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Mortgage Programs

No Down Payment Mortgage

If you would like to purchase a house, but don't have enough savings to cover a 5% down payment and closing costs, our No Down Payment program might be able to help!

To qualify for the No Down Payment program, you need to have good credit with a minimum credit score of at least 650.  There cannot be any outstanding collections or a bankruptcy appearing on your credit report.

You must be able to prove your income via paystubs, T4s and/or Revenue Canada Notice of Assessments.

Under the current mortgage rules, the banks are only allowed to finance up to 95% of the purchase price on a mortgage.  However, we have lenders that will finance the 95% on the mortgage AND lend you a separate loan for the 5% down payment.  Sometimes, we can consolidate some small debts and/or add additional funds to help cover some of your closing costs.

As of May 1, 2017, the Province of Nova Scotia has a NEW down payment assistance loan program to help First Time Home Buyers obtain a 5% down payment.  To see all of the program's criteria, you can downlad the Down Payment Assistance Program fact sheet  from our Library.

Please give us a call today at (902) 820-3303 to set up an appointment to explore your mortgage options.