The new deal is to be cost shared evenly between the two levels of government.
The extension to the original $61 million deal was announced today in Halifax by federal Justice Minister Peter MacKay and Nova Scotia Community Services Minister Joanne Bernard.
The federal portion of the funding comes from Ottawa's Economic Action Plan 2013.
MacKay says the funding will allow the province to direct resources towards housing that best meet local needs and priorities.
Under the program Housing Nova Scotia will assist low and modest income families make home repairs, while various initiatives under the province's housing strategy will provide a range of affordable housing options for owners and renters.