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Qualified individuals can put on to get an interest-free repayable loan of up to five % associated with purchase cost of a property.
- The acquisition cost of the home may well not surpass $280,000 into the Halifax Regional Municipality (HRM) and $150,000 within the rest of the province.
- Individuals should have good credit and get pre-approved for the insured home loan by an accepted standard bank.
- For a job candidate to qualify for the support, the next requirements must certanly be met:
- The house is with in Nova Scotia
- The applicant is just a home buyer that is first-time
- The applicant doesn’t have the ability that is financial spend 5% of this purchase cost of the house without help for the system.
- The applicant is pre-approved for an insured home loan by an accepted standard bank
- The applicant includes a satisfactory credit history [...]