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, you can obtain a high-quality condo with the lowest possible maintenance fees and an additional down payment loan worth up to 25% of the purchase price 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). Working with our funding partner, 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 allows you to access a down payment loan that is payment-free until you sell or move. This model can 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 from our funding partner to further boost your down payment if you’re a first-time buyer.
The 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 Down Payment Loan is a second mortgage issued through our funding partner, Home Ownership Alternatives (HOA). The repaid loans go into a “pay-it-forward” fund, managed by HOA, which is used to provide seed funding for communities that make home ownership possible for even more families and individuals.
HOA Mortgage Brokerage Licence #12009
No. The Down Payment Loan is only available for Options for Homes developments.
— Cheryl
Thank you for your interest in our Priority Access program. We are not issuing new memberships at this time.
If you are already a Priority Access member, your membership is still valid for any future Options for Homes projects – like our upcoming development at Dunelm St and Markham Rd. in Scarborough. And if you're not an existing Priority Access member you can still register to receive development updates and news about launch, pricing and floor plans.
Sign up for our newsletter to be notified about new Options condos and keep up with all our other developments.
We’re here to help you become a homeowner 10 years sooner.
416-867-1501
[email protected]
[email protected]
Tel: 416-867-1501
Fax: 416-867-1743
468 Queen Street East
Suite 310 P.O. Box 28
Toronto, ON, M5A 1T7
Client Success
[email protected]
Tel: 416-867-1501, in the main menu press 2.
Kasia Mirecka
[email protected]
Tel: 416-867-1501 x 229
Quinn Samardzic
[email protected]
Tel: 416-867-1501 x 225
Quinn Samardzic
[email protected]
Tel: 416-867-1501 x 225