New Brunswick Mortgage Calculator 2021

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Home Price
Down Payment
Interest Rate
Amortization (Years)
Payment Frequency
Your Monthly Payment
CMHC Premium is Included
Modify your payment by selecting from top lenders:

Mortgage Costs Over 5-Year Term

Total Cost:$117,876
Land Transfer Taxes and Other Costs
Your CMHC Premium is $13,950
Your Land Transfer Tax is $5,000
Did You Know:
Your land transfer tax could be lower if you are a first-time home buyer
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New Brunswick’s Land Transfer Tax

First enacted in 1983, New Brunswick’s land transfer tax is taxed at a flat rate of 1% of the real property value. For example, with a $500,000 home, the buyer will be required to pay $5000 in transfer taxes.

New Brunswick’s First Time Home Buyers incentives

Although New Brunswick doesn't offer land transfer tax rebates for first time buyers like in provinces such as British Columbia and Ontario, the government offers a homeownership program. This program provides low income residents with a repayable loan for up to $75,000 for 40% of the purchase price. This loan may be interest free or discounted, with the interest rate depending on your household income.

New Brunswick Closing Costs

If you are looking for a home to purchase, budgeting for home closing costs is very important to prevent yourself from overspending. Common closing costs that are over $100 are: property appraisal, lawyer & legal fees, home inspection, property survey and title insurance.

Cost of Living In New Brunswick

Overall, the province is a very affordable place to live with a very modest cost of living. Below shows a breakdown of the average monthly living costs for both a 3 and 4 person family in the province:

3 Person Family4 Person Family
Housing2 Bedroom Apartment ($1193)3 Bedroom Apartment ($1327)

Since 2015, the population of New Brunswick has grown by 22,461 people, from 759,617 to 782,078.

Housing Prices in New Brunswick

In April 2020, the average home price in New Brunswick was $182,368. By April 2021, the average home price is now $257,649, good for a 41.3% increase!