Brandon, MB – The City of Brandon is pleased launch the Brandon Homebuyers Assistance Program to assist qualified renters in the community transition into home ownership. The program is the first of its kind offered by the City of Brandon, and builds on the importance of partnerships in its efforts to improve the community’s affordable housing landscape.
Thanks to funding support from The Manitoba Housing and Renewal Corporation, the City of Brandon has developed a program by which successful applicants can receive funding equal to a 5% down payment on the purchase of a home and a portion of associated closing costs by way of a 10-year earned forgivable loan, to a maximum of $14,000 per applicant. This one-time program is to be administered by the City of Brandon’s Economic Development Department with assistance from the Brandon Neighbourhood Renewal Corporation’s Affordable Housing Programs Coordinator. All Homebuyer Assistance Program information, including eligibility requirements and the application process, can be found at http://www.economicdevelopmentbrandon.com/housing-programs.
City of Brandon Director of Economic Development Sandy Trudel says the goal of the program is to remove the entry barrier for up to 10 local applicants who are motivated to transition out of the rental housing cycle and into that of long-term home ownership.
“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 Trudel. “Among the program’s important criteria are requirements of a gross family income that does not exceed $75,592, and that the home purchase price does not exceed $250,000, so we are really targeting those first-time homebuyers who might not have otherwise been able to enter into the home ownership market.”
Trudel adds that the Homebuyers Assistance Program augments other recent affordable home ownership programs the City of Brandon has participated in with the Canadian Mental Health Association and Habitat For Humanity, projects for which municipally-owned land was donated.
“The strength of the City of Brandon’s Affordable Housing Strategy has always relied on community partnerships and shared responsibility, and our Homebuyers Assistance Program is certainly an example of leveraging our partnerships with the Province of Manitoba and the Brandon Neighbourhood Renewal Corporation to make home ownership a reality for some very deserving members of our community,” added Brandon Mayor Rick Chrest. “We know that the solution to affordable housing is not found in any one funding model, but rather in a variety of models, and the City of Brandon is pleased to be able to offer this program as an option for those in our community.”
The Brandon Homebuyer Assistance Program’s initial intake period runs from May 14th, 2018 to June 15th, 2018, with additional intake periods being entirely dependant on what (if any) funding remains after the initial allocation of funds.
Applications must be received at the Economic Development Brandon office (Main Floor, Brandon City Hall, 410-9th Street, R7A 6A2) by 4 p.m. on Friday, June 15th. For further information or assistance with submitting an application, individuals may phone 204-729-2412 or email firstname.lastname@example.org.