Saving for a down payment can be one of the biggest challenges when buying your first home.

Depending on where you’re buying, your household income, current housing situation, and other eligibility requirements, you may qualify for a down payment assistance program that can help make homeownership more accessible.

At SGD Mortgages, we help you explore available programs, understand the requirements, and arrange the mortgage financing you need to complete your purchase.

What Is Down Payment Assistance?

Down payment assistance programs are designed to help eligible home buyers cover part of the down payment required to purchase a home.

Depending on the specific program, assistance may be provided as an interest-free loan, forgivable loan, or second mortgage.

Each program has its own rules for eligibility, maximum purchase price, assistance amount, repayment, and property location.

Down Payment Assistance Programs

Dufferin County

Available in:

Orangeville • Mono • Shelburne • Grand Valley

Up to $72,500 in Down Payment Assistance

Eligible buyers may receive assistance of up to 10% of the purchase price, to a maximum of $72,500.

Maximum Purchase Price: $725,000

Maximum Assistance: $72,500

Assistance: Up to 10% of purchase price

Household Income: Up to $150,300 for a single applicant or $174,900 for households with 2+ members

Applicants must currently be renting in Dufferin County and cannot currently own a home or other real estate.

Other eligibility requirements apply.

Brantford & Brant County

Up to $20,000 in Down Payment Assistance

Eligible first-time home buyers may receive a 5% interest-free forgivable loan, up to a maximum of $20,000, toward their down payment.

Maximum Purchase Price: $400,000

Maximum Assistance: $20,000

Assistance: 5% of purchase price

Maximum Household Income: $90,600

Maximum Household Assets: $30,000

Applicants must be first-time home buyers and currently renting in Brantford or Brant County.

Additional program and property requirements apply.

How Does Down Payment Assistance Work?

1. Check Your Eligibility

Eligibility can depend on the area where you plan to buy, household income, assets, current housing situation, first-time buyer status, and other program-specific requirements.

2. Determine Your Mortgage Qualification

Down payment assistance doesn't replace your mortgage.

You'll still need to qualify for the mortgage financing required to purchase the property.

3. Find an Eligible Property

Each program has its own maximum purchase price, geographic area, and property requirements.

Knowing these limits before you begin your home search can help you focus on properties that qualify.

4. Apply for Assistance

You'll need to provide the documentation required by the specific program. This may include proof of income, assets, rental history, identification, mortgage qualification, and property information.

5. Complete Your Purchase

Once the program and mortgage requirements have been satisfied, the assistance can be applied toward the eligible home purchase according to the program's terms.

Who Could Qualify?

Although every program is different, eligibility may depend on factors such as:

• Being a first-time home buyer

• Currently renting

• Purchasing within an eligible area

• Meeting household income limits

• Meeting household asset limits

• Qualifying for mortgage financing

• Staying within the program's maximum purchase price

• Not currently owning another property

• Using the purchased property as your principal residence

Meeting some of these requirements does not automatically mean you'll qualify. Each program has its own eligibility criteria.

Down Payment Assistance Isn't Always Free Money

It's important to understand how the specific assistance program works before purchasing your home.

Depending on the program, assistance may be structured as an interest-free or forgivable loan and may be registered against your property.

Some programs may require repayment if you:

• Sell the property before a specified period

• Stop using the property as your principal residence

• Refinance the property

• Transfer ownership

• Don't meet other conditions of the program

Some programs may also have specific rules regarding increases in the property's value.

Make sure you understand the repayment conditions before accepting assistance.

Don't Forget About Closing Costs

Down payment assistance doesn't necessarily cover the other expenses associated with purchasing a home.

In addition to your down payment, you should prepare for potential costs such as:

Legal Fees

Your lawyer will handle the legal requirements associated with purchasing and registering your property.

Land Transfer Tax

Ontario buyers may be responsible for land transfer tax, although eligible first-time buyers may qualify for applicable rebates.

Title Insurance

Often arranged as part of the legal closing process.

Home Inspection

An inspection can help identify potential issues with the property before completing the purchase.

Appraisal

Your mortgage lender may require an appraisal depending on the property and financing.

Adjustments & Other Closing Costs

Property taxes, utilities, moving expenses, insurance, and other costs should also be considered.

Why Work With SGD Mortgages?

Explore Available Programs

We'll help you understand which down payment assistance programs may be relevant based on where you want to buy and your financial situation.

Mortgage + Down Payment Strategy

Getting down payment assistance is only one part of purchasing a home. We'll also help you explore the mortgage financing needed for the remaining purchase price.

Access to 65+ Lenders

We can compare available mortgage options across our lender network instead of limiting your financing to a single bank.

Understand the Requirements

We'll help you understand the program's income limits, purchase-price limits, documentation, mortgage requirements, and other important conditions.

First-Time Buyer Guidance

Buying your first home involves more than getting approved for a mortgage. We'll help you understand the financing process and what to prepare for along the way.

Not Sure If You Qualify?

You don't need to figure out all the programs and requirements on your own.

Tell us where you want to buy and a little about your financial situation, and we'll help you determine which down payment assistance and mortgage options may be available to you.