By Matt Fetinko

Upcoming federal program could attract homebuyers to Prince George

Jun 18, 2019 | 5:06 PM

PRINCE GEORGE — A new federal program set to help some homebuyers will start September 2. It will see the government pick up five percent of a mortgage on existing homes and new construction, up to ten percent.

It applies to first-time homebuyers, people who haven’t lived in a home owned by them or a spouse in the last four years, and people who’ve recently been divorced or dissolution of a commonlaw marriage. It works for up to four times a households annual income, up to $120,000.

It’s expected to benefit a market like Prince George greatly. Numerous new and existing properties around the city continue to have a For Sale sign in front, most with a price tag of $480,000 or less to fit the incentive’s qualification. The new program could encourage homebuyers living in larger markets to look at a community like Prince George.