Eligibility quiz
Are you renting and looking for a way to buy your first home?
Buy a home through our Affordable Homeownership Program – no down payment and no interest. Plus, your monthly mortgage payments are guaranteed to be set at no more than 30% of your family’s total household income.
Before you apply
Before you apply, here are 3 main criteria to consider:
1
Need for affordable housing
To qualify, you must be living in housing that doesn’t meet your needs. This could mean it’s too crowded, unsafe, too expensive, or doesn’t suit your family’s situation.
2
Income and finances
You need to have a steady income, low debt, and good credit. Your income must fall within our requirements to make sure your monthly mortgage payments are affordable for you.
3
Volunteer hours
If you’re approved, you’ll complete 500 volunteer hours with Habitat before moving in. This is how you help build your home and support other families in the program.
Basic qualification criteria
Please note that the list below is the minimum qualifying criteria. Additional factors determining eligibility are taken into consideration.
Personal
Have at least one child under the age of 18
Have lived in Ontario for at least two years
All family members are Canadian Citizens or Permanent Residents
Willing to volunteer 500 hours
Cannot qualify for a traditional mortgage
Do not currently own real estate in Canada or abroad
Employment
Minimum employment income of $40,000 per year (dependent on location) from one household member
At least one member of the household working full-time hours
Consistent full-time work history for the past two years
Financial
Minimum $7,500 in chequing and/or savings accounts to demonstrate savings behaviour and for closing costs
Balance of debt and mandatory monthly payments on debt are taken into consideration
No debt in collections and Consumer Proposal must be paid in full
Do not have an undischarged bankruptcy in the past three years
Maximum total household income dependent on family size
Number of family members
2-4
5
6
7+
Max gross household income
$76,000
$80,000
$89,000
$95,000
*Criteria subject to change.
Take the eligibility quiz
By taking our short Eligibility Quiz, you’ll learn if you meet the basic criteria to qualify for an affordable mortgage.
You’ll need a ReziLink account to complete the quiz.