First-Time Home Buyers Down Payment Assistance Program

As of January 16, 2017 applications for First Time Home Buyers are now being taken for the down payment assistance program recently announced by the B.C. Government.  This program gives down payment assistance to first-time home buyers by contributing to the amount they have saved for a mortgage down payment. Up to $37,500, or up to 5% of the purchase price, will be provided to qualifying first-time buyers through a 25-year mortgage loan that is interest-free and payment-free for the first five years.