Resources tagged with 'help to own house'

Provides an opportunity to PEI residents to own an eligible home that is up to maximum value of $350,000 (including HST, if any). Finance PEI will purchase a home on behalf of an approved participant who will in turn enter a five year Rent-to-Own agreement with Finance PEI on the same day the home is purchased. Participants will pay the rent to Finance PEI, and a portion of the payments shall accrue in favor of the participant to use the amount to exercise their purchase options below:

• Reduce the purchase price payable to Finance PEI ("Purchase Price Credit")
• Be used towards the cash down payment required to obtain the mortgage financing required to complete the purchase from Finance PEI ("Downpayment Credit")