In January, the Province of Nova Scotia launched the First-Time Homebuyers Pilot Program, a joint initiative of the Government of Nova Scotia, Atlantic Central, and participating credit unions. The four-year pilot program is a unique mortgage product allows applicants to secure a mortgage with just a two per cent down payment. Mortgages are backed by a government guarantee, allowing eligible homebuyers to make a smaller down payment and avoid the cost of traditional mortgage default insurance. Credit unions are the only mortgage providers to offer this program.  

Additional details on eligibility can be found online here.