New Brunswick

Home Ownership Program

Easy application

Tax filing not required

The Home Ownership programgives financial help to families living on low and modest income to help you buy or build a first home.

If you buy an existing unit, the program will give help in the form of a repayable loan for 40% of the purchase price of the unit.

You must meet all the lending requirements at your financial institution (bank, credit union, Caisse Populaire, trust company).

If you are building a home, the department will give help in the form of a repayable loan up to $75,000, but no more than 50% of the total house costs.

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.

Last updated: February 8, 2023