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Homebuyer Loans

/ 97.3 The Eagle

The province’s new loan program to help first-time homebuyers afford a down payment has approved over 250 applicants. The province says more than 1.1-million-dollars in loans have been conditionally approved since applications opened on January 16th. The loan helps first-time buyers afford a downpayment by matching their savings to a maximum of 37-thousand five-hundred dollars, and is interest- and payment-free for the first five years. The province has earmarked 700-million dollars toward the program over the next three years and expects about 42-thousand people to take advantage of the loan.

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