Municipal Home Ownership Program

The City of Kingston has committed funds for the creation of a home ownership program to provide down payment assistance to City residents renting and purchasing within the City of Kingston.

Application And Selection Process

All applicants must complete the application form, provide supporting documentation as required and submit in the time and manner set out on the application form.

  • Eligible applicants will be approved on a first come first serve basis unless there is insufficient funding for all of the eligible applicants received in one day, then all applications received on that date will be combined and selection will be through a lottery.
  • Remaining applicants will be placed on a waiting list and advised accordingly.
  • Approved applicants will receive a Letter of Conditional Approval and will have 90 days to provide a fully executed Purchase and Sale Agreement. Closing date of the purchase can be beyond the 90 days.
  • Upon receipt of a fully executed Purchase and Sale Agreement, the home purchaser will receive a commitment letter specifying the exact amount of funding to be paid to their solicitor, "In Trust", on the closing date.
  • Home purchasers will be required to sign a loan agreement which sets out the terms of the funding prior to any funds being paid to the solicitor and which will be registered on title.
  • If the approved applicant is unable to provide a fully executed Purchase and Sale Agreement within 90 days, the funding allocation will be withdrawn and the applicant will no longer be eligible to receive the funding.
  • If funding becomes available, the next eligible applicant on the waiting list will be contacted and provided a Letter of Conditional Approval.
  • When all funding has been expended, eligible applicants remaining on the waiting list will be advised accordingly.

If you require more information, please call (613) 546-2695 ext. 4949

Household Eligibility Criteria

  • At least one member of the household must be 18 years of age.
  • The household members must be permanent residents of the City of Kingston or County of Frontenac.
  • The household must be renting a unit within the City of Kingston or County of Frontenac.
  • The household must not currently own a home or have a vested interest in any real estate.
  • The household must be purchasing their sole and principal residence.
  • The combined total gross income of the adult household members must be at or below $73,500.
  • The combined total assets of the adult household members must not be above $30,000. Assets include vehicles, recreational vehicles, non-registered investments and bank accounts. Registered retirement assets are exempt.
  • The household members must be Canadian citizens, landed immigrants, or have Refugee Claimant status and must be able to provide such documentation.
  • The household must have a valid mortgage pre-approval from a primary lending institution.
  • The adult household members must each provide documentation as follows:
    • Two (2) most current Notices of Assessment (2010 & 2011 or 2009 & 2010), and
    • Verification of current income, and
    • Verification of current banking information, and
    • Verification of rental status, and
    • Photo identification (health card is unacceptable), and
    • Copy of mortgage pre-approval from a primary lending institution, and
    • Verification of full time attendance in school, if applicable.

Program Rules

  • The funding is available only for down payment on the purchase of a home.
  • The funding cannot be used for any construction financing or any other purpose.
  • Approved applicants must provide a fully executed Purchase and Sale Agreement within ninety (90) days of receipt of the Letter of Conditional Approval. Closing date may be beyond 90 days.
  • The funding will be paid directly to the home purchaser's solicitor upon closing the purchase.
  • The maximum amount of the funding will be up to five per cent (5%) of the purchase price of the home to a maximum of $12,500.00.
  • The funding will be in the form of a 20 year interest free loan registered on title.
  • The home purchaser will be responsible for covering all costs associated with finalizing the purchase of the home, including legal fees, land transfer tax, and any other related costs.
  • All re-sale homes must have a home inspection completed at the expense of the home purchaser and provide verification of same (i.e. copy of inspection summary page and invoice).
  • The funding will be forgiven and can be discharged at the request and expense of the home owner on the 20th anniversary date of the home purchase.
  • The funding plus a percentage of the capital property appreciation will become payable if at any time prior to the 20th anniversary,
    • the home is no longer the sole and principal residence of the home owner; or
    • the home is sold, transferred or disposed of; or
    • the home owner wishes to increase the original financing for the home; or
    • there is any default of the funding agreement.
  • The percentage of the capital appreciation payable will be the same percentage used to determine the amount of the original funding. For example, if the home purchaser received down payment funding equal to five percent (5%) of the purchase price then the home owner would be required to repay five (5%) of the capital appreciation in addition to the original funding.
  • Should the funding become payable, the City may at its expense, commission an appraisal of the property in order to determine the fair market value and the property appreciation.
  • The home owner must provide confirmation of their continued residency on an annual basis or upon request by the City of Kingston.
  • Any misrepresentation may result in an applicant being deemed ineligible.

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