Affordable Housing Program

Home in Peel Affordable Ownership Program


cheap houses in mississauga

Are you tired of Renting in Mississauga? Do you want to pay yourself rather than someone else’s mortgage? Then this affordable ownership program is for you!

Peel region is offering a great incentive for residents to take pride in home ownership in Mississauga and Brampton. The Home in Peel Affordable Ownership Program is designed to provide residents who are currently renting, the opportunity to qualify for a down-payment loan assistance ($15,000) to buy a home in Peel Region. This program will assist eligible applicants who have a total gross (before-tax) household income of $80,000 or less to purchase a resale home in the Region of Peel (Brampton, Caledon or Mississauga) less than $295,000.

To qualify you must be eligible by satisfy the following:

  • Must be 18 years of age or older
  • You must not own or have an interest in another residential property anywhere in the world.
  • The home must be the only principal residence of the applicant
  • You must be currently renting and looking to buy a primary residence
  • Your total annual gross (before tax) household income must not exceed $80,000
  • You must be able to obtain a mortgage pre-approval from Canada Mortgage and Housing Corporation (CMHC) approved and from an insured lender which must be submitted with their affordable housing program application.
  • Applicant cannot include anticipated rental income from a portion of their property in their mortgage application.
  • Applicant must be able to pay for all closing costs (legal fees, land transfer tax, etc.)
  • You must supply all the necessary documentation to the Region of Peel in the application


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Eligible Homes

New homes are not eligible for purchase with the Home in Peel program.

Other housing types that are eligible consist of resale dwellings such as:

  • Detached
  • Semi-detached
  • Row homes
  • Attached/Town/Stacked homes (Condominium or freehold)
  • High-rise condominium units
  • Multi-family units (duplex/triplex, etc) or mobile homes do not qualify as eligible homes under the Home in Peel Program.

The maximum house price for program participants in the Region of Peel is $295,000.

With the real estate prices in Peel where they are now, you’re looking at a 1 or 2 bedroom condominium apartment or a stacked town house in Mississauga or a freehold semi or small detached in Brampton.

 First home buyer? Young professional? This is the program for you!


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The down payment loan is for a 20-year period and will be up to $15,000 and there is no interested charged if:

  • the home remains the principal residence of the owner. the home is not to be rented, leased or sold in the 20 year period.
  • and on the 20th anniversary date of the agreement, the loan will be forgiven as long as there hasn’t been any default to the requirements listed above.

You will need to repay the loan IF:

  • the property ceases to be the primary/principal residence of the owner/applicant.
  • the property is sold before the 20 year anniversary.

If the property is sold, transferred, or otherwise ceases to be the primary residence of the owner, and an appreciation in value is incurred, the purchaser will be required to pay back to the region of peel the loan and a 5% of the appreciation value (not of the down payment loan).

For example, under the home in peel program, you buy your property for $295,000 and sell your property for $300,000 before the 20 year anniversary, you will need to pay back the $15,000 down payment loan as well as 5% of the appreciation amount (example: $300k-$280k = $20k x 5% = $1000 + $15,000 = $16,000).

However, if the home is sold for less than the original purchase price, the owner does not pay any appreciation and the principal is forgiven. Having said that, the sale must be at fair market value, so no funny business here…

 The other costs that are involved for the purchase in the Home in Peel program will include:

  • Closing costs
  • Home Inspection
  • Legal Fees
  • Land Transfer Tax

In order to qualify and apply for the Home in Peel affordable housing program, applicants must complete the application form and provide all supporting documentation mentioned above and return it to the Region of Peel.


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Home in Peel Affordable Ownership Program

Region of Peel, Human Services

10 Peel Centre Drive

Suite B, 5th Floor

P.O.Box 2800, STN B

Brampton, ON L6T 0E7

Funding is limited and participants are selected on a first come first serve basis. Once application is received, a confirmation letter of eligibility will be sent within 2-3 weeks. There is no wait list for the program, once all funding has been given out, all remaining applicants will be notified that the program has ended.