Released on July 31, 2006
Affordable homeownership is now within reach for more northern Saskatchewan residents than before, thanks to the recent expansion of the Centenary Affordable Housing Program (CAHP) – Homeownership Option to the northern communities of La Ronge, Air Ronge, Denare Beach and Creighton.Offered through Saskatchewan Housing Corporation (SHC), the CAHP – Homeownership Option will help more people become homeowners by offering a one-time, forgivable equity loan of up to $19,500 based on household income and the cost of the home purchased.
This option for homeownership will help create more stability for families, their communities and the province as a whole. It also means a better financial future for families as they build equity in their homes.
"We are pleased to provide our northern residents with homeownership options and help make their dreams of homeownership a reality," Community Resources Minister Buckley Belanger said. "Investing in the expansion of CAHP to the North supports HomeFirst, our five-year provincial housing strategy. Through HomeFirst and programs like CAHP, we can bring affordable, accessible housing to thousands of low-income Saskatchewan people, helping to ensure that no one is left behind."
"Housing is a critical issue in northern Saskatchewan," Northern Affairs Minister Joan Beatty said. "The extension of the CAHP program will bridge a significant gap and help northern Saskatchewan residents attain further independence. It will also provide significant opportunities for communities to work together in developing affordable housing options."
Saskatchewan Housing Corporation is also increasing the Maximum Income Limits (MILs), which are used to determine eligibility for provincial housing programs such as CAHP. In southern Saskatchewan, the MIL increased from $39,500 to $44,500 while in remote northern communities, the MIL increased from $49,500 to $62,000. The revised MILs are effective immediately.
"Saskatchewan supports and recognizes the urgent need to develop more housing throughout Saskatchewan, particularly in the North," Belanger said. "The revised Maximum Income Limits and the CAHP extension will provide greater access to quality, affordable housing for more low to moderate-income households, and helps to ensure Saskatchewan continues to be the best place to live, work and raise a family."
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For More Information, Contact:
| Linda Saliken Community Resources Regina Phone: (306) 787-0246 Email: lsaliken@dcre.gov.sk.ca |