Mahone Bay, South Shore
Buying your first home in Nova Scotia as a newcomer
You can qualify with 5% down and no Canadian credit history. There are established rules for international credit, work permits, and a down payment that arrived from abroad; here they are, with the CMHC source.
Can a newcomer to Canada get a mortgage in Nova Scotia?
Yes. CMHC’s newcomers criteria cover both permanent residents and non-permanent residents authorised to work in Canada, with financing to 95% loan-to-value on a one- or two-unit home and 90% on three to four units. Where Canadian credit history is limited, an international credit report or a letter from your bank in your country of origin can stand in.
Qualifying without a Canadian credit file
The usual blocker has a documented answer: where Canadian credit history is limited, CMHC will consider an international credit report, a letter of reference from the borrower’s financial institution in their country of origin, or other alternative methods of establishing creditworthiness. Start collecting the evidence before you apply; it takes time to obtain from another country.
- 95% loan-to-value on 1–2 units
- 90% on 3–4 units, one owner-occupied
- Credit score 600+ where a Canadian score exists
- Legally authorised to work in Canada
- 1–4 units, owner-occupied
- Maximum loan-to-value set by the insurer and lender
CMHC newcomers criteria, verified 2026-09-20; Sagen and Canada Guaranty run parallel programs.
- An international credit report, translated where necessary.
- A letter of reference from your bank abroad on the length and conduct of the relationship.
- Twelve months of rent history: cancelled cheques, bank debits or a landlord’s letter. The most persuasive, because it is a housing payment.
- Twelve months of utility or telecom payments in your name in Canada.
Start a Canadian file immediately as well: a secured credit card, used lightly and paid in full each month, builds a score quickly.
Qualifying without a Canadian credit file
- Status confirmed Permanent resident, or a work permit with authorisation to work in Canada
- Rent and utility history Cancelled cheques, bank debits or a landlord’s letter; an international credit report where available
- Down payment traced $29,634 at 5% on $592,675 Statements showing the money arriving, and where it came from
- Pre-approval Rate held 90–120 days One credit check, with your written consent
- Keys Up to 95% loan-to-value On a one- or two-unit home you live in
- 10% non-resident deed transfer tax: generally exempt if you move here to live within the qualifying window
CMHC newcomers criteria; August 2026 Halifax-Dartmouth average from Nova Scotia Association of REALTORS® / CREA monthly statistics; non-resident tax from the Province of Nova Scotia. Last verified September 20, 2026.
Go deeper
The detail, if you want it
Permanent resident, or work permit
Under CMHC’s criteria, non-permanent residents must be legally authorised to work in Canada, for example on a work permit, and the property must be owner-occupied. CMHC states no maximum loan-to-value for non-permanent residents, and several lenders apply their own lower limit; confirm it with the actual lender.
A down payment that arrived from another country
Lenders must verify the source of every dollar; money from abroad needs a paper trail:
- 90 days of statements for the account the funds now sit in, showing them arriving.
- Evidence of where the money came from: foreign account statements, a property or business sale, an employment settlement. A large unexplained deposit stops the file.
- A gift letter if a relative is providing the funds, confirming no repayment is expected. A borrowed down payment is “non-traditional” and carries a higher premium at 95% financing.
Start early: foreign bank statements inside a 30-day financing condition are a common reason deals fall apart.
The non-resident tax, and where credit unions come in
Nova Scotia charges a separate 10% Non-resident Provincial Deed Transfer Tax on residential property with three dwelling units or fewer, including residential vacant land, calculated on the higher of the purchase price and the assessed value, on top of the municipal deed transfer tax.
Someone moving here to live is generally exempt if they become a resident within the qualifying window and prove it; the rules were amended in August 2026. Settle it before closing rather than claim a refund after. The exemptions and the 2026 changes →
Neither provincial first-time buyer program is restricted by citizenship. The Nova Scotia First-time Homebuyers Program allows 2–4% down with household income under $200,000 and a credit score of 630+, delivered only by Atlantic Central and participating Nova Scotia credit unions.
Credit unions are provincially regulated, so the OSFI qualifying rate of the greater of the contract rate plus 2% and 5.25% does not bind them, and several know newcomer files better than the large banks. First-time buyer programs compared →
How it works
From first call to keys, in four steps
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A 15-minute call
You say what you’re trying to do and roughly what you earn.
Riley tell you the price a lender will support, the cash you need to close, and what to fix first.
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Documents and pre-approval
You send the short list through a secure upload link.
Riley package the file and come back with a pre-approval letter and a rate held 90 to 120 days.
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Lenders, side by side
You read the comparison and pick.
Riley place one application with banks, credit unions and monolines, and show you every answer.
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Approval, lawyer, keys
You sign with your own local lawyer.
Riley hold the lender, appraiser and lawyer to the closing date.
Why a broker
Licensed, independent, paid by the lender
- Licensed in Nova Scotia Associate broker 3001134, verifiable on the provincial register
- $0 broker fee On a standard residential mortgage the lender pays, not you
- Banks, credit unions, monolines One application, one credit check, placed with the lender that reads your file best
- Every part of the province Bedford office, remote process: Yarmouth to Sydney, the same four steps
Questions people ask
Can I get a mortgage in Canada without a Canadian credit history?
Yes. Where Canadian credit history is limited, CMHC will consider an international credit report or a letter of reference from your bank in your country of origin. At least one borrower or guarantor still needs a credit score of 600 where a Canadian score exists.
Can I buy a home in Canada on a work permit?
Yes. CMHC’s newcomers criteria cover permanent and non-permanent residents. A non-permanent resident must be legally authorised to work in Canada, for example on a valid work permit, and at least one unit of the property must be owner-occupied.
Do I have to pay the Nova Scotia non-resident deed transfer tax?
Only if you are a non-resident of Nova Scotia at closing and do not move here within the exemption window. The tax is 10% on residential property with three dwelling units or fewer, including residential vacant land, charged on the higher of the purchase price and the assessed value, on top of the municipal deed transfer tax. Someone moving here to live is generally exempt, but residency proof and timing matter.
How long do I need to be in Canada before I can buy?
The insurers set no minimum period, but lenders want employment that will continue and a down payment they can trace: in practice, three months of Canadian employment and 90 days of statements. Funds from abroad need documentation of the source, not just the arrival.
Still unsure? Ask me directly.
If your question isn't here, your situation is probably specific. Fifteen minutes on the phone beats reading another page, and nothing is pulled on your credit.
(902) 298-0218 · Monday to Friday, 8:00 am to 10:00 pm Atlantic
Tell me your status and where the down payment is
You get back which documents your situation needs, which lenders read it best, whether the non-resident tax applies, and a realistic timeline, at no cost.
(902) 298-0218 · Monday to Friday, 8:00 am to 10:00 pm Atlantic