Quick Snapshot of BC HOME Loan Program

BC HOME Loan Program

  • Maximum down payment is less than 20%
    • Has to be a high ratio insured mortgage
  • Maximum matching amount $37,500
  • Application takes 5 business days to complete
  • When you have an accepted offer it takes 1 day to approve the property for the loan
  • Allow minimum 14 calendar days from subject removal to completion for processing and funding
  • Earliest completion date is February 15th, 2017 - no exceptions
  • Last day of the program is March 31, 2020 - no exceptions
  • Client must have lived in BC for the past 12 months
  • Client must be a permanent resident of Canadian Citizen for 5 years or more
  • If the client refinances the loan must be paid out
  • Client has to live in the property for a minimum of 5 years
    • loan will be called if they move our sooner
  • Guarantors ok
  • Gifted downpayment ok

For more information, please contact me at 604.739.1129