First-time home buyers in New Brunswick: the programs, provincial and federal
What New Brunswick offers a first-time buyer, what the federal government adds, and the down payment on the September 2026 benchmark price.
What help is there for first-time home buyers in New Brunswick?
New Brunswick has no first-time buyer grant or transfer tax exemption. Its Homeownership Assistance Program lends 40% of the price to households earning under $40,000. Most buyers rely on the federal layers instead: the FHSA ($8,000 a year to $40,000), the Home Buyers’ Plan (up to $60,000 from an RRSP), the $10,000 Home Buyers’ Amount and a 30-year insured amortization.
Every program a first-time buyer in New Brunswick can use
| Program | What it gives, and who qualifies |
|---|---|
| Homeownership Assistance Program (Government of New Brunswick) | A repayable loan for 40% of the purchase price, closing costs and modest repairs, for first-time homeowners with household income below $40,000; interest from 0% under $30,000 of income. |
| Home Completion Loan Program | A repayable loan of up to $40,000 to finish a partly built home, household income below $40,000. |
| First Home Savings Account (federal) | Contributions of $8,000 a year, up to $40,000, deductible going in and tax-free coming out for a first home. |
| Home Buyers’ Plan (federal) | Up to $60,000 from your RRSP toward a first home; repayment starts in the fifth year after the withdrawal year for withdrawals made 2026–2028, over 15 years. |
| Home Buyers’ Amount (federal) | A $10,000 non-refundable tax credit in the year you buy. |
| First-time buyer GST/HST rebate (federal) | Up to $50,000 on a new home: the federal part of the HST in full up to $1,000,000, phased out to $1,500,000. |
| 30-year insured amortization (CMHC) | First-time buyers can take 30 years instead of 25 on an insured mortgage, lowering the payment. |
There is no first-time buyer exemption or refund in the Act or its regulation.
Go deeper
The detail, if you want it
The down payment on the September 2026 benchmark price
The insured minimum is the same across Canada: 5% of the first $500,000 and 10% of the remainder (1–2 units). On $341,700 that is $17,085, and the 4% CMHC premium is added to the mortgage, making it $337,600. The transfer tax and registration — $3,587 — must be cash.
What lenders look for
An insured mortgage needs a credit score of 600 or more for at least one borrower, housing costs within 39% of gross income and all debts within 44%, measured at the stress-test rate. Program money still has to clear those ratios.
Closing, start to finish
A lawyer closes: the final title search, the conversion of the parcel to Land Titles (required when it is sold or mortgaged; the Province then issues a certificate of registered ownership) and the registration, all online through Service New Brunswick.
Why a broker
Licensed, independent, paid by the lender
- Licensed across Atlantic Canada Indi Mortgage brokerage licences in NS, NB and NL (PEI has no licensing regime); Riley Oickle, Associate Mortgage Broker, NS 3001134
- $0 broker fee On a standard residential mortgage the lender pays, not you
- 33 lenders, one application Banks, credit unions, monolines; one credit check
Questions people ask
Do first-time buyers pay land transfer tax in New Brunswick?
There is no first-time buyer exemption or refund in the Act or its regulation.
What is the minimum down payment for a first home in New Brunswick?
The federal rule: 5% of the first $500,000 and 10% of the remainder (1–2 units), on an insured mortgage under $1,500,000. On the September 2026 benchmark price of $341,700 that is $17,085.
Is there a down payment assistance program in New Brunswick?
Homeownership Assistance Program (Government of New Brunswick): A repayable loan for 40% of the purchase price, closing costs and modest repairs, for first-time homeowners with household income below $40,000; interest from 0% under $30,000 of income.
Can I use the FHSA and the Home Buyers’ Plan together?
Yes, for the same qualifying home: up to $40,000 from an FHSA and up to $60,000 from an RRSP under the Home Buyers’ Plan, which is repaid over 15 years.
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