Closing Cost Support Program

The Closing Cost Support Program assists Prince Edward Islanders of low and modest incomes with financial assistance to cover a portion of the closing costs on the purchase of their first home.

Eligible applicants can apply to receive a contribution of up to $2,500 to support the closing costs of the purchase. Apply using the online form below.

Am I eligible for closing cost assistance for my first house?

For an applicant to be eligible for assistance, the following criteria must be met:

• At least one of the Applicants is a citizen or permanent resident of Canada and the Applicant is a resident of PEI;
• The Applicant is a first-time home buyer (as defined by the Real Property Transfer Tax Act);
• The Applicants total annual household income must be $100,000 or less in based on line 15000 from your Canada Revenue Agency “Notice of Assessment";
• Confirmation of income must be provided by way of a Notice of Assessment from the Canada Revenue Agency for the previous taxation year;
• The property being purchased is in Prince Edward Island, must be owner-occupied, and constitutes the Applicant's principal residence as a single-family dwelling, with no portion of the dwelling being rented out;
• The closing date for the property purchased occurred after December 1, 2023.

What information do I need to provide with the application?

You will be asked to provide:

• Identity and contact information for the primary applicant and, if applicable, the co-applicant;
• Identity and contact information for legal counsel handling your real estate file; 
• Property ID for the new property;
• Marital status for each applicant;
• Household income – each applicant’s projected income for the current year and total income, as per line 15000 from the CRA “Notice of Assessment”, for the last taxation year filed; 
• Copy of a birth certificate or passport for each applicant; 
• “Notice of Assessment” for previous taxation year for each applicant, as downloaded from the online “My Account” at CRA;
• Copy of the Closing Cost Support Certification and Authorization form, completed and signed as required;

Additional documents to finalize program financing, when available, including:

• Copy of the fully executed Purchase and Sale Agreement for the home being purchased; 
• Statement of Adjustments for the purchase;
• Written confirmation that the transaction has closed; and
• Proof of payment for legal fees (ie. a receipt from the law firm)

For more information, contact:

Fred Irving, Housing Project Coordinator
11 Kent Street, P.O. Box 2000
Charlottetown C1A 7N8

Telephone: 902-314-0428
Toll Free: 1-800-563-3734
Fax: 902-368-3394
Email: fairving@gov.pe.ca

The Province of Prince Edward Island will accept applications until the allocated budget has been committed. The budget will be allocated on a first-come, first-serve basis and only complete applications will be eligible for processing.