Home Ownership Alternatives Non-Profit Corporation (“HOA”) is a non-profit financial corporation dedicated to making home ownership possible for low and moderate income families.
The uniqueness of the Home Ownership Alternatives approach is not found in any one component but rather in the integration of many components into one seamless financial plan that:
- supports development through a financing continuum from the initial investigation of possible sites through land acquisition, development, construction and ultimately the long term mortgage support for the home owner, and
- creates a permanent long term fund enabling growth and ultimately self-financing reinvestment in affordable housing.
HOA supports the development of environmentally and socially sustainable communities that provide the basis for low and moderate income households to create family equity and have positive social impacts.
HOA supported developments are built according to local needs and requirements. All have been designed to reduce ownership costs to make them affordable to low and moderate income Canadians. Furthermore, the quality, scale and sustainability support the long term success of the buildings as part of their local community.
HOA believes strongly that home ownership is one of the most effective ways for families to build equity and escape the cycle of poverty. Therefore HOA does not subscribe to the theory held by some that just because homeowners need some assistance to purchase their first home that their future gains should be confiscated through mandatory right of first refusal clauses or similar schemes.
About HOA