B.C. HOME Partnership Program

In Dec 2016, the Provincial Government established a new loan program helping first-time home buyers by contributing to the amount they have already saved for a down payment with a loan that is interest-free and payment-free for the first five years.


Highlights of Home Partnership / Loan Program:


• The B.C. HOME Partnership Program will meet the buyer’s contribution up to 5% of the home’s purchase price, to a maximum purchase price of $750,000

• After five years, buyers can either repay their loan or enter into monthly payments at current interest rates.

• Loans through the program become due after 25 years – the same length as high ratio mortgages.

• The BC HOME partnership loan is for an initial 25 year term, which is interest and payment free for the first five years. 

• The loan will be registered on your property title as a second mortgage.


The B.C. HOME Partnership program will start accepting applications Jan. 16, 2017.



Eligibility Requirements:


To qualify for BC HOME Partnership loan, anyone who appears on the title of the home must meet the following criteria:

• Be a Canadian citizen or permanent resident for the last five years

• Have lived in British Columbia for at least the full 12 months preceding your application

• Be a first-time homebuyer who has not owned an interest in a principal residence anywhere in the world at any time and has never received a first-time homebuyers' exemption or refund

• Purchase a home that is $750,000 or less.

• Be eligible for a high-ratio insured first mortgage for the home


Other criteria are:

• The combined, gross household income of all individuals on the title must not exceed $150,000

• The home being purchased must be used as the principal residence of all individuals on the title for the five years after purchasing.


If you have any questions in regards to this program or any other mortgage related matters please don't hesitate to contact our in-house mortgage broker Sophiya Dewshi at 604-644-5761 or email at


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