First Time Home Buyer Program

This is a government insured loan program for first time home buyers. There are income and mortgage ceilings and purchase price limits. Low interest rates are fixed for the term of the loan and the down payment must be 3% or greater. In the event the residence is sold within the first ten years, there can be a prepayment penalty and equity sharing associated with this type loan. PMI (Private Mortgage Insurance) is required if the equity down payment is below 20%.

For more information on this program, visit the Government of British Columbia's web site or contact us directly for more details.