The most powerful program in Canada helps you realize your dream of owning a home up to 10 years sooner! With only 5% of your own money down, we offer a high-quality condo with the lowest possible maintenance fees and a Down Payment Loan worth up to $100,000 at our newest development – The Humber!
Options is Canada’s largest developer working exclusively on making home ownership more affordable. Operating for 25 years without government funding, we are a mission-driven social enterprise that turns home ownership dreams into reality.
Options develops high quality condos with our building partner Deltera (of the Tridel Group of Companies). We take what would normally be a developer's profit and offer it to purchasers as down payment support to make home ownership more accessible sooner.
We give a hand-up, not a hand-out.
Our award-winning model offers you a Down Payment Loan that is payment-free until you sell or move. We boost your down payment of 5% by 10% to 15% of the purchase price of your new home to help you secure a conventional mortgage, and since the amount is lower, this makes your monthly carrying costs lower too.
When you move, sell, or pay off your primary mortgage, the loan gets paid back plus some appreciation. If the loan towards your down payment was 10% to 15%, now 10% to 15% of the current home value is due back.
You may be eligible for an additional $60,000 to further boost your down payment if you’re a first-time buyer.
The Options Down Payment Loan is available to anyone who wants it, regardless of income or whether they have previously owned a home. The only requirements are that you have a 5% down payment, qualify and secure a mortgage from a primary lender, and plan to live in your Options home.
You can choose to take a loan worth 10% to 15% of the purchase price of the home. When you sell, no longer live in your home (or anytime before that if you choose), or if you repay your primary mortgage in full, 10% to 15% of current market value of your home is due back. This is why it's called a shared appreciation loan. The repaid loans go into a “pay-it-forward” fund, which is used to provide seed funding for communities that make home ownership possible for even more families and individuals. The Options Down Payment Loan is a second mortgage issued through our funding partner, Home Ownership Alternatives (HOA).
No. We only offer the Down Payment Loan for Options for Homes developments.
Located on Danforth Road just north of Eglinton Avenue East, this condo overlooks a large, lush park that features walking trails, basketball courts, and an outdoor swimming pool. Built by Deltera, part of the Tridel Group of Companies, owners occupied beginning fall 2017.Find out more
This community is located at 35 Saranac Blvd, at Bathurst Street, two stoplights north of Lawrence Avenue West in the heart of one of Toronto’s oldest neighbourhoods. Built by Deltera, part of the Tridel Group of Companies, Cranbrooke Village suites range in size from bachelor to 3-bedroom. Bathurst and Lawrence is well served by public transit and is home to a large variety of shops and restaurants including the Lawrence Plaza with a Metro grocery, Winners, and banking facilities just a 2-minute walk away.Find out more
Located in the heart of Toronto’s Junction neighbourhood at 60-61 Heintzman Street, Heintzman Place is served by TTC bus routes, is in the midst of various shops and restaurants, and is a 15-minute walk from High Park and Keele Subway Station. Built by Deltera, part of the Tridel Group of Companies, this is Options’ largest development with 643 suites in two towers. Suites range from 400 sq. ft. bachelors to 1185 sq. ft. 3-bedrooms.Find out more
An ideal location, Old Kennedy is at 90 Old Kennedy Road, within blocks of the Milliken GO Station, the Pacific Mall, grocery stores, banks, restaurants, schools, parks, and more. It was built by Deltera, part of the Tridel Group of Companies and consists of 140 stacked townhouses ranging in size from 685 sq.ft. to 1110 sq.ft.Find out more
The Village at Guildwood's 36 townhouses and 9-storey apartment building were completed by Deltera, part of the Tridel Group of Companies, in 2006 at 3650 Kingston Road at the corner of Eglinton Avenue East and Kingston Road on the edge of the Guildwood area. Suites range in size from 435 sq. ft. up to 1,180 sq. ft. Lockers and parking are also available to residents.Find out more
The final phase of TRIDEL's Discovery Place, this community is located at 1200 The Esplanade North next to the Pickering Town Centre and minutes from the 401. Completed in September 2006, this 11 storey tower with 219 suites offers a full range of amenities.Find out more
