New program partners with first-time homebuyers as they enter the housing market
Channel: GovernmentofBC
Date: 15/12/2016

Saving for a mortgage down payment can be hard for first-time homebuyers. The BC Home Owner Mortgage and Equity Partnership program contributes to the amount first-time homebuyers have already saved for their down payment, providing up to $37,500, or up to 5% of the purchase price, with a 25-year loan that is interest-free and payment-free for the first five years. Through the BC HOME Partnership program, the Province is investing about $703 million over the next three years to help an estimated 42,000 B.C. households enter the market for the first time.

Learn more: https://news.gov.bc.ca/releases/2016PREM0153-002759