Down Payment Explained | Minimum 5%, Nova Scotia Program & Real Closing Costs

Описание: Buying a home in Nova Scotia starts with one big question:
How much down payment do you really need?

In this episode of How Much Mortgage, we sit down with Richard Abbass, Mortgage Broker, to break down the down payment—no fluff, just facts.

Here’s what you’ll learn:
• The minimum 5% down payment requirement in Nova Scotia
• How the Nova Scotia Down Payment Assistance Program works
• Get up to 5% for your down payment
• Interest-free
• 10-year repayment term
• Why closing costs matter (and why many buyers underestimate them)
• How a larger down payment reduces the total interest you pay over the life of your mortgage
• What changes when you put 20% or more down
• Access to different mortgage options
• No mortgage default insurance
• More flexibility long-term

This episode is especially helpful if you’re:
• A first-time home buyer in Nova Scotia
• Trying to understand if 5% is really enough
• Deciding whether to wait and save more or buy sooner
• Comparing long-term costs, not just monthly payments

If you want clarity before you buy—this episode will save you time, money, and bad decisions.

Watch, learn, and make smarter mortgage moves.


Richard Abbass
Associate Mortgage Broker
📱 902-802-1346
📩 [email protected]



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Legal Disclaimer: How Much Mortgage is an educational and interview-based platform. The content provided in our videos, including interviews with real estate and mortgage professionals, is for informational and entertainment purposes only. It does not constitute professional financial, investment, or legal advice.

Every individual's financial situation is unique. We strongly recommend that you consult with a licensed professional (Mortgage Broker, Realtor, or Financial Advisor) for an accurate evaluation tailored to your specific circumstances before making any financial decisions. How Much Mortgage and its creators are not responsible for any actions taken based on the information provided in this channel.