The Cochrane Society for Housing Options (CSHO) is a registered non profit organization whose mandate is to promote access to safe, suitable, and diverse housing appropriate to the incomes of Cochrane citizens, through education, and by facilitating the development, creation, and operation of a continuum of housing options.
This website is funded
through a grant from the
****As of June 2014, this Program is fully subscribed and there is no current funding for any new applicants.****
What is it?
- The CSHO Home Ownership Program is aimed at assisting hard working Cochrane Residents with low to moderate income gain access into home ownership. Maximum allowable purchase price to not to exceed $325,000.00*
- This program is specifically designed to meet the needs of First Time Home Buyers who have a stable income sufficient enough to support long term home ownership but do not have enough funds for a down payment.
- Approved Applicants ‘ will receive $40,000.00 from the CSHO to apply towards a down payment This down payment will be a combination of a loan and a grant. The loan to grant ratio will be individually determined for each applicant.
- The program allows the applicant to have direct control in the home selection process based on a pre-approved mortgage.
- Qualifying homes can be a new build or a pre-owned home in Cochrane (pre-owned homes are subject to a home inspection at buyers expense).
- Homes purchased under the CSHO Home Ownership Program must be the principal residence of the approved applicants. The program is designed to get families and individuals into home ownership and not for purpose of investment or revenue.
Applications are pre-approved through the Cochrane Society for Housing Options
Eligibility will be determined by the following criteria:
- Must be a resident of Cochrane or western Rocky View region for a minimum of 1 year
- Must be first time home buyer, or not have owned a home within the past 5 years
- Have qualifying gross incomes maximum $60,000.00 (individual,) $75,000.00 (family)
- Financial/Credit worthiness-applications are conditional upon credit pre-approval and ability to qualify for a CMHC insured Mortgage
- applicants will be scored on a needs assessment rating chart
- All applicants will be required to attend New Home Owner Workshops which will include topics such as Home Repair and Maintenance and Financial and Credit Management.
- Apply or inquire to Tracy Tilma firstname.lastname@example.org at 403-851-2283
- Qualified applicants will be contacted and assisted in acquiring bank and CMHC Approval for mortgage