Affordable Homeownership

I few months ago, I talked about the City of London Affordable Homeownership Assistance Program, click here to read it. There is a deadline of March 31, 2009 to expend the funding allocated to the City of London. To avoid returning any unused funds, the City of London has raised the household income limit and maximum home price under this program.

To be eligible, households must now have a gross household income of $55,000 or less and must qualify for and be pre-approved for a mortgage at a recognized financial institution. The new selling price of the home must be no higher than $140,000.

Applications are accepted on a first-come-first-served basis. You must find a suitable home by the deadline March 31, 2009. However, the actual closing date of the sale may be after the date.

Time is running out, have you found your home yet?

For details on the program or an application, visit www.housing.london.ca or call 519-661-2500 ext 5524