Apply for housing down payment support

The Yukoner First Home Program helps eligible Yukoners with the down payment on their first home. Through this program, you can apply for a low-interest loan that covers up to 5 per cent of the home’s purchase price.

You may qualify for a low-interest loan if you:

• have a pre-approved mortgage;
• have at least 50 per cent of the required minimum down payment and all closing costs; and
• are buying a home in the Yukon.

How does it work?

• Interest is fixed at 2.5 per cent, compounded yearly.
• No payment needs to be made during the amortization period of the mortgage (25 years, for example)
• You can pay off the loan early at any time with no penalty.
• You must repay the loan when:
  • you refinance the mortgage;
  • the mortgage is paid off;
  • you sell the home; or
  • the home is no longer your primary residence.

Applications are accepted year-round or until the funding is fully subscribed. Preference may be given to applications from recent graduates of an accredited post-secondary program (university, college, trade school, or other).

Eligible properties

The program can help you buy a new or existing home in the Yukon if it:

• is priced at or below the average sale price for that type of dwelling in Whitehorse, based on the 4 most recent quarterly Real Estate Reports from the Yukon Bureau of Statistics;
• is your principal residence for the life of the mortgage; if it’s not, you must repay the full loan amount with accrued interest right away;
• is fully insured for its replacement value;
• is for residential use only; commercial or mixed-use properties are not eligible, although we may approve 1 residential rental suite if you live there full-time;
• meets local bylaws and building standards, including Area Development Regulations and the Building Standards Act; and
• is intended for full-time living; seasonal cottages and travel trailers are not eligible.

If the building is on leased land and has a land lease agreement, the lease must last at least 10 years past the loan’s amortization period.

Who can apply

You must: 

• be a Canadian citizen or permanent resident;
• be a Yukon resident for at least 90 days;
• apply as an individual or family. Businesses, corporations, societies, associations and co-operatives are not eligible;
• be a first-time home buyer:
  • as someone who has never acquired ownership of a dwelling by way of purchase, inheritance or gift; or
  • as someone who has once previously co-owned a home with a former spouse or partner. This includes someone who has only owned a home with a former spouse or partner and no longer owns any property;
• not own property anywhere else in the world;
• have a mortgage pre-approval from a recognized financial institution and able to provide proof to the satisfaction of Yukon Housing Corporation;
• be the person(s) named on the title or lease of the property being purchased;
• have enough money for all closing costs and at least half of the required minimum down payment;
• submit to asset verification and meet financial eligibility requirements;
• be in good standing with the Government of Yukon; and
• show a financial need for assistance. Applicants with sufficient funds to cover the minimum required down payment without assistance from the program are not eligible.

How to apply

1. Fill out the application form. Ensure your financial institution has completed the “Mortgage pre-approval” section.
2. Attach the required documents, which may include:
   • mortgage pre-approval;
   • a bank request of minimum down payment amount;
   • bank or investment statements;
   • a gift letter;
   • proof of down payment; and
   • a bank application.
3. Submit your completed application form to Yukon Housing Corporation:
   • In person: Drop your application off at your local Yukon Housing Corporation office
   • Email: [email protected]
   • Mail:
     Government of Yukon
     Yukon Housing Corporation
     Box 2703 (Y-1)
     Whitehorse, Yukon 
     Y1A 2C6