The British Columbia Home Owner Mortgage and Equity partnership is a program offered by the

Executive Council of British Columbia The Executive Council of British Columbia (the Cabinet) is the Cabinet (government), Cabinet of the Provinces and territories of Canada, Canadian province of British Columbia. Almost always composed of members of the Legislative Assembly of Bri ...

to first-time

homebuyer Owner-occupancy or home-ownership is a form of housing tenure in which a person, called the owner-occupier, owner-occupant, or home owner, owns the home in which they live. The home can be a house, such as a single-family house, an apartment, c ...

s who have been either citizens or

permanent resident Permanent residency is a person's legal resident status in a country or territory of which such person is not a citizen but where they have the right to reside on a permanent basis. This is usually for a permanent period; a person with such l ...

s of

Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...

for the last five years and have been residents of

British Columbia British Columbia is the westernmost Provinces and territories of Canada, province of Canada. Situated in the Pacific Northwest between the Pacific Ocean and the Rocky Mountains, the province has a diverse geography, with rugged landscapes that ...

for at least a year before applying and have never owned a home. The province offers qualifying individuals an amount to match their

down payment In accounting, a down payment (also called a deposit in British English) is an initial up-front partial payment for the purchase of expensive goods or services such as a car or a house. It is usually paid in cash or equivalent at the time of fin ...

which is limited to 5% of the purchase price of a home not exceeding $750,000. Applications can be filed starting January 17, 2017.

External links

*https://web.archive.org/web/20161220104911/http://housingaction.gov.bc.ca/tile/home-owner-mortgage-and-equity-partnership Home Owner Mortgage and Equity Partnership Housing finance in Canada {{BritishColumbia-poli-stub