At Baker Real Estate Incorporated, we are excited about representing Options for Homes’ new condominium, The Humber, where developer Options for Homes offers the most powerful homeownership program in Toronto – a Down Payment Loan Program that is payment free until buyers sell or move!
Options for Homes will boost a down payment of 5 per cent by 10 or 15 per cent of the purchase price of a new condo at The Humber to help qualified buyers secure a conventional mortgage. Purchasers can own homes sooner than expected, and take advantage of lower monthly carrying costs. They will also enjoy some of the lowest maintenance fees in Toronto. The loan is available to anyone who has a 5 per cent down payment, who qualifies for and secures a mortgage from a primary lender, and who plans to live in their Options home. First-time buyers may be eligible for an additional $60,000 to boost their down payments!
The opportunity is outstanding. Located at 10 Wilby Crescent in the up-and-coming Weston Village neighbourhood on the banks of the Humber River, The Humber boasts an idyllic setting with 13 km of trails and parks at the door, and with local conveniences and restaurants just a walk away. These include access to GO Transit, UP Express and the future Crosstown LRT. UP Express gets residents to Union Station in 15 minutes, and Pearson International Airport in 12.
This pet-friendly modern building features a social lounge and party room with a kitchen, rooftop terrace and social lounge on the 7th floor, outdoor barbecue patio, indoor bicycle storage, plus numerous green features for environmental sustainability including five electric vehicle spots. The Humber is also Toronto’s first smoke-less condo, limiting smoking in private suites to vaporizer or e-cigarette devices.
How can Options for Homes do it? The organization develops high-quality condominiums with building partners, takes what would typically be the developer’s profit and offers it as down payment support. Once Options buyers move, sell or pay off their primary mortgage, the loan is paid back with some appreciation – money that is rolled into Options’ next development project. Talk about paying it forward!
Baker is proud to be associated with this mission-driven social-enterprise organization that has operated for 25 years without government funding! Register for The Humber at https://www.optionsforhomes.ca/the_humber/