Federal Liberals’ plan to help first-time homebuyers to kick in weeks before election – Sicamous Eagle Valley News

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Federal Liberals’ plan to help first-time homebuyers to kick in weeks before election. Ottawa to pick up 5% of a mortgage on existing homes for households that earn under $120,000 a year. The Columbia Valley Pioneer Aberdeen Publishing Inc.

B.C.’s first-time home buyer loan program launches. Rich Coleman said that within six hours of the provincial loan program’s launch on Monday, 29 applications had been submitted. He said the province would be ready to approve eight of the applications by Tuesday for the loan that is interest- and payment-free for five years.

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The 10-year program assumes the provinces will be willing to match federal spending plans in some areas, meaning further negotiations will be needed before the details are worked out

Federal Liberals’ plan to help first-time homebuyers to kick in weeks before election. Ottawa to pick up 5% of a mortgage on existing homes for households that earn under $120,000 a year The canadian press;. port hardy and Haida Gwaii Most Read.

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Ontario will receive $4.2 billion more over the next 10 years for affordable housing under the first of several funding agreements the federal Liberals plan to sign by the end of the year. The provincial and federal governments say the money set aside under the Liberal government’s national housing strategy, as well as other already-promised [.]

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The federal election is set for October. There are no guarantees in politics but polls show the Liberals and leader Justin Trudeau are not setting the country’s voters on fire. "This will help.

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The Liberals would also look to current federal properties for possible sites of future affordable housing for areas in need. Outside of affordable housing, the Liberals have pledged to "modernize" the Home Buyers’ Plan by no longer limiting its availability to first-time buyers.