REGINA – The Saskatchewan Party announced Monday that, if elected, they will introduce a new program designed to help young people make a down payment on their first home.
Beginning May 1, 2016, Graduate Retention Program (GRP) recipients would be able to use up to $10,000 of their unused GRP benefits towards the down payment of a new home.
“One of the biggest changes we have seen in Saskatchewan over the past few years is that there are a lot more young people choosing to stay in Saskatchewan after they graduate compared to the huge numbers of young people who left Saskatchewan under the NDP,” Brad Wall said.
Full Coverage: Saskatchewan Election 2016
Wall said many young people in the province have told them that once they finish their education and start working, they can afford to make monthly mortgage payments on a new home but they have a hard time saving up enough money to make a down payment on a home.
“This will help with that down payment,” Wall said. “It’s the next step in making Saskatchewan a great place to start your career.”
The program will cost $900,000 in the first year, $1.8 million in the second year, $2.7 million in the third year and $3.6 million in the fourth year.
Comments