London is Giving Away $25,000 Interest-Free to Help You Buy a Home

✅ Start Here: Get Pre-Approved First

Why pre-approval first? The City of London requires proof that you can actually get a mortgage before they'll consider your application. Without knowing if you qualify based on your income, existing loans, and credit score, there's no point applying to the City—it would just waste everyone's time.

Our process is simple:

1. You fill out our quiz (2 minutes)
2. We review your financials and determine if you can qualify for a mortgage
3. We get you pre-approved with one of our 50+ lenders
4. We submit your City of London application on your behalf

👉 Ready to see if you qualify? Take the quiz now

Buy a $500,000 Home with $0 Down Payment Out of Pocket

Here's the math that will blow your mind:

That's right—if you qualify for a mortgage and have money for closing costs, London will cover your ENTIRE down payment.

Why Are You Still Renting When You Could OWN?

Let's be brutally honest: Every month you pay rent, you're building someone else's wealth—not yours.

That $1,800/month rent check? Gone forever. Your landlord thanks you.

But what if that same $1,800 went toward a home YOU own? After 20 years:

The difference? About $432,000 in rent payments that disappeared vs. a home worth potentially $600,000+ that YOU own.

And here's the kicker: The City of London will GIVE you up to $25,000 to make this switch. Interest-free. Forgiven after 20 years.

🔥 What You Actually Need to Buy a Home

Forget saving for years. With this program, here's what you actually need:

The most important step? Getting pre-approved for a mortgage. Without it, the City won't even look at your application. We'll handle both.

💡 The Real Math: Rent vs. Own in London

Let's compare a typical London renter vs. someone who uses this program:

That extra $300/month in the early years? It's not a cost—it's a forced savings account that grows.

Why This Program is a Big Deal

Compare this to a typical loan: A $25,000 personal loan at 8% interest over 20 years would cost you nearly $50,000 in total payments. London's program? $0 in interest. $0 repayment if you stay.

⚡ Act Fast: Funding is Limited

✅ Official Program Requirements (from City of London)

Eligibility Criteria

• Applicant must be at least 18 years old
• Applicant cannot currently own a home or residential property (in whole or in part, including recreation or cottage property)
• Cannot be living in a spousal relationship with a person who owns residential property
• Total household liquid assets cannot exceed $100,000
• Maximum house price is $500,000
• Maximum income limits: $95,000 for single person | $115,000 for family
• Applicant must be a renter in London or Middlesex County
• Must agree not to lease the home or individual rooms and must occupy the home for duration of loan
• Must be eligible to obtain a mortgage at a recognized financial institution
• Must be able to pay all closing costs
• All homes must have a home inspection
• Must sign loan agreement

Loan Terms

• Interest-free forgivable loan over 20 years
• Covers up to 5% of purchase price (maximum $25,000)
• If sold before 20 years: repay principal plus 5% of capital gains
• On the 20th anniversary, the loan is automatically forgiven if no default
• Voluntary early repayment allowed with no interest penalty

🏡 Eligible Property Types

• ✅ Detached homes
• ✅ Semi-detached homes
• ✅ Townhouses (condo and freehold)
• ✅ Stacked homes & row houses
• ✅ Condo apartments
• ✅ New builds AND resale homes

Home must be modest in size relative to community norms.

❌ You're NOT Eligible If:

• You or your spouse currently own any property (even a cottage or recreation property)
• The home costs more than $500,000
• You plan to rent out the home or any rooms
• Your income exceeds the limits above
• Your liquid assets exceed $100,000

💡 Good News:

Previously owned a home but currently renting? You still qualify!

For complete program details, visit the City of London Official Program Page

💰 The Math: Why This is Incredible

Let's say you're buying a $450,000 home in London:

That's right—the City of London could cover your ENTIRE minimum down payment.

📋 How to Apply (4 Simple Steps)

🤔 But What's the Catch?

We get it—this sounds too good to be true. Here's the fine print:

If You Stay 20 Years:

✅ The loan is 100% forgiven. You pay back nothing. Nada. Zero.

If You Sell Before 20 Years:

• Repay the original assistance amount
• Plus 5% of any profit you made on the home
• You can repay voluntarily anytime with no interest penalty

If You Sell at a Loss:

Repayment may be waived entirely (conditions apply).

Bottom line: This program rewards long-term homeownership. If you're planning to put down roots in London, this is essentially free money.

🚀 Stack This with Other Programs

Make this deal even sweeter by combining it with:

Frequently Asked Questions

Can I apply if I owned a home before?

YES! As long as you're currently renting in London or Middlesex County.

Why do I need to get pre-approved with you first?

The City of London requires proof of mortgage pre-approval as part of your application. We need to assess your income, debts, and credit to determine if you qualify. Once pre-approved, we handle the City paperwork for you.

How long does the process take?

Mortgage pre-approval typically takes 24-48 hours. Once we have that, City of London usually responds within 5 business days.

What if I don't qualify for a mortgage?

Don't worry—we have access to 50+ lenders including alternative options. Even if you don't qualify for the London program specifically, we'll work to find a solution that gets you into a home.

What if I want to pay it back early?

You can repay anytime with zero interest penalty.

🎯 Stop Making Your Landlord Rich

✅ Check Your Eligibility Now

Take 2 minutes to see if you can qualify for a mortgage and the $25,000 program:

What happens next?

1. We review your quiz answers within 24 hours
2. We'll reach out to discuss your mortgage options
3. Once pre-approved, we submit your City of London application
4. You get the keys to YOUR home 🔑

20 years from now, you'll either own a paid-off home worth $600,000+... or you'll still be paying rent to someone who does.

The choice is yours. London is making it easier than ever—and we're here to guide you through every step.

View London Mortgage Rates →

Program is a partnership between the Government of Canada, the Province of Ontario, and the City of London through the Ontario Priorities Housing Initiative. For official program details: City of London Official Page