First-time home buyer programs in New Brunswick

Homeownership Assistance Program

• Buying: a repayable loan for 40% of the purchase price, plus closing costs and modest repairs. Building: up to $75,000, and no more than 50% of the cost.
• Household income must be below $40,000, and you must be a first-time owner or live in substandard housing.
• The loan is interest-free with income under $30,000; the rate rises with income. It's amortized over up to 25 years, and your total debt service can't exceed 42%.

Real property transfer tax

New Brunswick charges 1% of the greater of the price and the assessed value, with no first-time buyer exemption.

Federal programs available in every province

• First Home Savings Account (FHSA): contribute up to $8,000 a year, to $40,000 in total, with tax-deductible contributions and tax-free qualifying withdrawals.
• Home Buyers' Plan: withdraw up to $60,000 from your RRSPs and repay it over 15 years.
• GST/HST first-time home buyers' rebate: up to $50,000 of the federal GST on a newly built home, in full up to $1,000,000 and phased out at $1,500,000.
• Home buyers' amount: a federal non-refundable tax credit of $1,500 (15% of $10,000).
• With less than 20% down, first-time buyers can get an insured mortgage with an amortization of up to 30 years.

Estimate your costs in New Brunswick

The calculator applies the provincial transfer tax or registration fees, with first-time buyer relief where the province offers it, plus default insurance and the monthly payment.

Before you rely on a program

Each figure on this page comes from the government page cited for it. We checked every program against its official page on November 13, 2026, and give the date a rule took effect wherever the government states one. Programs can close, run out of funding or change their limits, so confirm eligibility with the program before you sign an agreement of purchase and sale. Loans must be repaid, and income and price limits apply to the whole household.