Thank you, Madam Chair. Yes, we have, because there are certain responsibilities individuals have. Sure, you can put an application in, but it's approved based on certain conditions. You have to be able to acquire a mortgage from a bank. You have to go to a financial institution. You have to identify exactly what your income threshold is and make sure you can afford to pay down the mortgage. Last, but not least, it's conditional that you obtain financing through a bank before we go forward with the application. There is also a 90-day time period where you have to ensure that you go through that process in the 90 days, have all the information provided to the Housing Corporation, and maintain a mortgage which is guaranteed through a bank. So there are conditions that you have to meet and if you do not meet those conditions, your application is pulled. Thank you.
David Krutko on Question 30-15(4): Expanded Downpayment Assistance Program
In the Legislative Assembly on May 27th, 2005. See this statement in context.
Return To Question 30-15(4): Expanded Downpayment Assistance Program
Question 30-15(4): Expanded Downpayment Assistance Program
Item 6: Oral Questions
May 26th, 2005
Page 59
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