The new BC housing program to help first time home buyer with a down payment is now accepting applications.

Housing Minister Rich Coleman says the goal of the program is to help those buyers who are in good financial shape, but may need a little more cash for a down payment.

Coleman notes that the program is similar to one that existed in the 1970s which helped many first-time home buyers get into the market.

He says a secondary goal is to increase rental as those new home owners move from rental housing into home ownership.