Gateway Homeownership Program

Looking for a Way to Make Homeownership a Reality?

The Gateway Muskoka Homeownership Program is a locally funded down payment assistance program designed to help families and individuals with modest incomes make homeownership a reality. The program joins other local housing initiatives that make up the Muskoka Affordable Housing Initiative Program (MAHIP).

The Gateway program provides eligible families and individuals with down payment assistance for purchasing a home. The program was initiated by a local couple who recognized the need for an affordable homeownership program in the District of Muskoka.

Program Rules

Down payment assistance loans are available of up to the lesser of $70,000.00 or 10% of the house purchase price. The maximum purchase price of a home is $726,600. The down payment assistance loans are available through an application process. Gateway down payment assistance loans are limited and therefore may not be available to all eligible applicants.
Applications for the program will be available on an annual basis until all loans have been awarded.
Applicants must enter into a loan agreement with The District Municipality of Muskoka and the Gateway down payment assistance loan will be registered on title against the lands. A copy of the loan agreement is available upon request.
A home inspection is required for resale homes and strongly recommended for new homes, and must be undertaken at the purchaser's expense.
Closing costs must be paid in full by the applicant and cannot be paid for through the down payment assistance loan.
Upon submission of Agreement of Purchase and Sale (APS) to the District, applicant must provide proof of funds for closing costs (e.g. copy of current bank statement).

Eligibility Requirements

Homes must be new or for resale.
The purchase price of the home shall not exceed at $726,600 and must be located in Muskoka.
Persons seeking funds to offset construction costs on land that they currently own are not eligible for funding.
Units may be detached, semi-detached, condominiums, or town houses.

Minimum Household Eligibility

Cannot currently own a home or have any vested interest in a residence/land. Must be a household buying a sole and principal residence.
Must provide proof of total household income at or below $112,400.
Must provide proof of total household asset level at or below $50,000 for an individual and $75,000 for households (includes Savings, GIC's, RRSP's (for first time home buyers), gifts, and property or land, but does not include RESP's, or items such as vehicles).
Must be at least 18 years of age, a Canadian citizen, landed immigrant, or have Refugee Claimant status.
Must supply photo identification and birth certificate.
Must provide documentation showing mortgage pre-approval at time of application.

Application Process

Download the Application at the following link: Gateway Application
Only complete applications will be considered for eligibility.
An application must have all information entered, and all supporting documentation provided to be considered complete.
Upon determination of eligibility, the approved applicant will receive a conditional commitment letter which can be presented to a financial institution.
Eligible applicants must provide a copy of the 'Agreement of Purchase and Sale' within 2 days of signing. Offers conditional on financing must allow a minimum of 10 business days for processing. The closing date must be a minimum of 15 business days after all conditions have been met.
Funding is limited and subject to availability.
Applicant(s) are required to sign the loan agreement and additional mortgage documentation, as required.
Funds are paid directly to the applicant's lawyer on closing.

How can you support this program?

Would you like to build on this legacy gift and help families in the District of Muskoka achieve homeownership? Making a donation to the Gateway Program will make homeownership a possibility for individuals and families throughout Muskoka. Tax receipts will be provided. For more information about supporting this program call 705-645-2412 x 4410.