Habitat for Humanity partners with the BlackNorth to expand its affordable homeownership program

BY SIMONE J. SMITH

The Marketing and Communications team at Habitat for Humanity GTA reached out this week to share some news that we think the community is really going to appreciate. There are currently a few affordable homes that just became available in Brampton. These are for families, couples, individuals and they will be able to move in as early as January.

Habitat for Humanity GTA made headlines a few weeks ago by launching their HomeStart Program, which saw them expand their affordable homeownership program for the first time in its history to include couples and individuals.

Habitat for Humanity GTA is a local nonprofit housing organization with a global vision of a world where everyone has a safe and decent place to live. Habitat for Humanity Greater Toronto Area was established in 2014 through an amalgamation of three separate Habitat affiliates:  Habitat for Humanity Toronto, Brampton-Caledon, and York Region.

In 2020, Habitat Durham amalgamated with Habitat for Humanity GTA. Like all Habitat for Humanity affiliates in Canada, Habitat for Humanity GTA is an independently governed, non-profit corporation with an affiliate agreement with Habitat for Humanity Canada.

They mobilize communities to help working, lower-income families build strength, stability and self-reliance through affordable homeownership. With the help of volunteers, donors, and community partners; they provide a solid foundation for better, healthier lives for families in the GTA.

Since 1988, Habitat GTA has built 22 new communities, providing a hand up to more than 450 families, so parents and children can have a safe, decent and affordable place to call home.

The HomeStart Program helps couples and individuals with the opportunity to get a home of their own, a home that allows them to live affordably, build savings and be a part of a thriving neighborhood connected to the best Toronto has to offer.

How exactly does this work? Great question.

Step One

Families purchase an affordable home from Habitat for Humanity GTA at fair market value, most often with no down payment required.

Step Two

Approved homeowners purchase their home through two mortgages for a 20-year term. The first mortgage is through a traditional lender with market interest rates, and the second mortgage which covers the majority of the home value is through Habitat for Humanity GTA with no interest.

Step Three

Mortgage payments are calculated so that families spend no more than 32% of their household income on housing costs.

Step Four

As part of their partnership with Habitat for Humanity GTA, families contribute “sweat equity” of 500 volunteer hours helping build their home, other Habitat homes, or helping in our ReStores.

Step Five

Every family attends homeownership and financial education workshops to prepare themselves for first-time homeownership.

Step Six

As families pay off their mortgages, the money is reinvested back into the program to provide more families with strength, stability and self-reliance through affordable homeownership.

Below are the homes that are currently available in Brampton:

58-62 Sky Harbour Drive

We have stacked townhomes available with two bedrooms and two bathrooms as part of the Olivia Marie Gardens master-planned community. Through a partnership with the BlackNorth Initiative, these homes are exclusively for black families as part of Habitat for Humanity GTA’s commitment to closing the racial homeownership gap.

We will be prioritizing small families for these homes, but couples and individuals may also apply. People interested in applying need to have an annual household income of $80,000 to $130,000.

30 Lagerfield Drive

We have a brand-new condominium townhouse that includes two bedrooms and three bathrooms as part of a new community that’s right beside Mount Pleasant Go Station. These homes are for families. Families interested in applying need to have an annual household income of $90,000 to $120,000.

Habitat for Humanity GTA makes affordable homeownership possible by requiring $0 down payment and affordable monthly mortgage plans geared to income.

Anyone who is interested can visit our website to apply: https://habitatgta.ca/