Shared Equity Mortgage Providers Fund

The Fund helped eligible Canadians achieve affordable home ownership.

This $100-million lending fund supported existing shared equity mortgage providers. The Fund also encouraged additional housing supply and helped attract new providers of shared equity mortgages.

Launched in 2019, the Shared Equity Mortgage Providers Fund was a 5-year program. It aimed to assist in the completion of 1,500 new units and help at least 1,500 homebuyers buy their first home.

The program had 2 funding streams:

Preconstruction Loans — Stream 1
Supported funding for preconstruction cost loans for new housing projects offering shared equity mortgages to homebuyers through SEMPs.

Shared Equity Mortgages (SEM) — Stream 2
Provided loans to SEMPs to fund shared equity mortgages that they provide directly to first time homebuyers.