Established in 1994 Home Ownership Alternatives (HOA) is a non-profit financial corporation dedicated to making ownership housing affordable.


We support the development of socially sustainable communities that provide the basis for moderate income households to create family equity and have positive social impacts. We also support developments that are built according to local needs and requirements. All developments have been designed to reduce ongoing ownership costs to make them more affordable to moderate income Canadians.

HOA makes housing affordable  in several ways:

  1. Providing capital to assist with land acquisition and pre-construction costs;
  2. Providing equity and guarantees to support construction financing;
  3. Providing assistance to purchasers/home owners by way of Shared-Appreciation 2nd Mortgages and providing extra support when required through the June Callwood Fund; and
  4. Advocating for housing policy and programs with the appropriate levels of government (primarily municipal and provincial).

The uniqueness of the approach is not found in any one component but rather in the integration of many components into one seamless plan that supports the entire development from the initial investigation of possible sites through land acquisition, development, construction, sales and ultimately the long term mortgage support for the home owner, and at the same time creates a permanent fund enabling growth and self-sustaining investment in more affordable housing.
Our HOA 2nd Mortgage improves affordability for purchasers, because it does not require payments of principal or interest. Our mortgage is only repayable upon sale or when the unit is no longer the principal residence of the homeowner. The homeowner also has the option of voluntarily repaying the second mortgage at any time without penalty while they live in the unit. Working collaboratively with Options for Homes, and utilizing financial partnerships with local governments, financial institutions, community organizations and others who share our vision,  
over 4,000 individuals and families now call themselves homeowners. 


For Board members and Clients


Make online partial payments to your HOA 2nd Mortgage.


Calculate payments on your 2nd Mortgage. For clients only.