Yukon launches first-time homebuyer loan program to pay up to half of down payments

Yukon’s government is launching a first-time homebuyer program in the territory that will see eligible residents receive low-interest loans to help with down payments.The territory says the Yukoner First Home Program will give eligible homebuyers loans that would cover up to half of their down payments on a purchase, and repaying the loan can be deferred until the buyers’ mortgage has been refinanced or paid off.Premier Ranj Pillai says in a statement that the program is meant to cover a gap between a first-time homebuyer’s savings and the barrier created by a high down-payment amount, especially when buyers may also be paying rent on their current home.