The new BC Home Owner Mortgage and Equity Partnership Program (BC HOME Partnership) gives qualified first time home buyers a loan from the BC government to help with the down payment on a house. It’s a matching program, so you have to save up some money yourself and the government will match the amount, up to a max of 5% of the purchase price. The loan will be interest free for the first five years and you’re encouraged to pay it off as quickly as possible. To qualify, you must have strong income and credit – enough income to more than qualify for the primary mortgage and any other debts you have. But if you do have strong income and it’s just the down payment standing between you and buying the house you want, this could be the help you need. To find out more about the BC HOME Partnership and whether it’s right for you, please give us a call today and book your no obligation mortgage consultation.
Mackenzie Gartside is the Lead Consultant at Mackenzie Gartside & Associates – Select Mortgage. Find today’s rates online at www.comoxmortgages.com or call 250.331.0800 to discover your best mortgage options.