NB First-Time Buyer Programs 2025

Complete guide to every provincial and federal program available to first-time homebuyers in New Brunswick in 2025.

All First-Time Buyer Programs in New Brunswick

Program	Level	Benefit	Max Value
NB LTT First-Time Buyer Rebate	Provincial	Rebate on land transfer tax	$3,000
First Home Savings Account (FHSA)	Federal	Tax-deductible contributions; tax-free withdrawals	$8,000/yr, $40,000 lifetime
RRSP Home Buyers' Plan	Federal	Withdraw RRSP funds tax-free for first home	$35,000/person
First-Time Home Buyer Tax Credit	Federal	Non-refundable federal tax credit	Up to $1,500
GST/HST New Housing Rebate	Federal/Provincial	Partial rebate on HST for new construction	Varies by price
CMHC Mortgage Insurance	Federal	Enables purchase with 5% down	Market access

Provincial: NB Land Transfer Tax Rebate

New Brunswick's most direct first-time buyer incentive is the provincial land transfer tax rebate of up to $3,000. Applied at closing by your lawyer, it reduces or eliminates the LTT on most NB home purchases. Both buyers on title must qualify as first-time buyers. You must move in within 6 months. No application fee and no waiting for a refund — it's deducted at closing.

Federal: First Home Savings Account (FHSA)

The FHSA is the most powerful new tool for NB first-time buyers. You can contribute $8,000/year (lifetime limit $40,000), deduct contributions from your taxable income, and withdraw the entire balance tax-free when purchasing your first home. For a couple, that's up to $80,000 completely sheltered. Open your FHSA as early as possible — unused room carries forward and contribution room begins accumulating from the year you open the account.

Federal: RRSP Home Buyers' Plan

The RRSP Home Buyers' Plan allows each first-time buyer to withdraw up to $35,000 from their RRSP tax-free to purchase a home. A couple can withdraw $70,000 combined. The withdrawn amount must be repaid to your RRSP over 15 years (1/15 per year) or included as income. Best used when your RRSP is well-funded — pairs well with the FHSA.

Stacking Programs for Maximum Benefit

Savvy NB first-time buyers stack multiple programs simultaneously:

• Open FHSA immediately: $8,000 tax deduction in year one
• Use RRSP HBP if RRSP is funded: up to $35,000 withdrawn tax-free
• Claim NB LTT rebate at closing: up to $3,000 saved
• Claim First-Time Home Buyer Tax Credit on your tax return: up to $1,500
• Request GST/HST New Housing Rebate if buying new construction

A couple buying a $320,000 Moncton home could realistically access $80,000+ in combined FHSA/RRSP savings plus $3,000+ in rebates/credits — a transformative advantage.