The Nunavut Housing Corp. has introduced the Nunavut Homeownership Assistance Program (NHAP), aiming to boost homeownership among Nunavummiut. The NHAP offers a 10-year forgivable loan of $250,000 for eligible new homeowners to purchase building materials, along with modest home designs and project management support. The initiative also includes homeowner education to ensure participants understand their financial and maintenance responsibilities.
The NHAP is a modernized version of a previous program from the 1980s and 1990s that facilitated homeownership through government-provided materials and self-construction. The new program is part of the larger Nunavut 3000 plan, which aims to build 3,000 new housing units by 2030 to address the territory’s housing shortage.
To qualify for NHAP, applicants must be 19 or older, have lived in Nunavut for the past year, and be willing to contribute labor to their home’s construction. They must also secure bank financing and have not received prior assistance from the housing corporation in the past decade. Applications are open until October 18, 2024, and must be submitted through the Nunavut Housing Corp.’s website.
The NHAP supports Nunavut 3000’s goal of constructing 900 affordable housing units by 2030, contributing to the broader effort of building a total of 3,000 new units in response to ongoing housing needs in the territory.
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