468 Queen Street East Suite 310 P.O. Box 28 Toronto, ON, M5A 1T7
416-867-1501, in the main menu press 2
Catherine Thompson, Sales Operations Team Leadcatherinet@optionsforhomes.ca
Rae Ann Fera, Communications Managerraeannf@optionsforhomes.ca
Ryan Mcwaters, Sales Specialistryanm@optionsforhomes.ca
Frequently Asked Questions
We know you have questions about how Options for Homes can help you become a homeowner. We have answers!See all questions
What is Options for Homes?Read On
Options for Homes is Canada’s largest developer of affordable ownership housing. As a non-profit social enterprise our sole mission is to make homeownership more accessible for middle income households. We do that through the Options Ready Program, which is designed to help people become confident home buyers, provide financial literacy, and access to a shared equity down payment that helps make ownership more affordable. We have been in operation since 1994 and we’ve won nine industry awards. Our 15th condo is currently under development.
What qualifications are there for Ready Program?Read On
The down payment support available through the Options Ready Program is accessible to anyone looking to purchase a condominium with Options. The only requirements for down payment support are that you can qualify for a mortgage from a primary lender (a tier 1 Canadian bank or credit union), that you make a down payment of at least 5% at the time you sign the purchase agreement, and that you intend to live in the Options home.
Can I buy an Options condominium as an investment?Read On
No. We build condominiums for people who are looking for a place to call home. We strongly discourage investors as our mission is to help people to become homeowners. Upon purchase, you will need to sign an affidavit stating that you will occupy the unit. If you receive down payment assistance through the Options Ready Program, you will be required to repay it if you choose to rent out your suite.
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