Apply for a loan to help with a down payment on your first home: Down Payment Assistance Program
The Down Payment Assistance Program helps Nova Scotians who pre-qualify for an insured mortgage to buy their first home. You can apply to the Down Payment Assistance Program for a loan of 5% of the purchase price of a home to help with the down payment. You can apply anytime.
Use the Down Payment Assistance Program (DPAP) Form to apply for a loan from the Down Payment Assistance Program.
The Down Payment Assistance Program is administered by the Government of Nova Scotia (it's not part of First-time Homebuyers Program). The First-time Homebuyers Program is administered by participating credit unions. Contact a participating credit union for more information about the First-time Homebuyers Program.
You can get a loan of 5% of the purchase price of a home. The loan is interest-free and repayable over a 10-year period. You must use the loan for a down payment (you can’t use the loan for financing, closing or other costs).
Eligibility
You can apply for the loan if you:
- are pre-approved for an insured mortgage by an approved lender
- have a total household income of less than $145,000
All individuals listed on the deed must:
- have a credit rating of 650 or more
- are a first-time home buyer
- be a Canadian citizen or have permanent resident status and live full-time in Nova Scotia
- not have the financial ability to pay 5% of the purchase price of the property without help from the Down Payment Assistance Program
- be able to pay for closing costs (like legal fees and taxes)
The property you want to buy must:
- be in Nova Scotia
- be your primary residence when you move in (rental properties, seasonal and recreational properties are not eligible)
- be permanently attached to a property you own if you’re buying a manufactured (mobile) home
The property must also have a purchase price that isn’t more than:
- $570,000 in Halifax Regional Municipality and the Municipality of East Hants
- $375,000 in the Municipality of West Hants, Annapolis Valley (Kings, Annapolis and Digby Counties) and the South Shore (Shelburne, Queens and Lunenburg Counties)
- $300,000 in Yarmouth County and Northern and Eastern regions (Cumberland, Colchester, Pictou, Antigonish, Guysborough and Cape Breton Counties)
Property that has a purchase price that's more than $500,000 requires a 5% down payment on the first $500,000 plus 10% on the remaining balance. You need to have the financial ability to pay a 5% down payment on the remaining balance if the property that you purchase is more than $500,000.
Review detailed eligibility and program criteria in the Down Payment Assistance Program Guide.
You need to apply at least 3 weeks before the financing deadline on your Agreement of Purchase and Sale.
How to apply
- Review the Down Payment Assistance Program Guide.
- Complete the application form.
- Check the application for details on all required supporting documents.
- Send your completed application and supporting documents by mail. Or visit a regional housing office (if the property is in Halifax Regional Municipality or Hants County, you need to contact the regional housing office to book an appointment before visiting).
How long it takes
It should take 3 weeks to get the loan approval. It can take longer if more information is needed or if your application hasn’t been filled in correctly.
Cost
There is no cost to apply for the loan.
Before you start
Make sure you and any co-applicants have:
- Canada Revenue Agency tax slips and Canada Revenue Agency Notice of Assessment for the tax year before the year you’re applying for the loan (or Canada Revenue Agency proof of income statement)
- Canada Revenue Agency Notice of Assessment for 3 tax years, if you’re self-employed
- Canada Revenue Agency Statement of Business or Professional Activities for the tax year you apply for, if you’re self-employed
- copy of your most recent pay stubs
- copy of your Canada Child Benefit tax statement, if applicable
- government-issued identification (like a driver’s licence)
- Permanent Resident Card, if applicable
- completed Client Pre-Authorized Payment Form (PDF)
- copy of your mortgage commitment or mortgage pre-approval from a National Housing Act (NHA) approved lender (a letter from your mortgage broker isn't valid)
- your lawyer’s information
- sworn affidavit showing no previous home ownership (sign the affidavit in the presence of a person authorized to take sworn statements, like a lawyer, justice of the peace, notary public or commissioner of oaths)
- copy of your Agreement of Purchase and Sale
- written confirmation of employment including your date of hire, position, current annual income, employment status (full time, part-time, casual, seasonal or term)