Fully Forgivable Loan For Renovations

CMHC's RRAP - The Residential Rehabilitation Assistance Program — is to assist in the creation of affordable housing for low-income seniors and adults with a disability by providing financial assistance to convert/develop existing residential properties that can reasonably accommodate a secondary self-contained unit.

Eligibility is limited to existing family housing residential properties where self-contained secondary or garden suite is being created. The property must meet the requirements of the authority having jurisdiction including zoning and building requirements.

The assistance is in the form of a fully forgivable loan which does not have to be repaid provided the owner adheres to the conditions of the program. The maximum loan available varies from $24000 to $34000 in accordance to the geographic zone in which the property is located. Abbotsford properties will qualify for upto $24000 forgiveable loan.

Work carried out before the RRAP loan is approved is not eligible.

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