The Down Payment Assistance Program (DPAP) assists Nova Scotians with modest incomes who pre-qualify for an mortgage that is insured buy their very very first house.
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Eligible individuals can put on to receive an interest-free loan that is repayable of to five % for the purchase price of a property.
Eligibility:
- The purchase cost of the house might not meet or exceed $280,000 within the Halifax Regional Municipality (HRM) and $150,000 within the remaining portion of the province.
- Individuals will need to have good credit and start to become pre-approved for an insured home loan by an accepted standard bank.
- The following criteria must be met: for an applicant to be eligible for the assistance
- The house is with in Nova Scotia
- The applicant is a first-time house customer
- The applicant doesn’t have the economic power to spend 5% of this purchase cost of the home without help of this system. Continue Reading »
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