Frank Fu Blog

BC HOME Partnership Program

(February 01, 2017, posted in Government Policy)

Source:BC Housing


ABOUT THE PROGRAM

The BC Home Owner Mortgage and Equity Partnership (BC HOME Partnership) assists British Columbia residents who are eligible first-time homebuyers by providing repayable down payment assistance loans.

The BC HOME Partnership Loan contributes to your personal down payment, up to a maximum of five per cent of the purchase price. You need to ensure that the amount of y... read more.

Canadian Housing Market Gets Shaken Up and Patted Down

(November 17, 2016, posted in Government Policy)

The home-buying landscape – especially when it comes to mortgage qualification and rates – seems to be changing constantly these days. Mortgage expert Atrina Kouroshnia makes sense of it all


Until (very) recently, Canadians were getting the short end of the stick – at least when it came to income qualifying, compared with foreign buyers. Unlike Canadians, those from outside of Canada could essentia... read more.

New BC Property Transfer Tax 

(February 21, 2016, posted in Government Policy)

The Property Transfer Tax (PTT) is a provincial tax now charged at a rate of:

  • 1% on the first $200,000,
  • 2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000, and
  • 3% on the portion of the fair market value greater than $2,000,000.
Exemptions·         

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