Thanks to additional funding from the Manitoba Housing and Renewal Corporation the City of Brandon will offer its Homebuyer Assistance Program for a second consecutive year and assist qualified renters as they transition into home ownership.
The program provides successful applicants with 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.
After its initial launch in May of 2018, the program was able to offer multiple intakes and ultimately yielded a total of 25 successful applicant families, 23 of whom have already moved into their new homes. All Homebuyer Assistance Program information, including eligibility requirements and the application process, can be found at http://www.economicdevelopmentbrandon.com/housing-programs.
“Though the City of Brandon had never been involved in developing and administering a program quite like this before, those who have had a hand in its creation and delivery are extremely pleased with its success thus far,” notes City of Brandon Director of Economic Development Sandy Trudel.
“The City of Brandon’s work through the program has been very rewarding, with many of the successful applicants calling it a ‘life-changing’ opportunity. The program has also 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 Homebuyer Assistance Program’s current intake must be received at the Economic Development Brandon office by 5 p.m. on Monday, February 4th, 2019.