Q: How does the HOA 2nd Mortgage work?

A: HOA provides down payment assistance in the form of 2nd mortgages. No scheduled payments of principal or interest are required until the home is resold or rented out, or if the homeowner voluntarily decides repay the 2nd Mortgage.


Q: What is the average value of a 2nd Mortgage?

A: HOA 2nd mortgages are typically 10 to 15 per cent of the purchase price.


Q: What happens to the funds that are repaid to HOA?

A: When HOA 2nd mortgages are paid back, HOA uses the proceeds to create more affordable homes for new purchasers.


Q: How do government partnerships help the HOA model?

A: Through partnerships with different governments, the HOA 2nd Mortgage allows for deeper household affordability levels by providing additional funds to households that qualify.