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Qualified individuals can use to get an interest-free loan that is repayable of to five % for the purchase cost of a house.
- The acquisition cost of the true house might not surpass $280,000 into the Halifax Regional Municipality (HRM) and $150,000 when you look at the remaining portion of the province.
- Participants need good credit and stay 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 really a home buyer that is first-time
- The applicant doesn’t have the monetary capability to spend 5% associated with purchase cost of the home without help associated with system. Continue reading The advance payment Assistance Program (DPAP) assists Nova Scotians with modest incomes who pre-qualify for an mortgage that is insured purchase their very very very first house.