New Brunswick has Canada's most affordable homes with low LTT. Complete first-time buyer guide: NB Home Ownership Program, FHSA, RRSP HBP.
From saving your down payment to claiming rebates — your complete New Brunswick first home guide.
New Brunswick Land Transfer Tax: 0.5% of purchase price — no first-time buyer rebate
New Brunswick charges a land transfer tax of 0.5% of the purchase price, payable on all real estate transactions. On a $300,000 Fredericton or Moncton home, the LTT is approximately $1,500 — one of Canada's lowest land transfer taxes. There is no specific first-time buyer rebate in New Brunswick.
The FHSA is the most powerful savings tool for New Brunswick first-time buyers in 2025. Contribute up to $8,000/year with a $40,000 lifetime limit. All contributions are tax-deductible (saving you both federal AND New Brunswick provincial tax). All withdrawals for a qualifying first home purchase are completely tax-free — no repayment required unlike the RRSP HBP.
$8,000 contribution at 40% combined marginal rate = $3,200 tax refund that year. Do this for 5 years and you've saved $40,000 + $16,000 in tax refunds = $56,000 total benefit. Hold the FHSA at EQ Bank (3.00%) to earn $1,200/year in tax-free interest on a $40K balance.
Withdraw up to $35,000 from your RRSP tax-free under the Home Buyers' Plan. Repay the amount over 15 years (1/15th per year). If you and a qualifying spouse/partner are both first-time buyers, you can each withdraw $35,000 for a combined $70,000 from two RRSPs. Unlike the FHSA, you need to repay the HBP amount to your RRSP over 15 years.
The most powerful New Brunswick first-time buyer strategy combines both accounts. A single buyer can access $40,000 from FHSA + $35,000 from RRSP HBP = $75,000 in tax-advantaged funds toward a down payment. A couple can access up to $125,000 combined. This strategy is particularly impactful for the $300,000 (Moncton/Fredericton average) average New Brunswick home — $75,000 can cover much of the 20% down payment goal.
20% goal: $60,000 | FHSA contributes: up to $40,000 | RRSP HBP contributes: up to $35,000 | Combined: $75,000 covers a significant portion of or exceeds the 20% goal depending on home price.
NB Home Ownership Program (down payment assistance for qualifying households), federal FHSA, RRSP HBP, and federal First Home Buyer's Tax Credit ($1,500).
While saving your down payment, every basis point of interest rate matters. The best accounts for New Brunswick first-time buyers are: (1) FHSA at EQ Bank — earn 3.00% while getting tax deductions; (2) TFSA at EQ Bank — earn 3.00% tax-free on contributions outside FHSA; (3) RRSP at EQ Bank — earn 3.00% and deduct contributions; (4) KOHO for everyday spending — earn up to 5% cashback to accelerate savings.
No fee everyday banking
Set up direct deposit and skip the monthly fee. Free to open, and the Easy plan has no monthly fee. Worth doing if you will actually move your pay or your CRA deposits over, not if the card sits unused. Code BREMO2026.
| Program | Maximum Benefit | Type | Repayment? |
|---|---|---|---|
| First Home Savings Account (FHSA) | $40,000 + tax deductions | Federal | No |
| RRSP Home Buyers' Plan | $35,000 per person | Federal | Yes (15 years) |
| First Home Buyer's Tax Credit | $1,500 federal tax savings | Federal | No |
| New Brunswick LTT Rebate/Savings | Varies by province | Provincial | No |
| KOHO $20 Bonus | $20 cash | Referral | No |
| Combined Potential Savings | $75,000–$150,000+ |