We’re a non-profit condo developer helping people become homeowners by helping them secure down payment support through our funding partner. We have 25 years of experience, and we’ve won nine industry awards. Our 15th condo is currently under development.

We are not social housing. We are developers of high-quality condos and townhomes with a social purpose. We believe that everyone who can afford the carrying costs of a mortgage should be given the opportunity to own a home sooner rather than later. The security of home ownership and the financial returns often associated with it are a social benefit and we’re proud of the way our developments have transformed lives and communities all over the city of Toronto.

Anyone. You just need a 5% down payment, the ability to secure a mortgage with a primary lender by closing, and intend to live in your home.

Your first step is to register for the condo you are most interested in from our Now Selling section!  We will provide you with more information, connect you with our banking partners to get pre-approved for a mortgage and help you set up a meeting with an Options Agent.

We strongly discourage investors as our mission is to help people who need a home to live in themselves. In all future developments you will need to sign an affidavit stating that you (or someone else on title) will occupy the unit.

We are not motivated by profit but rather a mission-based goal to help more people become homeowners. We take what would normally be a developer’s profit and through our funding partner make it available to purchasers as a down payment loan. 

Down payment loans are available to anyone, regardless of income or whether they have previously owned a home. The only requirements are that you qualify for a mortgage from a primary lender (bank, credit union), that you make a down payment of at least 5% at the time you sign the Purchase Agreement, and that you plan to live in the Options home whether or not you own somewhere else.

The Options Down Payment Loan is a second mortgage issued through our funding partner, Home Ownership Alternatives (HOA). Loans are typcially available in the amount of 10% to 15% of the purchase price of the home (the amount varies by development, suite size, and how far along in the sales process you purchase). When you sell or rent your home, or when you repay your primary mortgage in full (or anytime before that if you choose), you repay 10% to 15% of the current market value of your home. This is why it's called a shared appreciation loan. The repaid loans go into a “pay-it-forward” fund, which managed by HOA and is used to provide seed funding for communities that make home ownership possible for even more families and individuals.

HOA Mortgage Brokerage Licence #12009 

At the time you sign your Purchase Agreement.

At closing. However, you'll have to provide a mortgage pre-approval by a financial institution before you meet with an Options Agent.

Yes. The more money you put down, the better it is for you, as it will lower your mortgage payment amount. The Down Payment Loan of up to 10% to 15% is still available to top up your down payment. The down payment contribution amount is not tied to the amount of your down payment. It’s tied to the value of the home.

Yes! Our condos offer suite styles that meet a wide range of mobility needs. Speak with your Options Agent for more details.

Yes, we do! Options has built developments across the GTA. We are now selling at Jasper Condos in Milton, ON, and registration is now open for condo in Scarborough, ON. Sign up for our newsletter to receive updates as new condos launch!

After we sell a home, it is resold like any other home on the market. To purchase a home at a past Options development, you must purchase it directly from the owner, and unfortunately there is no down payment boost.

Yes, we do. Please call us at 416-867-1501 x 221 during business hours for more information. 

Options doesn’t issue mortgage loans. We offer you the opportunity to take a down payment loan, through our partnership with Home Ownership Alternatives (HOA), which can help you qualify for a first mortgage with a lender, and borrow less. The lenders who recognize our down payment loan are BMO, Meridian, TD and CIBC. If you’re not taking any down payment loan, you can secure your mortgage from a lender of your choice.

Options for Homes is not a mortgage lender, therefore, we don’t evaluate your credit or income. You must consult a mortgage lender or credit counsellor to know exactly where you stand and how you can improve your score. We recommend Meridian, BMO, CIBC or TD for mortgages and Credit Canada for credit counselling. Please contact us at 416-867-1501 for our contacts at each bank who are knowledgable about Options for Homes.

This isn’t something Options can determine. We recommend contacting our partners Credit Canada for the answer.

We currently have a small but mighty staff of 26 people.

No. We only offer the Down Payment Loan for Options for Homes developments.

We may build townhomes in the future, but right now, all of our current developments are condominiums.

Deltera, part of the Tridel Group of Companies. As a result, we offer exceptional customer service and excellent selection of standard suite finishes and upgrades.

Register for any of our condos featured in the Now Selling section and we will send you more information. 

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.