Home Owner Mortgage and Equity Partnership program — a government loan program that aimed to help first-time homebuyers get into the B.C. HOME provides loans of up to $37,500 or five per cent of the home's purchase price (up to a maximum of $750,000) to first-time homebuyers for a downpayment. Program not an NDP favouriteThe program was a creation of the previous Liberal provincial government and was never a darling of the now-ruling NDP. The government says funding for the program will be redirected to HousingHub, a new program within B.C. Housing, to create "new partnerships to build affordable housing, while also developing innovative models to allow prospective homeowners to purchase homes and build equity."

Source: CBC News March 07, 2018 03:45 UTC