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Saskatchewan gives out $2M to help grads buy homes

Advanced Education Minister Scott Moe says interest-free loans are all about keeping people here in Saskatchewan. Christa Dao / Global News

More than $2 million has been approved under Saskatchewan’s plan to help new graduates buy their first home.

Payments of $450,000 have been given out so far for 49 interest-free loans for a down payment for recent post-secondary graduates.

The government has approved a total of 230 applications.

Advanced Education Minister Scott Moe says it’s all about keeping people here in Saskatchewan.

Graduates are eligible for up to $10,000 under their unused graduate retention program tax credits for a down payment.

Kaleigh Maguire of Regina recently bought a home under the program and says it was very beneficial.

“It was a saviour. With the rental market being so high as it is, we were pretty much paying a mortgage payment, it was just to come up with the down payment.

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“We heard about this program so we our application in right away and I’m standing here now a homeowner.”

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