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Nova Scotia Cuts Down Payment for First-Time Homebuyers

2/4/2026

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Summary

Story summary

The Nova Scotia government launched the First-time Homebuyers Program to reduce the minimum down payment from five percent to two percent.
To qualify, applicants must have household income of $200,000 or less, pass a stress test, and have a credit score of at least 630.
The program caps home prices at $570,000 in Halifax and $500,000 elsewhere.
Housing Minister John White emphasized affordable homeownership because prices and rents strain residents.

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Story summary

The Nova Scotia government launched the First-time Homebuyers Program to reduce the minimum down payment from five percent to two percent.
To qualify, applicants must have household income of $200,000 or less, pass a stress test, and have a credit score of at least 630.
The program caps home prices at $570,000 in Halifax and $500,000 elsewhere.
Housing Minister John White emphasized affordable homeownership because prices and rents strain residents.