Down payment and mortgage assistance

Eligible full-time faculty members, librarians, program directors in UBC's continuing studies department and senior management staff members of UBC Vancouver may be eligible to apply for down payment assistance that assists in purchasing their principal home in Metro Vancouver.

The down payment assistance program was renewed and increased from $45,000 to $50,000 as of July 1, 2017.

The mortgage interest assistance program is discontinued for new applicants, but is still being administered to five-year completion for those who began the program between 2013 and 2016. See the section at the bottom of this page for details on mortgage assistance repayment triggers and processes. 

Down payment assistance program

Full time faculty members within 10 years of initial UBC appointment date may be eligible for either:

  • $45,000 in down payment assistance for those hired before July 1, 2017; or
  • $50,000 in down payment assistance for those full-time faculty hired on or after July 1, 2017.

The down payment assistance must be applied to the purchase of a primary residence within Metro Vancouver, on or off-campus.

Get important additional information and clarification on taxable benefits and home assistance.

Mortgage repayment and resale: second mortgage loans

A life event or change in circumstance related to UBC could trigger a required repayment of a second mortgage loan (through UBC's Faculty Home Ownership Program) within six months.

For details, see the restricted second Mortgage Loan Program description (pdf).

       

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