First Nations Market Housing Fund
Budget 2007 confirmed an investment of $300 million to create a First Nations Market Housing Fund (FNMHF) designed to give First Nations people living on-reserve a better chance to own their own home by providing a backstop for private sector loans. The Government of Canada expects that the Fund will assist with the generation of 25,000 housing units over ten years.
The Fund will not replace existing Government funding for these programs. Instead, the Fund will broaden the range of housing options available to individuals residing in First Nations communities, to enable First Nations members to have the same housing choices and opportunities as other Canadians.
The Fund is an innovative approach to ensuring that First Nation members on-reserve can have the opportunity to obtain loans from financial institutions and build, buy or renovate a house on reserve lands. This does not only increase the housing supply, but provides families and individuals on-reserve the means to build equity and generate wealth.
Please visit the First Nation Market Housing Fund website for more information.
- Date modified: