New Brunswick

Homeownership Assistance Program

Easy application

Homeownership assistance program gives 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 reviewed: September 15, 2026