Yukon’s government is launching a first-time homebuyer program in the territory that will see eligible residents receive low-interest loans to help with down payments.
The territory says the Yukoner First Home Program will give eligible homebuyers loans that would cover up to half of their down payments on a purchase, and repaying the loan can be deferred until the buyers’ mortgage has been refinanced or paid off.
Premier Ranj Pillai says in a statement that the program is meant to cover a gap between a first-time homebuyer’s savings and the barrier created by a high down-payment amount, especially when buyers may also be paying rent on their current home….