Housing Program Proves a Hit
Posted by Becky on 16 Jun 2008 | Tagged as: Local News, Programs, Quinte, Trish Belford, mortgage, real estate, tips
The county’s housing office on Victoria Avenue received 71 applications for these loans from families and single parents living from as far north as Bancroft to Centre Hastings, Deseronto and Belleville.
The 71 applications are a far cry from the seven applications received earlier this month. Ogden said recent media reports about the lack of applications helped spark an interest from potential home buyers.
The provincial government gave the county $234,000 in forgivable loans for this year’s program which is intended to free up rental properties in the area.
Ogden said the county could dish up to 38 loans through the program.
“Over the next two weeks, we will review the applications. Then we will either host a lottery if we have 38 or more eligible applicants,” she said.
The date for the lottery will be June 26.
The applicants had to be at least 18 years old and have a household income of $48,900 or less. The home they want to buy must be in Hastings County, Belleville or Quinte West and be valued at $162,000 or less.
Ogden said the applications received by Friday afternoon’s deadline represent all age groups.
“Some are people who through unfortunate reasons lost their home or had to sell their home while others have never owned a home… first-time younger home buyers are the majority,” she said.
“The common bond is that they are all in need of down payment assistance and have been unable to save that money on their own. They just need a little help. I know because I was in a similar situation 26 years ago,” said Ogden.
Source: for the full article, please visit http://www.intelligencer.ca/ArticleDisplay.aspx?e=1073421&auth=BY+HENRY+BURY%2c+THE+INTELLIGENCER
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