PC
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Create a First Time Home Owners Program with credit unions to decrease down payments to 2%
"A re-elected PC Government will enter into a new agreement with participating credit unions to expand this program to first-time home buyers purchasing a home up to $500,000 in value. Whereas today these prospective homebuyers must provide a 5% down payment, they would only have to pay a 2% down payment under the PC Plan. Participating credit unions would assess the applicants to ensure their income is satisfactory to support the mortgage they want, and the provincial government would provide a loan guarantee to participating credit unions for any deficiencies in the event of a default." — pcpartyns.ca, retrieved 2024-11-10