Brad Wall plans to help young people make a down payment on first home in Saskatchewan
Brad Wall and the Saskatchewan Party say they will make it easier for younger, first-time home buyers in the province.
At a media scrum in Saskatoon, Wall introduced the First Home Plan. beginning May 1, 2016.
He says the “Graduate Retention Program” recipients will be able to use up to 10-thousan dollars of their unused G-R-P benefits toward the down-payment on the purchase of a first home.
Wall says many young people have told him once they finish their education and start working, they could afford to make monthly mortgage payments on a new home but they have a hard time saving up enough money to make the initial down payment.
The Sask. Party leader says the program will cost 900-thousand dollars in the first year and 1.8-million dollars in the second year.