As of February 3, 2026, the Government of Nova Scotia has launched a first-of-its-kind pilot program to help first-time homebuyers enter the market sooner. Here are the exact details you need to:
Nova Scotia Just Made it Easier to Buy Your First Home: 2% DOWNPAYMENT ANNOUNCED!
Dated: February 4 2026
Views: 472
As of February 3, 2026, the Government of Nova Scotia has launched a first-of-its-kind pilot program to help first-time homebuyers enter the market sooner. Here are the exact details you need to know:
1. Lower Down Payment Eligible buyers now only need to provide 2% of the purchase price from their own savings, rather than the standard 5%.
2. No Mortgage Insurance Costs Because the Province of Nova Scotia acts as the guarantor for these mortgages, buyers do not have to pay for traditional mortgage insurance (like CMHC). This can save a homebuyer thousands of dollars in upfront premiums.
3. Program Eligibility
Income: Total household income must be less than $200,000.
Credit: A minimum credit score of 630 is required.
Status: Must be a first-time homebuyer (or have not owned in the last 4 years).
Residency: Must be a Canadian citizen or permanent resident living in Nova Scotia.
4. Property Caps In Cape Breton, the program applies to primary residences with a purchase price of $500,000 or less.
This program is currently only available through participating local Credit Unions.
For More information & a list of participating Credit Unions: Click Here
Questions? Send me a message & I'll try my best to assist!
Sara Kelly, REALTOR® RE/MAX Nova
902-317-0041 | sarakelly@remax.net
Sara Kelly
Hi! I'm Sara Kelly - your local & professional Cape Breton Real Estate Agent licensed with RE/MAX Nova. Born & raised in Glace Bay NS, I've spent my whole life getting to know our beautiful island. I....
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