Vancouver is the most expensive city in North America. People have simply given up fulfilling their homeownership dream.
A developer in Vancouver has created a program that offers a helping hand to people with stable jobs and a good credit history. Sequel 138’s Affordable Homeownership (AHO) Model provides the downpayment support that many home purchasers do not have.
The equity for the purchase is being provided by Sequel 138. Sequel 138 will register a 2nd mortgage against the property to secure the loan which will be equal to 10% of the purchase price. There will be no interest and no payments required until such time as the home is sold or the 1st mortgage is renegotiated. CMHC* has approved this form of down payment for the Sequel 138 project.
*CMHC (Canada Mortgage and Housing Corporation), Canada’s national housing agency is a Crown corporation founded by the Government of Canada. This institution is Canada’s premier provider of mortgage loan insurance, mortgage-backed securities, housing policy and programs, and housing research.
Visit Sequel138.com for a comprehensive breakdown of the Down Payment Assistance Program and visit the info centre to secure a unit.
Contact Sequel 138:
#2097 – 88 West Pender
Vancouver, BC, Canada
Mon-Thur: 12-7 pm
Friday: By appointment
Sat-Sun: 12-5 pm