximum of $10,000 can be granted to eligible households towards a down payment. The allocation will not have to be paid back unless the homeowner sells the property within the 20-year affordability period or commits a default as listed under the program guidelines.

All homeownership funding and unit allocations must be committed by December 31, 2010.

Mandatory Requirements: Homeowners

The potential purchaser is responsible for obtaining mortgage financing and is required to have all funds for closing costs, legal fees, home inspection, etc.

Unit Eligibility and Selection by Homeowners

Purchasers are permitted to select a unit of their choice provided that it meets the Region of Peel’s eligibility criteria.

Eligible Homes

  • Resale homes, provided that a home inspection is undertaken at the prospective homeowner’s expense.
  • Homes may be detached, semi-detached, town (condo and freehold), stacked homes, row houses or high-rise condo units.
  • Homes must be modest in size and the sole and principal residence of the purchaser(s).


    Affordable House Price

    Down Payment Assistance




  • Homes are to be for single families only.
  • Duplex, triplex and mobile homes do not qualify under this program and purchasers may not use an anticipated rental income from a portion of the property in order to obtain mortgage financing.

Amortization Period

A noted flexibility of the Home Ownership Program is that new purchasers can extend their mortgage amortization period up to 35 years to help assist with lowering monthly mortgage costs.

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Revised: Monday January 30 2012

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