"HOME wreckers: B.C. cancels loan program for first-time homebuyers
...The province announced today that it will cancel HOME — formally the B.C. Home Owner Mortgage and Equity Partnership program — a government loan program that aimed to help first-time homebuyers get into the B.C. housing market.
HOME provides loans of up to $37,500 or five per cent of the home's purchase price (up to a maximum of $750,000) to first-time homebuyers for a downpayment. .
Loan program for 1st-time homebuyers has had few takers, little impact on market: report
In announcing the cancellation, the government said the program had failed to meet expectations.
When it was announced in late 2016, it was expected that 42,000 British Columbians would use the program over three years.
Just over one year in, the government says it only attracted 3,000 applicants..."
http://www.cbc.ca/news/canada/british-c ... -1.4565304