Thanks to additional funding support from the Manitoba Housing and Renewal Corporation by way of the Canada Mortgage and Housing Corporation, the City of Brandon is pleased to offer its Homebuyer Assistance Program for a third year in a row.
The Homebuyer Assistance Program, developed and administered by the City of Brandon's Economic Development Department, provides successful applicants with forgivable homebuyer financial assistance. Under the program, a total of four successful applicants can receive funding equal to a 10% down payment on the purchase of an eligible home and a portion of associated closing costs by way of a 10-year earned forgivable loan, to a maximum of $26,500.
But that's not all as another 16 successful applicants can receive funding equal to a 5% down payment on the purchase of an eligible home and a portion of associated closing costs, to a maximum of $14,000 per applicant.
All Homebuyer Assistance Program information, including eligibility requirements, application forms and the application process, can be found on the link below.
The City of Brandon Director of Economic Development Sandy Trudel says the program includes a comprehensive evaluation criteria and a three-phase approval process. "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."
Since 2018, the program has helped in the transition of 33 successful applicant families to homeownership.
Applications for the current intake must be handed in to the Economic Development Brandon office by 5 pm on Tuesday, June 30th, 2020.