Down Payments For First Time Home Buyers Under the BC Home Owner Mortgage and Equity Partnership Program, the BC government will match the down payment funds of eligible first time buyers for up to five per cent of the purchase price, up to a maximum of $37,500, which will be registered as a second mortgage for a term of up to 25 years.
Buyers won’t need to have a full 20% deposit and will save around $10,000 by not having to pay lenders mortgage insurance. The scheme is limited to 10,000 first homebuyers, roughly one-in-10 of the.
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“The housing market continued to underperform its potential in April 2019, but the performance gap shrank compared with March,” First american chief economist mark fleming said. “Actual existing-home.