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Buying your first home in New Brunswick

What New Brunswick’s own government pages say about buying a first home, with the federal accounts and credits that apply in every province. Each item shows the sentence we read and a link to it.

Published . Last checked .

Real Property Transfer Tax

New Brunswick charges a Real Property Transfer Tax when a deed is registered. The Act sets the rate at 1% of the greater of the consideration for the transfer or the assessed value of the real property, for deeds tendered on or after April 1, 2016. The Act page we read is consolidated to October 1, 2020.

Source

“every person who tenders a deed for registration in the Province shall pay, before the deed is registered, a tax computed at the rate of 1% of the greater of”

New Brunswick: Real Property Transfer Tax Act (R-2.1)

What New Brunswick lists for first-time buyers

OpenLoan

Homeownership assistance program

  • 40%

    of the purchase price when buying, as a repayable loan

  • $75,000

    the most you can borrow when building

Housing NB offers a repayable loan to low and modest income households to buy or build a first home. The interest rate is 0% for household incomes under $30,000 and rises with income above that level.

Source

“The department will provide assistance in the form of a repayable loan for 40% of the purchase price, closing costs and any modest repairs.”

New Brunswick: Homeownership assistance program

Amount in full

Buying: a repayable loan for 40% of the purchase price, closing costs and any modest repairs.

Building: a repayable loan to a maximum of $75,000, and the contribution from the department cannot exceed 50% of the total house costs.

The applicant must provide proof of private financing that, when combined with the assistance, would ensure completion of the house.

Loans are amortized over a period not to exceed 25 years, with terms of one year.

Who qualifies (6)
  • Total household income below $40,000
  • First-time homeowner or living in a substandard housing unit
  • Total debt service ratio must not exceed 42%
  • Must meet the lending requirements of your financial institution when buying
  • Modest housing that qualifies for a 25-year conventional mortgage, or a 20-year mortgage for a manufactured home
  • Mini homes more than 15 years old and dwellings with the potential to generate income do not qualify
How to claim or apply

Call 1-833-733-7835 for more information or to apply.

OpenLoan

Off-Reserve Aboriginal Home Ownership Program (ORAH)

  • 25-year

    loan with an affordable interest rate. The page gives no dollar amount

Housing NB offers a 25-year loan with an affordable interest rate to off-reserve Indigenous households with modest incomes to buy or build a first home. The mortgage includes the purchase price, legal fees and home repairs if needed.

Source

“The program provides off-reserve Indigenous households, with modest incomes, financial assistance to buy or build their first home.”

New Brunswick: Off-reserve Aboriginal home ownership program (ORAH)

Amount in full

The page states a 25-year loan with an affordable interest rate and gives no dollar amount.

Who qualifies (6)
  • Off-reserve Indigenous household
  • Gross household income of $55,000 or less
  • First-time homeowner or living in a unit that is beyond reasonable repair
  • Credit rating of 650 or above, and meets all lending requirements for a first mortgage as described by Housing NB
  • Shelter cost-to-income ratio of no more than 32%
  • Total debt service ratio of no more than 40%
How to claim or apply

Contact the New Brunswick Aboriginal Peoples Council at 506-458-8422 (English only), or Housing NB at 1-833-733-7835.

Federal items that apply in every province

The FHSA, the Home Buyers’ Plan and the home buyers’ amount apply wherever you live. Amounts, conditions, time limits and sources are on one federal page.

What we looked for and did not find

Not listed in the pages we checked:

  • a first-time buyer rebate, refund or exemption from the Real Property Transfer Tax. The exemption list in section 6 of the Act and the classes in section 3 of Regulation 83-106 do not name first-time buyers.
  • a provincial first-time buyer grant, tax credit or savings account open to all income levels. The Housing and property page lists the two loan programs above under homeowner programs.
  • the amount of the Land Registry fee for a home purchase. The Service New Brunswick page says registration fees are typically charged per parcel affected.
  • any New Brunswick provincial tax treatment of the FHSA or the RRSP Home Buyers' Plan.
  • a municipal transfer tax named by a government page.

Common questions

What tax or fees apply when you buy a home in New Brunswick?

New Brunswick charges a Real Property Transfer Tax when a deed is registered. The Act sets the rate at 1% of the greater of the consideration for the transfer or the assessed value of the real property, for deeds tendered on or after April 1, 2016. The Act page we read is consolidated to October 1, 2020.

What first-time home buyer programs does New Brunswick list?

New Brunswick's own pages list Homeownership assistance program and Off-Reserve Aboriginal Home Ownership Program (ORAH). Each one is covered further down the page, with its amount, its conditions and a link to the source.

Can I use the FHSA and the Home Buyers' Plan together?

The CRA says you can withdraw amounts from your RRSPs under the Home Buyers' Plan and make a qualifying withdrawal from your FHSAs for the same qualifying home, as long as you meet all of the conditions at the time of each withdrawal.

See where you stand before you save

NivoaFlow keeps your accounts, your FHSA and RRSP room, and your goals in one picture, so you can see what you have and what is spoken for.

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Other provinces and territories

Sources we read

This page is information, not advice. We read these pages on October 14, 2026. Programs, amounts and deadlines change, so confirm with the source before you act.

The federal sources are listed on the federal programs page.