Nova Scotia Down Payment Assistance Program

by Century 21 Optimum

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 up to 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.

You can get a loan of up to 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).

Help with your application

The Down Payment Assistance Program can help you with the application process. They can also answer questions about required supporting documents.

Eligibility

You can apply for the loan if you:

have a credit rating of 650 or more
are pre-approved for an insured mortgage by an approved lender
are a first-time home buyer
have a total household income of less than $145,000
are a Canadian citizen or have permanent resident status and live in Nova Scotia (you need to live in Nova Scotia for at least 183 days each year)
don’t have the financial ability to pay 5% of the purchase price of the property without help from the Down Payment Assistance Program

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)

You need to apply at least 2 weeks before the financing deadline on your Agreement of Purchase and Sale.

How to apply

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.

How long it takes

It should take 2 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 for the tax year before the year you’re applying for the loan
Canada Revenue Agency Notice of Assessment for the tax year before the year you’re applying for the loan
Canada Revenue Agency proof of income statement (option ‘C’)
copy of your most recent pay stubs
copy of your mortgage pre-approval
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)
completed Authorization for Electronic Funds Transfer Form (PDF)

Application form

Down Payment Assistance Program (DPAP) Form (PDF 175 kB)