Home Ownership Alternatives (HOA) is a non-profit financial corporation dedicated to the creation of affordable ownership housing following HOA’s Declaration of Trust. Working with our development partner, Options for Homes, HOA has a successful track record of financing 18 affordable housing developments, with another 6 currently in progress.

The HOA 2nd mortgage improves affordability for purchasers, as it requires no scheduled payments of principal or interest.  It is repayable only upon resale or when the unit is no longer occupied by the purchaser.  The purchaser also has the option to voluntarily repay the second mortgage at any time of their choosing while they live in the unit. Some purchasers choose to repay the second mortgage upon closing of the condo purchase.

HOA supports the development of environmentally and socially sustainable communities that provide the basis for low and moderate income households to create family equity and have positive social impacts.

HOA-supported developments are built according to local needs and requirements. All have been designed to reduce ongoing ownership costs to make them affordable to low and moderate income Canadians. Furthermore, the quality, scale and sustainability support the long term success of the buildings as part of their local community.