Manitoba Home buyer Down Payment Assistance Program (HDPA)
Manitoba Homebuyer Down Payment Assistance Program (HDPA) provides financial assistance towards the purchase of qualifying new or recently renovated properties in targeted areas of Winnipeg. Manitoba Housing assists in providing affordable housing for low-income Manitobans through a variety of programs. Funding for the Manitoba Home buyer Down Payment Assistance Program falls under the HOMEWorks! initiative which focuses on inner-city revitalization including housing for refugees and immigrants, older Manitobans, urban Aboriginals, northern Manitobans and those who are homeless.
Eligibility Criteria for Manitoba Home buyer Down Payment Assistance Program (HDPA):
• Must be a first time homebuyer
• Must be purchasing a property in Winnipeg from the eligible inventory
• Gross household income not exceeding $54,016
• have a mortgage pre-qualification certificate from a financial institution (for at least
$90,000)
• Be willing to reside in the property for a minimum of 10 years
Loan Features
• Available for 5% of the purchase price + $1,500 for closing costs (up to a maximum of
$9,000)
• The assistance is provided in the form of a forgivable loan, subject to the applicant
remaining the homeowner/occupant for 10 years
• Should the owner sell or rent the property prior to the 10 year term expiring, the unforgiven
portion must be paid back to MANITOBA HOUSING.
How to Apply for the Manitoba Home buyer Down Payment Assistance Program (HDPA)?
Upon attainment of a mortgage pre-qualification from a financial institution the applicant may call the organizations listed below. They can assist you:
• In finding a qualified property
• Schedule a home viewing
• Make an offer to purchase
• Provide the required HDPA documents
Winnipeg Housing Rehabilitation Corporation
Contact: Frank Zappia – Zappia Group
Telephone: 204-772-2100
Housing Opportunity Partnerships Incorporated
Contact: Frank Zappia – Zappia Group
Telephone: 204-772-2100
Winnipeg Housing and Homelessness Initiative
361 Hargrave Street
Winnipeg MB R3B 2K2
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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