After CMHC unceremoniously dumped its First Time Home Buyer Incentive, the future of shared equity down payments came into question. But Ourboro wants people to know that this strategy is very much alive.
The shared equity provider just expanded into Ottawa from its present service areas: the GTA (all seven regions of TRREB), Kitchener/Waterloo, Guelph, Hamilton, and London. We're told that other provinces could come within 12-18 months.
The company says it has now closed 100 shared equity deals (worth $80 million). That may not sound like much, but Chief Product Officer Alex Kjorven dubs it "a phenomenal milestone from a proof of concept perspective."
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