Residents of Oxford County are invited to take advantage of a program aimed at helping make home ownership more attainable.  

Oxford County will accept applications starting March 14 for the Home Ownership Program (HOP), which provides eligible home buyers with a down payment assistance loan of up to five per cent, on a home valued at $425,000 or less. Funding is limited and is available on a first come, first served basis.

The 20-year, interest-free loans provide low-to-moderate income households in Oxford Countywith the opportunity to enter homeownership, thereby helping free up additional rental units that are in high demand locally. 

Since 2007, a total of 171 families in Oxford County have received down payment assistance loans through the Home Ownership Program to a total of $1,977,005. This program is made possible through the Investment in Affordable Housing (IAH) Program, which is funded by federal and provincial governments.

Applications are now available and will be accepted starting March 14, 2022.

How to Apply

Interested residents can review the program’s eligibility criteria on the Home Ownership Program webpage. A fact sheet and application form is also available to download on the website. You can also pick up an application form from Customer Service at Oxford County Administration Building in Woodstock.  

Comment

Larry Martin, Warden, Oxford County

“We have lacked affordable housing for years and this program is just one step in ensuring everyone has a place to call home in Oxford County. Providing affordable housing and more opportunities for residents to become homeowners is a priority for our Council and we will continue to offer tools, such as the Home Ownership Program, to address this important community issue.”

Rebecca Smith, Manager of Housing Development, Oxford County 

“This program exists for residents that can afford the monthly cost of home ownership but are unable to come up with enough money for a down payment. The program is supported by our 10-Year Shelter Plan which includes a variety of housing and homelessness strategies across the housing continuum.”