New Langford grant offers payment support for new homebuyers
The City of Langford has launched a new program to help its residents move from renting a home to owning one.
The West Shore community is offering down payment assistance under its new "Attainable Home Ownership Program."
The program will provide a grant to Langford residents who have lived in the city for at least two years – and who have a combined family annual income of less than $125,000.
The grant will help new owners secure up to 75 per cent of the required five per cent down payment needed to qualify for a mortgage on a two-bedroom condo with a set purchase price of $450,000.
The home ownership program is funded by contributions made by developers to Langford's housing affordability fund, according to the municipality.
Langford Mayor Stew Young says the fund, which currently sits at more than $3 million, will help roughly 250 families own a home in Langford.
"It's getting Langford residents that are working out here into a home to raise their family, and it's a starting point," Young told CTV News on Tuesday.
"They can buy a single-family home on their own later on as their circumstances change, but getting into the market is a really important first step and we're trying to help that along," he said.
The city is accepting expressions of interest from qualified buyers now, with applications for the grants opening in January.
Further details on the grant and on eligibility requirements can be found on the City of Langford's website.
CTVNews.ca Top Stories
'It could be catastrophic': Woman says natural supplement contained hidden painkiller drug
A Manitoba woman thought she found a miracle natural supplement, but said a hidden ingredient wreaked havoc on her health.
WATCH Video shows dramatic police takedown of carjacking suspects chased through parking lot north of Toronto
Police have released video footage of a dramatic takedown of a group of teens wanted in connection with an attempted carjacking in Markham earlier this month.
After hearing thousands of last words, this hospital chaplain has advice for the living
Hospital chaplain J.S. Park opens up about death, grief and hearing thousands of last words, and shares his advice for the living.
DEVELOPING G7 warns of new sanctions against Iran as world reacts to apparent Israeli drone attack
Group of Seven foreign ministers warned of new sanctions against Iran on Friday for its drone and missile attack on Israel, and urged both sides to avoid an escalation of the conflict.
WHO likely to issue wider alert on contaminated cough syrup
The World Health Organization is likely to issue a wider warning about contaminated Johnson and Johnson-made children's cough syrup found in Nigeria last week, it said in an email.
Advocacy groups speak out against domestic violence comments by Nova Scotia minister
Several Nova Scotia groups that assist women are speaking out against comments on domestic violence by Justice Minister Brad Johns, and at least one is calling for his dismissal.
A couple lost their wedding rings during the ceremony. Two strangers found a fitting solution
Every good wedding has to have one teensy, tiny crisis.
'It was all my savings': Ontario woman loses $15K to fake Walmart job scam
A woman who recently moved to Canada from India was searching for a job when she got caught in an online job scam and lost $15,000.
Families to receive Canada Child Benefit payment on Friday
More money will land in the pockets of some Canadian families on Friday for the latest Canada Child Benefit installment.