Home Ownership Alternatives

website:

http://hoacorp.ca

Company details

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What does it do?

HOA makes homes affordable in three ways. ONE - HOA supports developers of new ownership housing with initial project financing, and provides down payment help in the form of 2nd mortgages to homebuyers. HOA helps developers of new affordable homes with two forms of project financing. 1.HOA lends its development partners early-stage funding to assist with feasibility studies, land acquisition, building design and early marketing and sales 2.When construction starts, HOA provides the substantial financial guarantees needed to arrange construction financing from conventional sources. HOA promotes affordability by supporting housing developments that target a cost per unit which is 10% to 15% below local, low-end-of-market prices. Low actual costs are achieved through many means including intelligent land acquisition, effective designs, and low overhead, financing and marketing costs. Achieving low cost does not mean compromising on quality or sustainable “green” features. TWO - HOA provides 2nd mortgages to home buyers, thereby reducing the amount they need for a down payment and the level of income needed to purchase a home. THREE - HOA vigorously advocates for government policies and programs that have large scale impacts increasing the supply of affordable housing and the degree of affordability of the homes.