Go ahead and
buy that home
you've always wanted.

To buy a “new” home:
$5,000 Second Mortgage Loan or
$1,000 Home Acquisition Grant

A Second Mortgage Loan to a maximum of $5,000 or an out-

“tight Home Acquisition Grant of up to $1,000 is available for

persons buying a new home.

To qualify for the Loan or Grant, you must be the first occu-
pant of the home and must have lived in British Columbia for
12 months immediately preceding the date of purchase or
completion of construction.

The Loan can equal but cannot exceed the difference between
the cost of the property and the first mortgage. This Loan or
Grant can serve as part of your down payment.

Previous Annual British Columbia Government Home-owner
Grants received will be deducted from the $1,000 Grant, but
not if you choose a Second Mortgage Loan.

To buy an “older” home:

$2,500 Second Mortgage Loan or
$500 Home Acquisition Grant

A Second Mortgage Loan to a maximum of $2,500 or an out-
right Home Acquisition Grant of up to $500 is available for
persons buying an older home.

To qualify for the Loan or Grant, you must have been a tenant .

occupying rented accommodation continuously in British
Columbia for not less than 2 years immediately preceding the
date of purchase. —

Previous Annual British Columbia Government Home-owner
Grants received will be deducted from the $500 Grant, but not
if you choose a Second Mortgage Loan.

Br

-DEPARTMENT OF FINANCE =
HON. W. A. C, BENNETT, P.C., Premier and Minister of Finance

Interest lower than on Federal N.H.A.

first mortgages

lf payments are made promptly there will be an annual refund
of up to 10%, reducing the effective interest rate on a 25-year
Second Mortgage Loan to 7%2%. For example, the monthly
payment on a $5,000, 25-year Second Mortgage Loan is $41.00
but the 10% refund would in effect reduce this to $36.90. On a
$2,500, 25-year loan the monthly payment is $21.00 and the
effect of the 10% refund would reduce it to $18.90.

Most Mortgages Fully Insured —

- without extra charge

Where applicable, if the borrower who is the principal support
of the family dies, the Government of British Columbia will
forgive the remaining debt. There is no charge for this in-
surance — nor are there any application, legal or registration
fees or charges.

Annual Home-owner Grants

reduce your property taxes

Once you have purchased your new or older home you become
eligible for the Home-owner Grant of up to $170 annually — an
important factor in helping to reduce the amount of your
property taxes:

EE

FOR FURTHER INFORMATION MAIL THIS COUPON ~

Provincial Administrator, Home-owner Assistance,
Department of Finance, Parliament Buildings,
Victoria, British Columbia

Please send me full information with regard to the
Second Mortgage and Acquisition Grant on:

2 NEW HOME = >. OEDERSHOME

Address. 3. =

THE GOVERNMENT OF THE PROVINCE OF BRITISH COLUMBIA

G. S. BRYSON, Deputy Minister of Finance

LE SOLEIL, 5 NO

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1971, XV