First-Time Home Buyers
- Begins January 16, 2017 for purchases that close on or after February 15, 2017
- Is set to run for 3 years, ending March 31, 2020
- Is available Province-wide
- Is for a legal, self-contained mortgageable residence in BC
- Provides eligible first-time buyers with loans which are*;
- Interest and payment free for up to 5 years
- Are for a maximum of 5% of the purchase price to a maximum of $37,500
- On a 25 year term and registered as a second mortgage on title
- For a principal residence ONLY
- Will mortgage lenders accept down payments which are loans?
- Will the lending institutions accept these 2nd mortgages being on title?
- How will changes in market affect the affordability of payments after 5 years?
Interested in finding out if this program is a fit for you? Call your RE/MAX REALTOR®, and ask them to give you names of some good Mortgage Professionals who can answer your questions.
Justus has been with RE/MAX of Nanaimo since January 2005 and is the Managing Broker. Justus was born and raised on Vancouver Island, so he and his lovely wife Kelly, decided in 2002 to raise their family on the Island and along with their daughter SaraLynn, are happily living in beautiful Nanaimo. When he’s not helping clients, Justus spends time with his family boating, he plays hockey, goes fishing, and plays in a band. Justus has learned a lot about the real estate industry in the last decade since aligning myself with the dedicated professionals at RE/MAX of Nanaimo. In 2014, he took his career to the next level by becoming the Managing Broker at RE/MAX of Nanaimo.