New Year, New Home, New YOU
Jan 11, 2017
Is FINALLY getting into the Real Estate Market one of your resolutions for 2017? We’ve got good news! From first time home buyers to investors, The Stockwell Property Specialists are here to help you find the perfect home!
Are you Buying for the First Time?
You’re in luck, first time home ownership just got easier! The BC Government has just recently made it easier to break into the market with the introduction of The BC Home Owner Mortgage and Equity Partnership Program. This new initiative helps first time home buyers cover the cost of a mortgage down payment with an interest free loan!
Who is Eligible?
- Canadian citizens or permanent residents of at least 5 years who have resided in BC for at least one year
- First time home buyers
- You plan to purchase a home for $750,000 or less
- You have at least half of the minimum down payment required to purchase your home
- Your total household income is $150,000 or less
- Your new home will be your primary residence
How to Apply
- Get pre-approved for a mortgage from an approved lender
- Apply and receive confirmation of eligibility for the BC HOME Partnership Program
- Find your home and make an offer subject to financing
- Take your BC Home loan commitment to your financial institution
- Get final approval for an insured mortgage from your lender
- Purchase your new home and move in
How It Works
- The Government will provide a maximum of $37,500 — or up to five per cent of the purchase price — with a 25-year loan that is interest-free and payment-free for the first five years.
- After five years home buyers begin making monthly payments at current interest rates.
We’ve got a great selection of units at The Stockwell that would be perfect for first time buyers.
However, inventory in Kelowna is at an all-time low and units are selling quickly due to high demand! Additionally, only a limited number of storage lockers and additional parking stalls remain for purchase. If you are serious about owning at The Stockwell – the time to act is now!
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CONTACT US for details.