F I R S T P L A C E ~ An Edmonton Home Ownership Program

Who is eligible?

Applicants (includes anyone on title and applying for the mortgage) to the First Place Home Ownership Program must meet the following criteria in order to be eligible for the program:

Must be first-time home buyers in Canada
Must be Canadian citizens or have permanent resident status
Must be able to obtain qualify and have pre-approved financing (based on a minimum 5 % down payment, 40 year mortgage amortization, 32% gross debt service ratio and 42% total debt service ratio)
Must be employed and have a combined income of less than $88,000, see your financial lending institution for more details.
Must have a net personal worth less than $15,000, excluding a primary vehicle, locked-in or group RRSP and the minimum 5% down payment required for the condominium unit.
Applicants must agree to be full time occupants and residents of the condominium unit for the first five years.

All interested Canadian citizens, as well as City of Edmonton employees are eligible to apply, providing they meet the eligibility criteria.

Who is involved in creating this program?

Program Partners:
City of Edmonton - www.edmonton.ca/firsttimebuyers
Edmonton Public School Board - www.epsb.ca
Edmonton Catholic School District - www.ecsd.net
Alberta Education - www.education.alberta.ca

Builders:
Rohit - www.rohitcommunities.com
Landmark - www.bestcommunities.ca/canonridge/

Financial Institutions:
Canada Mortgage and Housing Corporation
BMO – Bank of Montreal
TD Canada Trust
Alberta Treasury Branch
Canadian Western Bank
Servus Credit Union

For detailed information

Acknowledgements:
The City of Edmonton thanks the community residents of Greenview and Canon Ridge and the members of Woodvale Community League and Homesteader Community League for their participation and input into the town home design process.