Home Ownership Alternatives (HOA) is a non-profit financial corporation dedicated to making home ownership affordable by working with non-profit developers who include an affordable ownership component. HOA has a successful track record of financing over 20 housing developments with more in the pipeline.



HOA is dedicated to assisting individuals and families to purchase a new home through a Shared Appreciation 2nd Mortgage. A Shared Appreciation Mortgage improves affordability and is different from a conventional mortgage in three ways:

  1. It requires no scheduled repayments of principal or interest.
  2. It does not bear a specific rate of interest.
  3. Is repayable upon resale, when the unit is no longer occupied by the purchaser, or when the homeowner chooses to voluntarily repay it.

A Shared Appreciation Mortgage earns interest at a rate equal to the increase in the value of the home. For example, if a home with a Shared Appreciation mortgage has gone up 10% in value, then the mortgage would be discharged with the payment of the mortgage principal amount plus 10% interest. If the home decreases in value, then only the mortgage principal is repayable & interest is not charged.

Criteria for Obtaining an HOA 2nd Mortgage:

To be eligible for an HOA 2nd mortgage purchasers must:

  • Purchase a unit in HOA financed developments.
  • Be at least 18 years old,
  • Be legal permanent residents of Canada
  • Occupy the the new home as the principal residence (HOA does not provide mortgages for investor-purchasers).
  • Not already own or have an ownership interest in another home.

HOA will assess each purchaser’s individual credit profile and mortgage carrying capacity. Purchasers may also need to satisfy additional qualification criteria in order to receive funding from our partners.


In partnership with licensed mortgage brokerage, MSI (Mortgage Services Inc., license #12009), HOA is a FSCO-licensed Mortgage Administrator (license #12600). HOA is responsible for administering all of MSI’s mortgage affairs.



For Board members and Clients


Make online partial payments to your HOA 2nd Mortgage.


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