Brandon, MB – 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 consecutive year.
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 (4) 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 per applicant, while sixteen (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 at http://www.economicdevelopmentbrandon.com/housing-programs.
“The Brandon Homebuyers Assistance Program includes comprehensive evaluation criteria and a three-phase approval process to ensure we are putting the funding we’ve been provided to the best use possible,” notes City of Brandon Director of Economic Development Sandy Trudel. “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 its launch in the 2018, the program has aided in the transition of 33 successful applicant families to homeownership.
“Since the program’s inception, those who have had a hand in its creation and delivery are extremely pleased with its success,” adds Trudel. “Not only has the program been life changing for successful applicants, it has freed up always-in-demand rental units and created positive spin-offs in the local economy by generating business for housing inspectors, realtors, survey companies, lending institutions, solicitors, the construction industry and interpreters.”
Applications for the current intake must be received at the Economic Development Brandon office (Main Floor, Brandon City Hall, 410-9th Street, R7A 6A2) by 5 p.m. on Tuesday, June 30th, 2020. For further information or assistance with submitting an application, individuals may phone 204-729-2132 or email econdev@brandon.ca. Additional intake periods will be entirely dependant on available funding.
(City of Brandon Media Release)
