Yukon Housing Corporation Introduces Improved Financial Lending
WHITEHORSE, YUKON, April 29, 2016 — Yukon Housing Corporation is introducing more progressive terms for its Home Repair Program. Enhancements to the program include higher loan maximums, a longer amortization period, low interest rates, and forgivable loans or grants to improve the quality of Yukon homes for qualifying low-income applicants. Funding support for the Home Repair Program is being provided by the Government of Canada, through Canada Mortgage and Housing Corporation and the Government of Yukon, through Yukon Housing Corporation, under the Investment in Affordable Housing 2014-2019 agreement.
“Through investments in affordable housing, our Government is providing assistance to those who need it most here in Yukon and in all corners of the country,” said Larry Bagnell, Member of Parliament for Yukon, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation. “Enhancing the Home Repair program will help create new jobs and stimulate the local economy, while providing access to safe, affordable homes for Canadian seniors, families and individuals.”
“We encourage Yukon homeowners and landlords to make the important upgrades and perform the necessary maintenance to their homes,” Minister responsible for the Yukon Housing Corporation Stacey Hassard said. “A house is the single largest investment people will ever make, and regular maintenance and repairs will help to retain its value, comfort and safety.”
The changes to the lending programs offer options to all Yukoners, in particular to low-to-moderate income people who may not otherwise be able to access financing through traditional lenders.
The program also provides loans to make accessibility improvements, so that persons with disabilities can continue to live independently with greater safety, comfort and convenience. A Secondary Suite Program provides assistance to property owners who would like to add a secondary living suite to their existing home, where zoning allows.
The Owner Build Program is also available to bank-ineligible and first-time homebuyers to finance the self-construction of a new home anywhere in Yukon.
Details on the improved Home Repair Program are on the Yukon Housing Corporation’s website www.housing.yk.ca.
Follow us on Twitter @CMHC_ca.
Communications, Yukon Housing Corporation
Public Affairs, CMHC