The Who, What, When, Where and How of the Downpayment Assistance Program (DAP)


“The Downpayment Assistance Program can help make the dream of homeownership a reality for more individuals and families throughout the province. Affordable homeownership is an investment in our future, and enables us to encourage and support those who choose Newfoundland and Labrador as their home and want to live, work and raise their families here."
- The Honourable Paul Davis, Premier of Newfoundland and Labrador

The long and short of it is...I LIKE IT!

Here is a breakdown of the who, what, when, where and how you, or someone you know, can avail of what I consider the best "real help" new homebuyers have been offered in many years.


WHO qualifies?

Who can apply?

Applicants must have a total household income of $65,000 or less, and be able to obtain a pre-approved mortgage from an accredited lender.


 What exactly is the DAP?

 A $2.5 million investment for a new Downpayment Assistance Program (DAP) for first-time  homebuyers. The two-year pilot program, administered by Newfoundland and Labrador Housing  Corporation (NLHC), provides first-time homebuyers with low-to-moderate incomes the  opportunity to qualify for downpayment loan assistance to purchase a home.



When can I apply?

Simply put.....NOW! Call your mortgage person and/or Realtor TODAY as this offering is limited (if the averages prove to be accurate) to 100-125 persons during the first year.



Where is the program applicable?

The program covers all areas on Newfoundland and Labrador. The breakdown is as follows: $250,000 in St. John’s (Census Metro Area) and Labrador; $200,000 in regional centres (Clarenville, Gander, Grand Falls-Windsor, Corner Brook and Stephenville) and all communities within a 30-kilometre radius; and $175,000 in the remainder of the province.


How do I repay my loan?

Successful applicants will have five years after the purchase of a home before loan repayment begins at a rate of Prime minus 1%.

People who earn more than $65,000 can also avail of the program, as per the sliding scale below.

Sliding Scale of Assistance

Income Level St. John's and Labrador Regional Centres Rural Newfoundland
Maximum Loan Amount* Maximum Loan Amount Maximum Loan Amount
<$65,000 $12,500 $10,000 $8,750
$66,000 $12,000 $9,500 $8,250
$67,000 $11,500 $9,000 $7,750
$68,000 $11,000 $8,500 $7,250
$69,000 $10,500 $8,000 $6,750
$70,000 $10,000 $7,500 $6,250
$71,000 $9,500 $7,000 $5,750
$72,000 $9,000 $6,500 $5,250
$73,000 $8,500 $6,000 $4,750
$74,000 $8,000 $5,500 $4,250
$75,000 $7,500 $5,000 $3,750

* maximum loan amounts are based on the maximum 5% loan available, subject to maximum purchase prices ($250,000 in St. John's (Census Metropolitan area) and Labrador; $200,000 in the five regional centres of Clarenville, Gander, Grand Falls-Windsor, Corner Brook and Stephenville and all communities within a 30-kilometre radius, and $175,000 in the rest of Newfoundland and Labrador.


If you or anybody you know is interested in buying a home and didn't think they could before, now, today is the day to call and start looking. Here's a list of houses that fit the criteria! 


Call me at 685-8362 to discuss.


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