Inner City Homebuyer Program
Making home ownership a reality for families living on a low income.
How does it work?
The Inner City Homebuyer program helps low-income earning families to save towards a down payment and closing costs for a home within a Neighbourhoods Alive! designated Area. Participants will be matched 1:1, up to $7000, and have 2 years to purchase a home.
We are looking for families who:
- Are willing to purchase a home or condo under $210,000 in a designated area
- See here for eligible areas: http://www.gov.mb.ca/imr/mr/bldgcomm/neighbourhoodsalive/communities/wpg_map.html
- Have a difficult time saving for a down payment and closing costs on their own
- Will qualify for a mortgage from a bank or credit union within 2 years
- Would have a greatly improved housing situation by owning a home
- Have at least one dependent living in the home
- Meet the low income qualifications (see income chart below)
- Are able to attend 8 home buying classes and 2 one-to-one sessions
- Do not currently own a home, or are not participating in another home ownership program
Spots are limited for this program. Priority will be given to past Saving Circle or IDA graduates.
How do I apply?
The Inner City Homebuyer Program runs once per year. The 2018 application process will begin early spring 2018.
Low Income Qualification Chart
|Household Size||Maximum Gross Household Income|
|7 or more persons||$66,027|
SEED Winnipeg looks at household income to help determine eligibility for our programs. We use Statistics Canada’s Low-Income Cut-Off (LICO) as a guide (we use 100% of LICO). Other factors besides LICO are also considered.