The City of Kingston Municipal Home Ownership Program
March 18, 2016
The City of Kingston Municipal Home Ownership Program provides down payment
assistance to residents currently renting and seeking to purchase a home within the City
of Kingston or County of Frontenac. The program rules and application process are set
As listed in the following thirteen (13) bullet points:
• The funding is available only for down payment on the purchase of a home.
• The funding cannot be used for any construction financing or any other purpose.
• Approved applicants must provide a fully executed Purchase and Sale Agreement
within sixty (60) days of receipt of the Letter of Conditional approval. Closing date
may be beyond sixty (60) days.
• The funding will be paid directly to the home purchaser’s solicitor on the day of
• The maximum amount of the funding will be five per cent (5%) of the purchase price
of the home to a maximum of $14,529.00.
• The funding will be in the form of a twenty (20) year forgivable interest free loan
registered on title.
• The home purchaser will be responsible for covering all costs associated with
finalizing the purchase of the home, including legal fees, land transfer tax,
registration of documents on title and any other related costs.
• All re-sale homes must have a home inspection completed at the expense of the
home purchaser and provide verification of same (i.e. copy of inspection summary
page and invoice).
• The funding will be forgiven and can be discharged at the request and expense of
the home owner on the twentieth (20th) anniversary date of the home purchase.
• The funding plus five per cent (5%) of the capital property appreciation will become
payable if at any time prior to the twentieth (20th) anniversary, as listed in the following four (4) bullet points:
• The home is no longer the sole and principal residence of the home owner; or
• The home is sold, transferred or disposed of; or
• The home owner wishes to increase the original financing for the home; or
• There is any default of the funding agreement.
• Should the funding become payable, the City may at its expense, commission an
appraisal of the property in order to determine the fair market value and the property
• The home owner must provide confirmation of their continued residency on an
annual basis or upon request by the City of Kingston.
• Any misrepresentation may result in an applicant being deemed ineligible.
Household Eligibility Criteria
As listed in the following ten (10) bullet points:
• At least one member of the household must be eighteen (18) years of age.
• The household members must be permanent residents of the City of Kingston or the
County of Frontenac.
• The household must currently be renting a self-contained unit that will be re-rented
within the City of Kingston and the County of Frontenac.
• The household must not currently own a home or have a vested interest in any real
• The household must be purchasing their sole and principal residence.
• The combined total gross income of the adult household members must be at or
• The combined total assets of the adult household members must not be above
$30,000. Assets include vehicles, recreational vehicles, non-registered investments
and bank accounts. Registered retirement assets are exempt.
• The household members must be Canadian citizens, landed immigrants or have
refugee claimant status and must be able to provide such documentation.
• The household must have a valid mortgage pre-approval from a primary lending
• Each adult household member must provide documentation as listed in the following
seven (7) bullet points:
• Current Notice(s) of Assessment (2014 or 2015);
• Verification of current income;
• Verification of current banking information;
• Verification of rental status;
• Photo Identification (health card cannot be accepted);
• Mortgage pre-approval must be submitted on letterhead and signed by a
representative of the primary lending institution; and,
• Verification of full time attendance in school, if applicable.
Eligible Home Purchases
As listed in the following six (6) bullet points:
• The home must be located within the City of Kingston or the County of Frontenac.
• The home may be new or re-sale.
• The purchase price of the home cannot be higher than $290,580.
• Homes must be single residential units which may include detached, semi-detached,
condominiums, limited equity co-operatives, or row houses.
• Mobile homes are not eligible.
• Multi-residential units, such as duplexes and triplexes, are not eligible.
Application and Selection Process
As listed in the following eleven (11) bullet points:
• All applicants must complete the application form in full and provide the supporting
documentation as required, and submit in the time and manner set out on the
• Only complete applications with all required documentation and signatures will be
reviewed for eligibility.
• Applications will be accepted on Friday, April 1, 2016 starting at 8:30 A.M. until
Friday, April 15, 2016 at 4:30 P.M. Once an application has been deemed eligible it
will be held for consideration and approved on a priority basis; assisting those
applicant(s) with the lowest income first until all funding is allocated. If there are any
remaining applications, they will be placed on a waiting list in order of priority.
• After April 15, 2016, any further applications received will be placed on a waiting list
in order of priority of the completed application and determination of eligibility.
• Approved applicants will receive a Letter of Conditional Approval and will have sixty
(60) days to provide a fully executed Purchase and Sale Agreement. Closing date of
the purchase may be beyond the sixty (60) days.
• Upon receipt of a fully executed Purchase and Sale Agreement, the home
purchased will receive a commitment letter specifying the exact amount of funding to
be paid to their solicitor, “In Trust”, on the closing date.
• Home purchasers will be required to sign a loan agreement which sets out the terms
of the funding prior to any funds being paid “In Trust” to their Solicitor. Agreements
will be registered on title at the Homeowner(s) expense.
• If the approved applicant is unable to provide a fully executed Purchase and Sale
Agreement within sixty (60) days, the funding allocation will be withdrawn and the
applicant will no longer be eligible to receive the funding.
• If funding becomes available, the next eligible applicant on the waiting list will be
contacted and provided a Letter of Conditional Approval.
• Applications will continue to be received, evaluated and funding assigned until all
funding has been allocated.
• When all funding has been expended, eligible applicants remaining on the waiting
list will be advised accordingly.
Please see the “ 2016 Application Form” for submission process.
If you require more information please call telephone number 613-546-2695 extension