First Generation Home Grants

You may qualify as a first-generation homebuyer if you and your parent(s) or legal guardian(s):

• Have never owned a home (in any country) OR
• Owned a home but lost it due to foreclosure.
• If you do not know if your parent or legal guardian owned a home or lost it due to foreclosure, you may still be eligible for the program.

The first-generation homebuyer loan is a deferred, interest-free and forgivable loan. Half of the loan is forgiven after 10 years and the rest after 20. To be eligible for forgiveness, you must reside in the home through the forgiveness date. 

The program offers loans up to $35,000. You must be using a Start Up First Mortgage loan to buy your home to qualify for the First-Generation Homebuyer loan. 

If you meet eligibility requirements, you could also combine this program with one of our standard downpayment and closing cost loan options. If eligible, you can qualify for up to $53,000. 

You can use the loan for a variety of expenses, including downpayment and closing costs.