The Forgivable Grants Lambton Home Repairs program offers financial assistance to repair deficiencies and improve accessibility for eligible households in need.
Forgivable Grants Lambton Home Repairs program provides one-time assistance in the form of a 10-year forgivable loan, which is secured by registration on title, for home repairs to a maximum of $20,000 per household.
Additional funding above the $20,000 maximum may be approved on a case-by-case basis by the Program Administrator, in its sole discretion.
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The program also provides assistance in the form of a grant, which does not require repayment, for accessibility improvements to a maximum of $5,000 per household.
Forgivable Grants Lambton Home Repairs Renovates Information
https://www.lambtononline.ca/home/residents/housingservices/Documents/LR%20Info%20Sheet%202016%20Feb%202016.pdf
Forgivable Grants for Lambton Home Repairs
Who is eligible?
Households who meet the following sample criteria: (For a complete list of eligibility criteria, please see the Forgivable Grants for Lambton Home Repairs Information Sheet above).
- Total household income and assets complies with the income and asset criteria as listed in the Information Sheet.
- Own of a home in Lambton County that is your sole and principal residence with a maximum market value of $210,000.
- All property taxes and mortgage payments must be up to date and insurance coverage in place for the full value of the home.
- Your home must be in need of repair, energy and/or accessibility upgrades.
What types of repairs can be done?
Eligible repairs under the Forgivable Grants for Lambton Home Repairs Program may include major repairs and rehabilitation required to make your home safe while improving energy efficiency. Examples include but are not limited to:
- Heating systems including furnace replacement
- Chimneys
- Foundations
- Roofs, vents, louvers
- Electrical systems
- Plumbing, toilet replacement, water heaters
- Septic systems and well water, well drilling
Modifications to increase accessibility related to housing and the occupant's disability include, but not limited to:
- Ramps
- Handrails
- Chair and bath lifts
- Height adjustments to counter tops
- Bathroom renovations
How to apply?
Applications and additional information are available by contacting County of Lambton, Housing Services Department at 519-344-2062 ext. 2165, during regular business hours Monday to Friday from 8:30 AM to 4:30 PM.
Contact:
Project Coordinator
County of Lambton – Housing Services Department
Telephone: 519-344-2062 ext. 2165
Fax: 519-344-2066
Email: mackenzie.kada@county-lambton.on.ca
County of Lambton's Home ownership Down Payment Assistance Program
Home ownership Assistance Program , please note the following:
Homes purchased prior to April 1, 2017, are not eligible for funding.
Eligible applicants must submit the Purchase of Sale Agreement a minimum of 30 business days prior to the closing date.
All program requirements must be met a minimum of 15 business days prior to the closing date (i.e. final mortgage financing confirmation, Purchase of Sale conditions waiver).
Forgivable Grants Lambton Home Repairs
The purpose of the County of Lambton's Home ownership Down Payment Assistance Program is to provide eligible households living in rental accommodations with loan assistance of up to 10% to a maximum of $21,500 for the purchase of a new or resale home not exceeding $215,000.
Approval for funding is based on the information provided by applicants through the Home ownership Down Payment Assistance Application Form. Conditions for funding include, but are not limited to the following:
- Applicants must be at least 18 years of age, a Canadian citizen, landed immigrant or have Refugee claimant status
- Applicants must be a renter, which is defined as a Tenant who has a rental agreement for a self-contained unit with a property owner who is not a relative
- Applicants and/or their spouse/partner do not currently own a home or have an ownership interest in a home or land
- Applicants seeking funds to offset construction costs on land they currently own are not eligible for funding
- Applicants have a maximum household income of $84,100
- Applicants have a maximum of $100,000 in assets, which includes bank accounts, investments and any property
- Applicants do not have outstanding social housing arrears in Ontario
- Applicants will use the purchased home as their sole and principal residence
- Applicants qualify for a mortgage through a recognized financial institution
- Applicants who require a co-signer and/or guarantor to qualify for a mortgage are not eligible for funding
- Home must be modest in size and located in Lambton County
- Home may be detached, semi-detached, town home, or apartment
- Mobile homes and homes on Reserve Lands are not eligible for funding
- Resale homes require a recent home inspection completed by a certified home inspector and paid for by the purchaser/applicant
- New homes, including conversions from non-residential use, must qualify for a Tarion Certificate of Completion and Possession under the Ontario New Home Warranty Program
- Homes purchased privately require a recent home appraisal completed by a professional appraiser and paid for by the purchaser/applicant
Forgivable Grants for Lambton Home Repairs
Conditions for Repayment
Loan is forgiven if home is sold after 20 years provided the homeowner has complied with all the terms and conditions of the Loan Agreement.
If the home is sold before 20 year period expires, homeowner must repay the original loan plus a percentage of the realized capital gain.
If the home is sold before 20 year period expires and homeowner experiences a capital loss, repayment would be reduced by the amount of loss, provided the sale meets the following criteria:
the unit is sold at a fair market value; and
the purchase and sale of the unit is an arm's-length transaction
If the purchaser is in default of any term of the Loan Agreement within 20 years of the date of purchase, it is deemed a sale and the loan plus a percentage of the realized capital gain becomes immediately due.
Application Process for Forgivable Grants Lambton Home Repairs
- Only complete applications will be considered. Home ownership Down Payment Assistance Application Form. An application must have all information entered and all supporting documentation provided to be considered complete.
- Incomplete applications will be returned.
- If an applicant is deemed eligible for the down payment assistance, the following minimum additional documentation is required:
- Photocopy of the Purchase of Sale Agreement
- Completion of the Loan Agreement
- For resale homes, a Home Inspection Report by a certified professional Home Inspector is required, at the applicant's expense
- For new homes, a Tarion Certificate of Completion and Possession under the Ontario New Home Warranty Program
- For homes purchased privately, a copy of the home appraisal, completed by a professional appraiser, at the applicant's expense
- Completed applications along with required documentation can be dropped off at the County of Lambton Housing Services Department. The office is located on the 2nd Floor of the Bayside Centre in Sarnia (150 N. Christina Street) and is open Monday – Friday, 8:30 a.m. – 4:30 p.m.
Contact; Project Coordinator
County of Lambton – Housing Services Department
Telephone: 519-344-2062 ext 2165
Fax: 519-344-2066
Email: mackenzie.kada@county-lambton.on.ca
DISCLAIMER
We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal,accounting, or investment advice.
When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.
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