This condominium offered both apartments (380) and townhomes (51), close to all necessary shopping amenities and within minutes of the University subway line – only 15 minutes by subway to Toronto's city centre! Located at 650 Lawrence Avenue West. Another quality building constructed by Deltera, a part of the Tridel Group of Companies.Find out more
One of Options' first developments is located in Toronto's Historic Distillery District. The three-phased development made up of the Mill Street, St. Lawrence, and Parliament Square condominiums was completed in 2001 with construction by Davies Smith Developments.Find out more
Situated on the banks of the Humber River on Wilby Crescent, this condo offers uninterrupted southwest views of the river and is mere steps from the Weston GO station and the UP Express, which will get you to Union Station in 15 minutes! The Humber will be built by Deltera, plus, we'll lend you 10% to 15% of the purchase price towards your down payment with the innovative Options Down Payment Loan.Find out more
The Village by Main Station is built by Deltera, part of the Tridel Group of Companies, at 8 Trent Avenue. Just east of Danforth Avenue and Main Street and a 5-minute walk from Main Street subway station, this condo is ideally situated amidst a variety of shops and restaurants that line Danforth Ave making it a dynamic place to live. The neighbourhood is also home to a number of public recreation spaces, schools, and places of worship. FOR IMMEDIATE OCCUPANCY.Find out more
A new Options development will be located just west of Water Street and Concession Street in Historic Galt. Walking distance from the shops and restaurants lining Main Street and the Cambridge Farmer's Market, Grand Willow will be a mid-rise condo overlooking the Grand River - just a 13-minute drive to the 401!Find out more
Options is always working on finding new development opportunities to meet the growing demand for affordable home ownership. Presently we are in various stages of pre-development on several sites including Toronto and Scarborough. Sign up for our newsletter to keep up to date on all our developments.Find out more
Priority Access puts you among the first in line to reserve a suite at upcoming Options developments! Your $150 Membership gives your access to suite plans and prices for new condos before they launch to the public. Your Membership fee is returned to you once you close on your home.
Priority Access gets you:
During your appointment with an Options Purchase Consultant, you will learn about the Options home ownership model and how the down payment loan works, review suite plans and prices, and begin your purchase. Your Purchase Consultant will review all costs associated with purchasing an Options suite to help find the best home to fit your life.
Once you sign a Purchase Agreement, your 10-Day cooling-off period begins as per the Ontario Consumer Protection Act.
If you are not able to go through with your purchase because of financial limitations, your $150 keeps working for you ensuring that you’ll be invited to purchase at future Options developments before they are released to the public.
When you purchase a home from Options, $100 of your deposit will be returned at closing (the other $50 is kept to cover HST and financial institution processing fees).
Yes, you can. We can serve you in two ways:
When Kyle Paranuik's parents were in their mid-20s, they bought their first house in small-town Ontario for $45,000. Thirty-five years later, Paranuik bought his own first home in downtown Toronto — but it was a lot smaller (540 square feet), it cost a lot more ($691,500) and at age 31, he was quite a lot older.Read More
Livabl's round-up of 10 up-and-coming condo and townhome new construction projects happening close to the GO. All of these developments are slated for completion by 2022.Read More
In this podcast, Heather Tremain, CEO of Options for Homes, speaks with Sean Cooper of Burn Your Mortgage about shared-equity mortgages and how does they differ from a traditional mortgage.Read More
Options for Homes has just been awarded $5.4 million from the City of Toronto through the Home Ownership Assistance Program. With this support, eligible buyers can now qualify for a downpayment boost of up to 24 percent at Options' newest development, The Humber.Read More
We’re here to help you become a homeowner 10 years sooner.
468 Queen Street East
Suite 310 P.O. Box 28
Toronto, ON, M5A 1T7