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Qualified buyers can find a new home in one of our vibrant communities, receiving an interest-and payment-free down payment assistance loan.
Woman with child

About The Program

H.O.M.E. EXPLAINED

  • Collecdev H.O.M.E. is an interest-free, payment-free loan to put toward your down payment.
  • This interest-free loan reduces your up front deposit requirement to only up to 6.5% as compared to a traditional 20% deposit for a market priced condominium.
  • The loan remains interest- and payment-free as long as you continue to reside in your Collecdev home.
  • When you sell your Collecdev home, or it’s no longer your primary residence, you will need to repay the loan.
  • If you sell for less than the original purchase price, the amount of the loan is reduced by the difference between the sales price and the original purchase price. If you sell for more than the original purchase price, you must repay the full loan along with the Capital Appreciation Amount.*

YOU QUALIFY IF…

  • You or your spouse do not yet own a home in Canada
  • You are currently renting
  • Your combined household income rate does not exceed $96,000
  • Your new Collecdev home will be your sole and principal residence
  • You are a permanent resident of Canada
  • You are 18 or older
  • Application requires a valid photo ID, your CRA tax assessment from the previous year, proof of a stable source of income, and a signed declaration that all information provided is accurate

OWN WITH UP TO 6.5% DOWN

Qualify for Collecdev H.O.M.E. and you can also take advantage of our exclusive deposit structure that allows you to purchase a Collecdev unit with just 6.5% down. Here’s
how it works…

  • Put down $5,000 at time of signing
  • Pay the balance of 6.5% within 30 days

Collecdev H.O.M.E. loans are made possible through the support of the Government of Canada, Ontario, and the City of Toronto. Together, we believe in building communities that will flourish for decades, anticipating the future while balancing the needs of today and making good design, social connection, and inspiring communities accessible for all.

HC

THE FINANCE MODEL

Select
Purchase 1-Bedroom Suite
Purchase 2-Bedroom Suite
Purchase Price:
$370,102
Your 6.3% Deposit:
$23,301
HOAP at $25,000*
IAH at $25,720*
Total: $50,720 free loan
(13.7% of the Purchase Price)
Bank Mortgage:
$296,082
Monthly Mortgage
Payment: $1,299
$1,899
Your home appreciates
and you sell 5 years later
Original Purchase Price:
$370,102
Increase in Value:
$102,252 (5%/year)
Resale Price:
$472,354
Re-pay bank mortgage:
$246,976
Re-pay HOAP & IAH
Funds: $64,733
**Calculated at
(IAH + HOAP)/Purchase Price x Resale Price.
$110,657
*Estimated based on a 447sf, 1-bed unit.
TD Bank’s 5-year fixed rate (3.34%, 30 yr. amortization) + Maintenance Fees ($0.60) + Property Taxes (0.75%) + Heat Expense ($100/month)
** Assuming a 5% commission fee and less the initial deposit amount $23,301.
Purchase Price:
$456,943
Your 6.2% Deposit:
$28,345
HOAP at $25,000*
IAH at $38,043*
Total: $63,043 free loan
(13.8% of the Purchase Price)
Bank Mortgage:
$365,554
Monthly Mortgage
Payment: $1,604
$2,321
Your home appreciates
and you sell 5 years later
Original Purchase Price:
$456,943
Increase in Value:
$126,245 (5%/year)
Resale Price:
$583,188
Re-pay bank mortgage:
$304,927
Re-pay HOAP & IAH
Funds: $80,461
**Calculated at
(IAH + HOAP)/Purchase Price x Resale Price.
$136,504
*Estimated based on a 553sf, 2-bed unit.
TD Bank’s 5-year fixed rate (3.34%, 30 yr. amortization) + Maintenance Fees ($0.60) + Property Taxes (0.75%) + Heat Expense ($100/month)
** Assuming a 5% commission fee and less the initial deposit amount $28,345.
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