Homeownership Within Reach
Ch’ich’iyúy Hybrid homeownership benefits
Unlike renting, hybrid homeownership offers many benefits:
- Secure housing with no renoviction risk
- Long-term savings (equity building) that you can take with you if you decide to sell
- Financial stability knowing your monthly housing costs won’t exceed 30% of your monthly income
- Ownership stake of 30% or 50% that secures a home of your own for as long as you choose to stay
- Down payments that are below market and offer payment flexibility over a multi-month term
Monthly costs
The innovative hybrid homeownership model was designed for affordability with monthly housing costs based on resident’s gross monthly income.
- Buyers own 30% or 50% of their home
- Aboriginal Land Trust owns the balance of the home which is leased to the owner
An owner’s monthly housing costs include:
- Monthly lease payment to the Aboriginal Land Trust
- A mortgage payment to the owner’s lender
Total monthly costs would not exceed 30% of buyer's gross household income at time of purchase.