by The province is making changes to its Down Payment Assistance Program that offers eligible homebuyers an interest-free loan of up to five per cent of the price of their first home.
In Cape Breton, the cut-off for home prices has gone from $200,000 to $300,000.
It’s gone up to $500,000 in the Halifax area.
Other changes to the program include increasing the total household income eligibility from $75,000 to $145,000 across the province and removing the sliding scale to provide five per cent down payment to all applicants.
Under the changes, the maximum down payment interest-free loan will be $25,000, repayable over 10 years.
Repayment starts one month after the loan is issued.