Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - B.C. Government to offer downpayment loans for first-time home-buyers

rubecube · 12-15-2016, 11:03 PM

I also think the idea that "Well we'll only match what they've already saved up, so then there's no risk" is completely ridiculous. The interest free period is 5 years, so if it took you 10 years to save your first $20k, I'm supposed to be confident you can pay off the next $20k in five? Plus, any idiot can inherit or come into $20k by accident. It doesn't prove they have the capabilities to save that money.

12-15-2016, 11:03 PM	#48
rubecube Franchise Player Join Date: Mar 2006 Location: Victoria Exp:	I also think the idea that "Well we'll only match what they've already saved up, so then there's no risk" is completely ridiculous. The interest free period is 5 years, so if it took you 10 years to save your first $20k, I'm supposed to be confident you can pay off the next $20k in five? Plus, any idiot can inherit or come into $20k by accident. It doesn't prove they have the capabilities to save that money.