Down Payment Assistance Program
Down Payment Assistance Program
The Down Payment Assistance Program (DPAP) assists Nova Scotians who pre-qualify for an insured mortgage to purchase their first home. Eligible participants can apply to receive a loan of up to five per cent of the purchase price of a home.
Loans provided under this program are interest-free, repayable over a 10-year period, and must be used for a down payment (cannot be used for financing, closing, or other costs). The maximum loan available is $25,000.
Eligibility
Funding is available to applicants that meet the following criteria:
- Must have a credit rating satisfactory to Municipal Affairs and Housing (DMAH) and be pre-approved for an insured mortgage by a recognized financial institution
- Be a first-time home buyer
- Total household income is less than $145,000
- Is a Canadian citizen or has permanent resident status
- Has resided in Nova Scotia for at least 12 months
- Does not have the financial ability to pay 5% of the purchase price of the property without assistance of the program.
- The applicant has reviewed the educational material for first-time home buyers provided by Municipal Affairs and Housing (see below)
Additionally, the property must:
- Be located in Nova Scotia
- Be the applicant’s principal residence - rental properties, seasonal, and recreational properties are not eligible
- Be permanently affixed to a property owned by the applicant in the case of mobile homes
- Have a purchase price that does not exceed the following:
- $500,000 in the Halifax Regional Municipality (HRM), and East Hants
- $300,000 in Northern and Eastern regions (Cumberland, Colchester, Pictou, Antigonish, Guysborough, Cape Breton, and including Yarmouth)
- $375,000 in Annapolis Valley, West Hants, and the South Shore
For more information, visit Down Payment Assistance Program
Testimonials
"
Excellent Realtor, very knowledgeable, personable, and professional. Would highly recommend for all your real estate needs!
"
- Santina
"
Very helpful, professional Realtor and handled the process smoothly even though I am away! Keep up the good job finding people their home! Thank-you!
"
- Andrew
"
Vanessa helped us find our first home and we had the best experience. She is a true professional and was available anytime we needed. Couldn't recommend her enough!
"
- Autumn & Mason
"
Very passionate and committed supporting you achieving your goal of becoming a home owner.
"
- Omolara
"
I can't say enough good things about Vanessa! It was our first time buying a home and was a stressful experience HOWEVER Vanessa hands down relieved a lot of that stress! She always made us feel like we were heard in our requests and found the best with what we could do with our budget! Vanessa is someone who works hard to find you your perfect home!!! Highly recommend!
"
- Sidney & Jared
"
Vanessa is an amazing realtor and she helped find my perfect home while out of province. She answered and explained all my questions. I found her very reliable and trustworthy. She made me feel very comfortable with my purchase. Thank-you and keep up the good work.
"
- Sahar
"
We appreciate what you have done for us, and we want to thank-you so much!
"
- Carla & Richard
"
I am sure you have already discovered she is a true professional. Always available to answer your questions and ready for whatever situation you throw her way. I personally love working with Vanessa and I am sure you will too.
"
- Tanya
Information should be deemed reliable but not guaranteed, all representations are approximate, and individual verification is recommended. Copyright ©2017 All rights reserved.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services