First Time Home Buyers
Premier Christy Clark this morning announced a new program designed to support first time homebuyers.
Meeting the press today, Clark referred to the difficulty first time home buyers experience saving up a down payment. While many first time home buyers qualify for a mortgage, they can't assemble funds required for their initial down payment.
Interest & Payment Free for first 5 Years
The BC Home Owner Mortgage and c 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.
During the first five years, no monthly interest or principal payments are