Montreal’s mayor announced on June 29 that the city will provide interest‑free rental loans to 150 low‑income households. Each eligible renter can receive up to $5,000 to cover rent, with repayment spread over five years and no interest charged.
The program is aimed at tenants who are experiencing financial difficulty and risk losing their homes. By offering a loan rather than a grant, the city intends to give immediate assistance while allowing borrowers to repay the amount over time without added cost.
Eligibility criteria focus on renters whose income falls below the city’s low‑income threshold. The city will manage applications through its housing department, which will verify income and rental status before approving a loan. Approved households will receive the funds directly to cover overdue rent or upcoming payments, helping them avoid eviction.
The initiative forms part of Montreal’s broader effort to address housing stability amid rising living costs. By limiting the program to 150 households, the city can target those most in need while monitoring the loan repayment process. Recipients will be required to adhere to a five‑year repayment schedule, after which the loan will be considered fully repaid.
City officials indicated that the interest‑free structure is designed to reduce the financial burden on renters and to keep more residents in their homes. The mayor emphasized that maintaining housing stability is a priority for the municipal government and that the loan program is a concrete step toward that goal.