Frequently Asked Questions
Who is eligible for the Program?
- Your combined household income is below $135,000
- You work within Northumberland County or starting work within Northumberland County.
- You complete our registration & requirement process.
- You can qualify for a mortgage and gain funding approval from a bank.
- You provide the $2,000 down payment (we pay the remainder of the downpayment).
- You live in the home.
- It’s your only home.
- Your assets are less than 20% of the home’s purchase price, up to a maximum of $70,000 (this includes RRSP) but does not include (your primary vehicle, RESP, pension).
How does the down payment work?
Do I own the home?
You own the home, but Northumberland Workforce Housing Corporation is listed on the legal title of the home, along with you. You are the primary homeowner and can be comfortable in knowing your home is your own.
Do I retain any equity?
While we are investing together, NWH is a steppingstone for your housing journey, therefore as your stay in the home, your equity share grows.
| Years of Ownership: | Your Equity Share: |
| *0-1 Years | (0%, but you are eligible for the Principal Mortgage Amount Paid against the mortgage during the first year, if the home has appreciated in value). |
| *1-3 Years | (25%) |
| *3-5 Years | (50%) |
| *5+ Years | (70%) |
Where do I start?
It’s easy to register with Northumberland Workforce Housing. Go to our Registration page and complete a formal application. If our application window is closed, be sure to sign up for our newsletter to be informed when we have a new developments to release.
Am I able to have a co-signer?
Yes, you can have a co-signer.
Can I partner with a friend?
What happens when I want to sell?
Advise Northumberland Workforce Housing (NWH) when you decide you would like to sell your home. Together we will:
NWH will provide you a list of our accredited AACI appraisal partners.
You will have an appraisal completed by a AACI accredited appraiser partner and provides the report to NWH. NWH will reimburse the homeowner 50% of the appraisal cost or 100% of the appraisal cost, if NWH agrees to purchase the home.
NWH has 30 business days (from time appraisal report is provided to NWH) to decide, if they wish to purchase back your home.
The purchase price of the home is the appraised value from the appraisal report (minus the downpayment loan & NWH equity portion. See Pricing & Equity for more information).
NWH & homeowner agree to a closing date, 90 days after NWH agree to purchase the home (unless otherwise agreed with the homeowner).
Do the owners have to pay any condo fees?
Yes, all of our properties require monthly condo fees. These fees are based on the size of your home and the building’s annual operating budget. They cover the operation and maintenance of common areas, snow and garbage removal, and landscaping. In apartment-style condos, the fees may also include utilities such as heat, hot water, and waste. Additionally, the fees contribute to a reserve fund for future repairs or replacements, such as the roof, siding, fencing, or boiler. If you owned a single-family detached home, you would be responsible for all of these expenses yourself.
Am I able to have pets?
Yes you may have pets in your home, however, the specific types of pets allowed are determined by the individual properties and their bylaws. These rules may sometimes limit the number or size of pets. Generally, townhomes tend to have fewer restrictions than apartments. If you are thinking of getting a pet, or currently have one, please contact NWH to check the local bylaws.
