12:39 PM

Province phasing out BC HOME Partnership program

VICTORIA – The BC Home Owner Mortgage and Equity Partnership program will come to an end on March 31, 2018 due to its low participation rate.

Applications received by March 31, 2018 will be considered for approval and current program recipients will not be affected.

When the program was first introduced, it was anticipated it would provide 42,000 loans over a three-year period, however, as of January 31, 2018, there were fewer than 3,000 loans approved.

The Province is creating a new HousingHub within BC Housing, funded in part by winding down the BC HOME program.

The HousingHub will actively seek out and facilitate new partnerships to build affordable housing, while also developing innovative models to allow prospective homeowners to purchase homes and build equity.

Learn More:

Read Homes for B.C., government’s 30-point plan to address housing affordability for British Columbians: bcbudget.gov.bc.ca/2018/homesbc/2018_Homes_For_BC.pdf

BC HOME Partnership: https://www.bchousing.org/housing-assistance/bc-home-partnership

HousingHub: https://www.bchousing.org/partner-services/housinghub

Media Contacts:

Lindsay Byers
Ministry of Municipal Affairs and Housing
250 952-0617

Rajvir Rao
BC Housing
604 456-8917