BC HOME Partnership Program


The BC Home Owner Mortgage and Equity Partnership (BC HOME Partnership) assists British Columbia residents who are eligible first-time homebuyers by providing repayable down payment assistance loans.

The BC HOME Partnership Loan contributes to your personal down payment, up to a maximum of five per cent of the purchase price. You need to ensure that the amount of your personal down payment, plus the BC HOME Partnership loan, meet the minimum down payment requirement for an insured first mortgage loan

  1. Applicant must be a resident of BC for a minimum of 1 year
  2. Must be a Canadian Citizen or Permanent Resident for the last 5 years
  3. Household Income cannot exceed $150,000 / max purchase price is $750,000.
  4. All applicants must be FTHB ( including guarantors)
  5. BC Loan program will match the applicants own personal down payment to a maximum of $37500
  6. *The full loan amount needs to be factored in the application on the liabilities screen at the 5 year qualifying rate *
  7. The loan is granted over 25 years , however no payment is required for the first 5 years , monthly payments commence the 6th year at RBC’s Prime +1%
  8. The loan is registered as a second charge behind RBC’s 1st rank
  9. Refinance is not permitted when second charge has been registered , only switch ( dollar for dollar )
  10. Upon property being sold , loan must be paid back
  11. All 3 Mortgage Insurers are accepting this program CMHC/ Genworth/ and Canada Guaranty , increased premiums to apply
  12. All purchases must fund from Feb 15-2017 –March 31 2020 ( 3 year program)

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