West Harbour Kelowna

Interest Free Down Payment Loans in BC

bc mortgage rules

The B.C. Government has just announced that it will offer down payment loans to first time home buyers to help with the purchase of homes up to $750,000. The 25 year loan will cover up to 5% of the purchase price for a maximum of $37,500, and is interest free and payment free for the first five years.

What does this mean for Kelowna Real Estate Buyers?

This makes home ownership a little easier for those who can afford their mortgage payments, but struggle to come up with the down payment. The maximum purchase price that qualifies for the loan is $750,000, and with homes starting at $550,000, West Harbour is a great place for you to start your search for your dream home. Contact us today to see the amazing lifestyle you can afford!

For more information and eligibility, read the CBC article here.

Photo courtesty of Adrian Wyld/Canadian Press.