Apply for a mortgage to buy your first home

The First Mortgage Program is for Yukon residents who have not previously owned a home and are unable to get a mortgage from a bank. The mortgages are available Yukon-wide on fee simple land.

Eligibility

  • You are a first-time home buyer and the house already exists.
  • Proof that you aren't eligible to get a loan from a bank.
  • You must fall within our debt-to-loan ratios.
  • The home must be used as your primary residence.
  • You will need a 2.5% down payment.
  • The home you'd like to buy must meet our modest design guidelines.

Apply for a first time homeowner mortgage loan

  1. Complete the First Mortgage Loan application. The funding for the First Mortgage Program is fully spent, with a large number of applicants on the waiting list for any additional funding that may become available. You can still submit an application, but it unlikely that we will be able to approve you for a loan because we process applications on a first come, first served basis.
  2. Complete the Verification of Employment form.
  3. Submit your forms and supporting documents.
    In person: 410 Jarvis Street, Whitehorse, Yukon. Our hours are Monday to Friday from 8:30 a.m. to 4:30 p.m.
    Email: ykhouse@gov.yk.ca

Loan financing details

  • Amortize up to 30 years in 5 year terms.
  • Low interest rate at or below 1% the average posted rates. This is the posted 5-year average interest rate at major banks.
  • Opportunities to combine with the Home Repair and Rental and Secondary Suite programs.
Contact: 

For questions about applying for a mortgage to buy your first home email ykhouse@gov.yk.ca or phone: 867-667-5759 or toll free in Yukon: 1-800-661-0408, ext. 5759.