(January 10, 2017
Starting in January 2017, BC is partnering with first-time home buyers. With the new BC HOME Partnership program, you could be eligible for a down payment loan of up to 5% of the purchase price of a home.
The B.C. Home Owner Mortgage and Equity Partnership program contributes to the amount first-time home buyers 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.
To be eligible, buyers must be pre-approved for an insured high-ratio first mortgage (mortgage down payment is less than 20% of the home price). On completion of the sale, program funds will be advanced and the loan will be registered as a second mortgage on the property’s title.
If you are a first-time home buyer, start your pre-approval today before the official program start date of January 16, 2017. We work with leading industry mortgage professionals and can get you connected today! Contact Sonia at 604-725-7605 or SOLD@SONIADHALIWAL.COM