Buying your first home can feel like a big leap, especially when saving for a down payment feels like the biggest hurdle. Nova Scotia’s new First-time Homebuyers Program Pilot is designed to help make that first step more achievable for buyers across the province.
This new program is a partnership between the Government of Nova Scotia, Atlantic Central, and participating credit unions. Its goal is simple: help more first-time buyers become homeowners sooner, without the usual financial barriers getting in the way.
What Is the First-time Homebuyers Program?
Traditionally, buyers in Canada need a minimum 5 percent down payment and often have to pay mortgage insurance. Under this new pilot program, eligible first-time buyers may be able to purchase a home with as little as 2 percent downwhen financing through a participating credit union.
The key difference is that these mortgages are backed by a provincial guarantee, which removes the need for traditional mortgage insurance. That can reduce upfront costs and make qualifying for a home more attainable.
For many buyers, this means less time saving and more time actually shopping for a home that fits their lifestyle.
Who Is Eligible?
To qualify for the First-time Homebuyers Program, buyers must meet several criteria, including:
You must be a first-time homebuyer
Total household income must be under $200,000
You must be a Canadian citizen or permanent resident living full-time in Nova Scotia
A minimum credit score of 630 is required, or alternative proof of creditworthiness if your credit history is limited
You must be able to provide at least a 2 percent down payment and cover closing costs
You must pass a mortgage stress test and receive pre-approval from a participating credit union
The home must be your primary residence
Purchase price limits apply
Up to $570,000 in Halifax Regional Municipality and East Hants
Up to $500,000 elsewhere in Nova Scotia
Eligibility is confirmed as part of your mortgage application through a participating credit union, not through a separate government application.
Why This Program Matters
For many first-time buyers, the biggest challenge is not affordability month to month, but saving the initial down payment. By lowering that barrier, this program opens the door to homeownership for renters who are already paying monthly housing costs but struggling to get ahead.
It can be especially impactful for buyers who want the stability of ownership, predictable housing costs, and the ability to build equity instead of paying rent.
Putting This Program to Work With New Construction
This program pairs particularly well with new construction homes, where buyers benefit from modern layouts, energy efficiency, and lower maintenance costs in the early years of ownership.
I currently have new construction inventory priced at $559,900, located just 25 minutes outside Dartmouth in East Hants, that qualifies for the First-time Homebuyers Program pilot. This means eligible buyers could secure a brand-new home while staying within the program’s purchase price limits for this area.
With limited inventory that meets affordability program criteria, opportunities like this tend to move quickly.
Thinking About Buying Your First Home?
If you are renting now and wondering whether this program could help you make the jump into homeownership, it may be worth exploring your options sooner rather than later.
If you would like more details about the program, help understanding your buying power, or information on reserving one of the qualifying new construction homes in East Hants, feel free to reach out. I am happy to walk you through the process and connect you with the right lending partners.
Contact me to learn more or to reserve your home.
Information current as of February 3, 2026 and subject to change. Visit the First Time Home Buyers website to confirm and learn more.