HALIFAX, N.S. — Nova Scotia has announced changes to its home down payment assistance program to expand program eligibility to more first-time ...
Nova Scotia has announced changes to its home down payment assistance program. - Azin Ghaffari/PostmediaHALIFAX, N.S. — Nova Scotia has announced changes to its home down payment assistance program to expand program eligibility to more first-time homebuyers.
The Department of Municipal Affairs and Housing said it is adopting the definition of first-time homebuyer used by the Canada Mortgage and Housing Corp. CMHC says they are someone who has never purchased a home before or has gone through a breakdown of a marriage or common-law partnership. People who have yet to occupy a home that either they or their current spouse or common-law partner owned in the last four years are also included.
Roger Boutilier, CEO of the Nova Scotia Association of Realtors, said his industry had expressed concerns with the definition of first-time homebuyers, which excluded Nova Scotians who may have co-owned a home in the past with a partner and are now separated or divorced."Any time levels of government align definitions and policies is a benefit to Canadians.
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