We offer Government Down Payment Grants. They cover 5% of the down payment and this is for a purchase of up to $450,000. The conditions are that you have to make less than $90,500 a year and you have to have less than $20,000 in liquid assets, for example, cash in the bank. There are a few other conditions as well but once we fulfill all those requirements and get you pre-approved by a bank, we apply for the Dufferin County Down Payment Grant. It takes about a week and a half for approval and once it’s approved, you have 60 days to purchase a home or get a firm offer. Then, they provide the 5% down payment and the only thing you have to pay for is closing costs which are the legal fees and land transfer taxes. Our fees are covered as you don’t have to pay anything dealing with a mortgage broker. In addition, you don’t have to be a first time home buyer to get the grant; you just can’t own any real estate and meet the requirements as discussed above. If you keep the house for more than 20 years, the government forgives the grant altogether, if you sell the house before 20 years, you have to pay the government back the full amount plus 5% of your profit.