Buying at Haven Villas Just Got Easier!
Are you a first time home buyer in BC? Purchasing your first home may be easier than you think thanks to a recent announcement from the BC government. Commencing January 16th, 2017, first time home buyers will be eligible to for a repayable down payment loan to assist with your down payment.
BC Home Owner Mortgage and Equity Partnership Program
“The BC Home Owner Mortgage and Equity Partnership program will contribute to the amount first time home buyers have already saved for their down payment, up to $37,000 or 5% of the purchase price with a 25 – year loan that is interest free for the first five years “
–Okanagan Mainline Real Estate Board
BC Government Announces Assistance for First Time Home Buyers, December 15, 2016
Have you been saving but purchasing your home still slightly out of reach? Well now you can apply for a loan to supplement your down payment as a first time home buyer.
- No interest or principal payments for the first five years (as long as the original home remains your primary residence)
- Loan will be paid out over 20 years, letting you also make additional payments too!
- If you end up selling the original home before the loan is paid off, repayment must be made in full or transferred to the next home owner
- Looking to get into your home sooner rather than later? If your closing date is after January 16th, 2017 you can apply for the program now
To simplify things, we have outlines the eligibility requirements and application checklist for your review. Find all the information here to get started.
Haven Villas could be your next home ready for summer 2017! Register now!