New Home Ownership Assistance Program

    Matching Program Doubles Down Payment Assistance Limits, Plus Free Home
    Give Away

    OAKVILLE, ON, Oct. 23 /CNW/ - In Ontario alone, approximately
400,000 families live in social housing, with another 125,000 on waiting lists
and in need of a better housing solution. Hundreds of thousands of additional
families live in rental accommodation with homeownership a seemingly distant
and unreachable dream. In March 2008, the Federal and Ontario Governments
launched the Canadian-Ontario Affordable Housing Program (AHP), which provides
qualified low-to-moderate income households with down payment assistance loans
of 5 per cent of the purchase price. There is a maximum purchase price cap
which depends on the region. Homes O.A.P. Inc., an Ontario-based corporation,
announces a program to match the 5 per cent down payment assistance offered
through the AHP, making homeownership more available to qualified Ontario
families. This new program will be launched in the Region of Waterloo in
October 2008 and will involve two newly renovated communities - Breckenridge
Manor, Kitchener, ON and Preston Estates, Cambridge, ON. To launch this new
program, Homes O.A.P. Inc. will be giving away a free home to a qualified
    "At Homes O.A.P. Inc. we recognize the significance of the need for an
affordable housing solution for hundreds of thousands of Ontario families -
one that provides families with not just primary shelter, but a family home to
call their own" said Carmen Campagnaro, President of Homes O.A.P. Inc. "We
also recognize that many of these families dream about homeownership, but
simply often don't have the required resources and support. Our solution is
providing a full-service approach for families in need of a helping hand to
make their homeownership goals a reality, and our new down payment assistance
matching program will help many families achieve homeownership that would not
otherwise be able to afford a home of their own", said Campagnaro.
    "Home ownership is a source of stability and growth for families and our
community", said Mayor Carl Zehr of the City of Kitchener. "We are delighted
that Homes O.A.P. Inc. has chosen the Region of Waterloo to launch their new
down payment assistance matching program, and we applaud their commitment to
help area families achieve their home ownership goals and dreams", said Zehr.

    Homes O.A.P. Inc. assists low to moderate-income families achieve
homeownership by providing a full service support approach including upfront
counseling and situational assessment through property acquisition, structured
financing and down payment assitance, and homeownership mentoring and
counseling. Homes O.A.P. Inc. is a wholly owned affiliate of Profunds, Inc.

    1. Call for Home Giveaway event details. Some conditions apply.

For further information:

For further information: Carmen Campagnaro by calling (905) 842-7011
ext. 22 or by e-mail at or visit

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