02/05/2026
I just want to take a moment to explain two key advantages of the new Nova Scotia First-Time Homebuyers Program, using a $400,000 home as an example.
Before, you needed at least 5% down, so $20,000. And for a mortgage of this size you would have to pay about $15,000 in mortgage insurance.
Now, with the new program, you only need a 2% down payment, just $8,000, and hereās a big part⦠you donāt need mortgage insurance. The Province of Nova Scotia is partnering with certain credit unions and backing these mortgages, meaning more savings for you.
There is more to it, and Iāll make a separate longer video reviewing everything but I just wanted to make sure you were informed on these 2 big points.
The takeaway is if youāve been stuck renting because saving $20,000 felt impossible⦠saving $8,000 is a very different conversation.
If youāre wondering whether homeownership is within reach for you, get in touch today. Donāt wait⦠Oby Opens Doors, and I can help you get started on your journey.