Qualifying for the Manitoba Metis Federation Free Down Payment Mortgage Program

The Manitoba Metis Federation (MMF) is dedicated to supporting Métis citizens across Manitoba, striving to improve their access to homeownership. Laurie Boudreau, a Winnipeg top mortgage broker with Castle Mortgage, is here to guide clients through the nuances of this program and other mortgage options. With over 20 years of experience, Laurie is well-equipped to help those seeking to make their homeownership dreams a reality.

Overview of the Manitoba Metis Federation Free Down Payment Mortgage Program

The Manitoba Metis Federation’s Free Down Payment Mortgage Program (FTHPP) is a vital initiative aimed at assisting Métis citizens in purchasing their first home. Managed by the Louis Riel Capital Corporation (LRCC), this program provides financial support to overcome one of the most significant barriers to homeownership for many: the down payment. By offering targeted assistance, the FTHPP helps Métis individuals and families secure affordable housing and transition from renting to owning a home.

Program Benefits

The FTHPP offers substantial financial benefits designed to ease the process of buying a home. Eligible participants can receive up to 5% of the home’s purchase price, capped at $18,000, to be used toward their down payment. The program also provides up to 1.5% of the purchase price, with a maximum of $2,500, to cover closing costs like legal fees and land transfer taxes. This support is crucial for many Métis citizens who may otherwise struggle to save enough for these initial costs, making homeownership more accessible and less financially burdensome.

Eligibility Criteria

To qualify for the FTHPP, applicants must meet specific criteria. They need to be residents of Manitoba for at least six months and provide proof of Métis citizenship, such as a Métis Citizenship Card or a letter from the MMF. Applicants must be at least 18 years old and must demonstrate the ability to secure a mortgage from a recognized financial institution. Priority is given to individuals in social housing or those escaping abuse. The program also requires that the home being purchased is the applicant’s primary residence and that the applicant does not own any real estate valued above $30,000.

Eligible and Ineligible Properties

The FTHPP is designed to support a variety of housing types, ensuring that participants have options that meet their needs. Eligible properties include newly constructed homes with warranties, resale market homes, ready-to-move homes on permanent foundations, and mobile homes on owned land. However, homes located in life-lease communities, on leased land, or in trailer parks are not eligible. The program also excludes self-builds and progress draw constructions.

The Role of Laurie Boudreau in the Application Process

Laurie Boudreau plays a crucial role in helping clients navigate the FTHPP. With her extensive knowledge of the program and the mortgage industry, Laurie can provide personalized advice, assist with the application process, and offer insights into securing the best mortgage terms. Her expertise ensures that clients can make the most of the FTHPP benefits and find a mortgage solution that perfectly aligns with their financial goals.

Learn More About Getting Help With Your Down Payment by Contacting Laurie Boudreau

The Manitoba Metis Federation Free Down Payment Mortgage Program is an invaluable resource for Métis citizens seeking to purchase their first home. By providing financial assistance for both down payments and closing costs, the FTHPP helps make homeownership more achievable. For those interested in applying or needing further guidance, Laurie Boudreau with Castle Mortgage is ready to offer expert support and personalized service. Contact Laurie Boudreau today to explore how this program can benefit you and start your journey toward homeownership.

Contact Information:

Laurie Boudreau - Mortgage broker with Castle Mortgage

1345 Waverley St
Winnipeg, MB R3T 5Y7
Canada

Contact Laurie Boudreau
+1 204-949-1500
https://www.laurieboudreau.ca/