You may qualify for the Home Ownership Program if you are a family or individual with total household income below $40,000, and you can get private financing that would allow you to afford the home, together with the loan from this program.
You must also:
- Be a first-time homeowner or be living in a substandard housing unit
- Be a resident of New Brunswick and have been living here for at least one year
- Have a good credit rating and meet all financial institution lending requirements for obtaining a first mortgage
You do not have to have a down payment.
Any type of modest housing which qualifies for a 25-year conventional mortgage, or a 20-year mortgage in the case of a manufactured home, may qualify.
For the Home Ownership Program, please contact the regional office of the Department of Social Development at 1-833-733-7835.