Millennial DPAP

Nicole and Matt have been diligently paying down debt for the last five years, while living with her parents and saving a down payment. These millennial parents, with two young children and average paying jobs, are finally in the financial position to resume their hunt for a home.

After going through a mortgage pre-approval process, Matt and Nicole met with their REALTOR®. They had already created their housing wish list, been pre-approved for a mortgage, and started saving for their down payment. In discussing housing options with them, their REALTOR® asked if they’d heard of the Down Payment Assistance Program (DPAP). Neither of them had. Could that help with their dreams of homeownership? Their REALTOR® assured them that, if they met the qualifications, this program could definitely help them purchase their first home.

In fact, DPAP has helped over 300 families purchase a home in Nova Scotia since its inception in 2017. First-time buyers with family incomes of $75,000 or less can qualify for down payment assistance. Depending on the region of the province and the purchase price of the home, families can receive between $7,500 and $14,000 in interest-free 10 year down payment loans from the province of Nova Scotia. To receive down payment assistance, buyers must be Nova Scotian residents for at least 12 months, be purchasing their first home, qualify for an insured mortgage, and have a satisfactory credit rating, among other conditions.

Nicole and Matt know that having that extra boost towards their down payment will mean the difference between buying a home now, and waiting until next year. They meet all the qualifications, they know funding is still available in their region, and their REALTOR® can recommend a great mortgage professional to help with the process. As Matt and Nicole begin filling out their DPAP application, they’re excited to work with their REALTOR® to finally find their dream home.

NSAR is the professional association for over 1500 REALTOS® in Nova Scotia. Visit or to find your REALTOR®.