First Time Home Buyer Incentives in New Brunswick 2021

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First Time Buyer Calculator New Brunswick

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Property Type

Existing/ResaleNew Construction

You could qualify for...

First-Time Buyer Land Transfer Tax Rebate
$00
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Shared-Equity Incentive
$25,00025k
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Home Buyer's Plan (RRSP)
up to$35,00035k
Find out more about national incentive programs
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Interest Rate help

The annual interest rate on the mortgage loan amount. A lower interest rate can drastically reduce your mortgage payments.

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Goverment Incentive Option

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None
5
%
$25,00025k
10
%
Ineligible
Your Monthly Payment
$1,9651.96k
/month
Down Payment
(Incl. Incentive)
$50,00050k
Mortgage Amount
(Incl. CMHC Premium)
$463,950464k

New Brunswick First-Time Home Buyer Incentive

The Government of New Brunswick’s Home Ownership Program provides a repayable loan of up to $75,000 to first-time home buyers. To qualify, you must have a household income less than $40,000 and have been a resident of New Brunswick for at least one year. The Home Ownership Program provides a repayable loan for 40% of the purchase price, of up to a $75,000 loan.

This loan is interest-free for households with incomes less than $30,000. For every $1,000 of income above $30,000, the interest on the loan increases by 0.5%, up to the provincial borrowing rate. With the loan, your Total Debt Service Ratio must not exceed 42%. The loan will have a term of one year, and a maximum amortization of 25 years.

This calculator is provided for general information purposes only. WOWA does not guarantee the accuracy of information shown and is not responsible for any consequences of the use of the calculator.