'Very grateful': How working professionals denied a traditional mortgage became homeowners in Toronto

Fifty-five families have become homeowners this year with the help of a program with Habitat for Humanity Greater Toronto Area.

One of them is Sahil Ajani, a mechanical engineer and his wife, Rozina Farista, a physiotherapist, along with their eight-month-old daughter. Three months ago, they moved into a nearly 900-square-foot two-bedroom home in Toronto's Stockyards neighbourhood.

Despite both being working professionals, they were turned down for a traditional mortgage. Like many across the region, turning the dream of homeownership into reality has been challenging.

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"We could save a little bit, but not too much, because half the money is going in rent and the money we saved for (a) down payment just sat there, but the housing prices went up it would've really mattered," said Ajani.

After years of living in small places around the GTA, worried about cramped conditions and rent taking up half of Ajani's salary until Rozina got her licence, they waited to start their family.

"Moving is always stressful, and every couple of years, we had to move, and when I got pregnant, the money was just [getting] eaten up," Farista said. 

While the program isn't new, Habitat for Humanity GTA launched a new campaign aiming to raise money for affordable housing solutions. 

For every 500 homes built, the non-profit organization says it needs about $50 million.

"We also work hard with governments, we do get support from (the) government, but that's where being a charity is so important. That's where we need the little bit extra to make more homes possible," said CEO Ene Underwood.

The program means families don't need a downpayment on a home and are provided with a mortgage based on their income.

When a family is ready to purchase a market-rate home, Habitat for Humanity buys the house back so another family can move in.

Fifty-five families in the GTA have purchased homes this year, and projects in Brampton, Oshawa, and Toronto are on the way.

"(I feel) immense satisfaction that we have a place and the future looks better for us because we have a daughter who can move around in her own place," said Farista.

Ajani echoed his wife's gratitude.

"When we got this, we were really excited, and the thing that makes us really happy is this is the place (my daughter) started crawling, and this is going to be the house where she is going to start walking, so this is going to be very special, and we are happy," Ajani said.

Their home cost $710,000 and the couple will pay about the same amount each month over their 25-year mortgage, as if they were paying rent.They said it's a big relief that gives them the space they need to grow.