Frequently Asked Questions

For New Applicants

About the Home in Peel Program:

Repaying your loan and other information

For Existing Program Home Owners


For New Applicants

What is the Home in Peel Affordable Ownership Program?

The Home in Peel Affordable Ownership Program is designed to provide moderate income income residents who are currently renting a unit in the Region of Peel (Brampton, Caledon or Mississauga) the opportunity to qualify for down payment loan assistance to buy a home in Peel Region.

This program will assist eligible applicants who have a total gross (pre-tax) household income of $88,900 or less to purchase a resale home in the Region of Peel that does not exceed a purchase price of $330,000.

How much is the maximum house price I am eligible to purchase under this program?

The maximum house price under the program is $330,000.

What types of homes are eligible for purchase under this program?

Due to the unpredictability of closing dates, new homes will not be eligible for purchase under this program; only resale homes are eligible. Eligible homes are for single families only and not to be purchased for investment purposes. Purchasers may purchase detached and semi-detached homes; town (condominium or freehold) homes; stacked or row homes; or high-rise condominium units. Duplex, triplex and mobile home units do not qualify for purchase under this program.

How much is the down payment assistance available under this program?

$20,000 is available, to be applied only to the down payment of the purchase price of an eligible home.

In the event that the purchase price of the property is less than $200,000, the loan amount will be adjusted to equal 10% of the purchase price.

Does the home have to be located in Peel Region?

Yes. The home must be located within the boundaries of the Region of Peel. This includes Brampton, Caledon and Mississauga.

Am I allowed to have a guarantor for my mortgage or financing approval?

No. Only purchasers who are listed on the program application and loan agreement who have been approved for program participation are eligible as mortgage and title holders. No guarantors are allowed for mortgage or financing approval under this program.

Who is responsible for lawyer's fees and other associated closing costs for the purchase of a home?

You, as the eligible purchaser, are solely responsible for all closing costs and fees associated with the purchase of a home. This includes: the deposit, home inspection fee, lawyer's fees, land transfer costs, title search and changes, possible land and/or municipal property tax payments, and any other unanticipated costs incurred during the purchase process.

Are there any program timelines or rules in regards to closing dates?

Yes, eligible applicants will have 120 days to submit a firm offer of Purchase and Sales to program administrator. However, before placing a conditional offer on a home, you must contact the program administrator to confirm if funding is available.

At least 30 days prior to your closing date, you must submit your firm Agreement of Purchase and Sale, mortgage commitment and home inspection receipt.

Is there a Loan Agreement for the approved purchasers to sign?

Yes. Approved purchasers must sign a Loan Agreement with the Region of Peel prior to their closing date and the advance of any approved down payment funds under this program.

When is the final approval regarding the down payment loan funds received?

Eligible applicants will receive final approval once funding has been confirmed and when final mortgage insurance under-writing review is conducted and approved by the first lender.

If the purchaser is not approved by the first lender under the first mortgage, the Region of Peel will not be responsible for any costs, losses or liabilities that are or may be incurred by the individual purchaser.

Is this a rent-to-own program?

No. Home in Peel is not a rent-to-own program but a down payment assistance program.

How long do I have to live in my home for the down payment loan assistance to be forgiven?

The purchaser must remain in the home for 20 years after purchase without any default, which includes that the home remains the sole and principal residence of the purchaser.

If I sell my house during the 20-year period, am I required to pay back the loan?

Yes. Should you as the purchaser not remain in the home as your sole and principal residence for the full 20 year period following your purchase date then this is considered a default under the Loan Agreement.

If your unit is sold above the original purchase price, you must pay back the original loan amount as well as a percentage of the realized capital gains proportionate to the down payment loan received.

See sample repayment scenarios here

How is the loan repayment calculated in the event of the death of the loan recipient?

In the event of the death of the loan recipient prior to the expiry of the affordability period, only the principle amount would have to be repaid.

Will I be required to complete on-going documentation for the Region of Peel?

The Region of Peel reserves the right to contact program participants during the 20 year affordability period.

Is there an end date to this program?

This program has a time limit and associated designated budget. As a result, this program is offered on a first-come, first-serve basis at the sole and absolute discretion of the Region of Peel.


For Existing Program Home Owners

If I sell my home how do I calculate what I owe to the Region of Peel?

It depends on the language in your Loan Agreement and the year you purchased your property.

If you sell your home within the 20 year period, you will be required to repay to The Regional Municipality of Peel the amount of the Loan and a percentage of the appreciation in home value.

How do I repay my loan to the Region of Peel if I have sold my home?

Once you have sold your home and your Agreement of Purchase and Sale is firm, your lawyer should contact the Region of Peel's legal department to request a discharge statement. The Region's legal staff will prepare the discharge statement (which outlines the amount owing to the Region of Peel) and will send it to your lawyer. Please contact the Program Administrator at 905-791-7800 ext. 3589 for further details.

Can I repay my loan without selling my property?

Yes, a homeowner may repay the Loan at any time during the term of the Loan Agreement. The original loan, plus a percentage of the appreciation (determined by the Municipal Property Tax Assessment of the home) must be paid in full; partial payments are not permitted. If you wish to remain living in your property, but wish to repay your loan, please contact the Program Administrator at 905-791-7800 ext. 3589.

Can I rent out a portion of my home?

Yes, as long as the property remains in your ownership and continues to be your primary residence.

If you are located in Mississauga and you are considering renting out your basement, please visit the following website for building code regulations and licences:

For more information on secondary units in Brampton, please visit:

What happens if I want to refinance my mortgage?

Some mortgage lenders offer customers refinancing options. Refinancing may involve changing the terms or your original mortgage agreement.

If you would like to refinance your home, your lawyer will need to contact Region of Peel legal staff. Legal staff will send a letter outlining the requirements needed for the refinancing of your property.

Can I register an additional mortgage on my property?

Yes, you can but this mortgage will be registered in third (3rd) position. The mortgage in favour of The Regional Municipality of Peel must remain registered in second (2nd) position.

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Revised: Wednesday April 06 2016

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