@hollysmithrealestate: Nova Scotia now offers a First-Time Homebuyers Program that lets eligible buyers put ONLY 2% down of the home’s price. That’s way lower than the usual minimum (normally 5%). Example: On a $390,000 home → 2% down = $7,800 Why This Is Big: You don’t need traditional mortgage default insurance (like CMHC) — even though 2% is below the usual 20% threshold. That normally would mean a big CMHC premium added to your mortgage, costing thousands extra. This program replaces that with a government guarantee at no extra cost. Who Qualifies: ✅ Must be a first-time home buyer (or haven’t owned in last 4 years) ✅ Must live in Nova Scotia full time ✅ Household income ≤ $200,000 ✅ Credit score 630+ ✅ Must pass the CMHC stress test (shows you can handle the mortgage) ✅ Canadian citizen, permanent resident, or sponsored immigrant Home price caps: $570K in Halifax/E. Hants or $500K elsewhere What You Still Have to Budget For… Even with 2% down, you still need: 📍 Closing costs: lawyer fees, HST (where applicable), property adjustments 📍 Monthly mortgage payments 📍 Property taxes 📍 Deed transfer tax These aren’t covered by the program and can add up fast. Thinking about buying your first home in Nova Scotia? Save this & talk to a mortgage professional before you jump in. If you need mortgage broker recommendations or help finding the right home, I’m always happy to help! Holly Smith Royal LePage Atlantic | Nova Scotia Real Estate Team 📞 289 838 2605 📧 [email protected] #firsttimehomebuyer #novascotia #novascotiarealestate

Holly Smith | REALTOR®

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Wednesday 04 February 2026 15:51:12 GMT