Business
Hear At Last guiding clients towards Federal loan programs and other Government Incentives
From the Government of Canada 2024 Fall Economic Statement: Making it easier for homeowners to build secondary suiteshttps://www.canada.ca/en/department-finance/news/2024/12/2024-fall-economic-statement-making-it-easier-for-homeowners-to-build-secondary-suites.html Department of Finance CanadaToronto, Ontario--(Newsfile Corp. - March 10, 2025) - In recent months, Hear At Last Holdings (OTC Pink: HRAL) has been following the changes at the Federal, Provincial and Municipal levels, all working wit
About this update from Hear Atlast Holdings, Inc.
[{"type":"text","content":"From the Government of Canada 2024 Fall Economic Statement: Making it easier for homeowners to build secondary suiteshttps://www.canada.ca/en/department-finance/news/2024/12/2024-fall-economic-statement-making-it-easier-for-homeowners-to-build-secondary-suites.html Department of Finance Canada","length":295,"tagName":"p"},{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - March 10, 2025) - In recent months, Hear At Last Holdings (OTC Pink: HRAL) has been following the changes at the Federal, Provincial and Municipal levels, all working with their own separate programs, but all with the same goal - to facilitate the construction of garden suites and secondary suites in Canada, offering attractive and alternative financing options for homeowners.","length":415,"tagName":"p"},{"type":"text","content":"Here are some notable developments:","length":35,"tagName":"p"},{"type":"text","content":"Canadian Banks","length":14,"tagName":"p"},{"type":"text","content":"In August 2024, some of the Canadian banks started to offer Laneway House Mortgages, a construction loan designed to help Canadian homeowners finance the building of laneway homes or garden suites on their properties. This product allows homeowners to expand their living space or generate additional rental income, contributing to increased housing density in urban areas. Initially available in the Greater Toronto Area, Greater Vancouver Area, and Calgary, the mortgage offers a solution for homeowners seeking to adapt their properties to evolving housing needs.","length":566,"tagName":"p"},{"type":"text","content":"Federal Government's Secondary Suite Loan Program","length":53,"tagName":"p"},{"type":"text","content":"In December 2024, the Federal Government announced plans to support homeowners in adding secondary suites by doubling the loan limit for the Canada Secondary Suite Loan Program from $40,000 to $80,000. This initiative aims to make it easier for homeowners to convert unused spaces, such as basements or garages, into rental units. The program offers financing with 15-year loan terms at a rate of 2%.","length":400,"tagName":"p"},{"type":"text","content":"Simcoe County's Secondary Suites Program","length":44,"tagName":"p"},{"type":"text","content":"Simcoe County offers the Secondary Suites Program, providing funding of up to $30,000 per unit for the cr...