Many First Time Home Buyers have found it difficult to come up with the savings for a downpayment.   Today’s rental market has seen such a drastic increase that it makes it very difficult with today’s income to save the standard 5% for the average price of homes in Barrie area which is approximately $450,000 for first time home buyers.

The purpose of the Homeownership Program is to provide down payment assistance, using federal/provincial funds, in the form of a forgivable loan to eligible individuals and families for the purchase of a home.


Here are two of the programs that are being offered For First Time Home Buuyers – one is directly pertaining to Simcoe County Hom Buyers & the other is for all First Time Home Buyers across Canada.

How to Apply For The Simcoe County Home Ownership Program:

  • Mortgage Pre-Approval – Please contact a mortgage broker, trust company, credit union, bank or other qualified lender of your choice to apply for a no cost mortgage pre-approval.
  • Application – Complete the County of Simcoe Affordable Homeownership Program Application, download the application information here.
  • Attach Required Supporting Documents – Review your application carefully to ensure all requested supporting documentation is attached. Applications that are incomplete or missing required documentation will be returned.
  • Submit Application

What Is The First Time Home Buyer Incentive & How Do I Apply?

The First-Time Home Buyer Incentive helps people across Canada purchase their first home. The program offers 5 or 10% of the home’s purchase price to put toward a down payment. This addition to your down payment lowers your mortgage carrying costs, making homeownership more affordable.

How To Apply:

Once you’ve been pre-approved for a mortgage, found the home you’re looking for and determined you’re eligible to apply for the incentive, it’s time to apply. Simply fill out these 2 application forms to apply for the First-Time Home Buyer Incentive:

FTHBI – SEM Information Package (PDF)

SEM Attestation and Consent Form (PDF)

Once complete, give these to your lender. They will submit the application for you.

Give the final signed copy of the shared equity mortgage package to your solicitor to retain on your behalf.

When you receive your acceptance, call First Canadian Title at 1-833-974-0963 to activate your incentive and provide the name of your lawyer/notary. (This must be at least 2 weeks prior to your closing date.)