First-time home buyer programs in Newfoundland and Labrador

First-time Homebuyers Program

• A repayable loan of up to 5% of the purchase price, interest-free for 5 years and then repaid over 15 years at no more than prime minus 1%.
• A grant of 50% of legal closing costs, up to $1,500.
• Household income under $85,000 for the full loan, with reduced help up to $95,000. Price limits: $350,000 in the St. John's metro area and Labrador, $300,000 in regional centres, $250,000 elsewhere.
• Applications are approved first come, first served until funding runs out.

Registration fees

Newfoundland and Labrador has no land transfer tax. The Registry of Deeds charges $100 plus 40 cents per $100 of value above $500, on the deed and the mortgage.

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 Newfoundland and Labrador

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.