As a REALTOR® in Moncton, helping first-time buyers navigate these programs is key to making homeownership more accessible in our affordable market—where average home prices hover around $300,000–$350,000. Below, I’ll outline the main federal, provincial, and local incentives available as of October 2025.
These are based on current government programs, but eligibility can vary by individual circumstances (e.g., income, residency). Always advise clients to consult a mortgage specialist, financial advisor, or the Canada Revenue Agency (CRA) for personalized advice, and check for updates via official sites like canada.ca or gnb.ca.
Programs are categorized for clarity. Note: The federal First-Time Home Buyer Incentive (shared-equity mortgage) ended in March 2024 and is no longer available.
Federal Incentives (Available Nationwide, Including New Brunswick)
These apply to all first-time buyers in Canada, defined as someone who hasn’t owned a home in the last 4 years (or ever, in most cases).
| Incentive | Description & Amount | Eligibility | How to Access | Notes for Moncton Buyers |
| Home Buyers’ Plan (HBP) | Tax-free withdrawal from your RRSP for a down payment or home purchase. | First-time buyer; must repay over 15 years (starting in year 5 if withdrawn 2022–2025). | Up to $60,000 per person ($120,000 for couples). Increased from $35,000 in 2024. | Ideal for stacking with FHSA; impacts retirement savings long-term. Apply via your financial institution. |
| First Home Savings Account (FHSA) | Tax-deductible contributions with tax-free growth and withdrawals for home purchase. | First-time buyer; open up to 15 years before buying. | Annual limit: $8,000; lifetime: $40,000. | Great for Moncton’s entry-level condos/townhomes; combine with HBP for max down payment power ($100K+ potential). |
| Home Buyers’ Tax Credit (HBTC) | Non-refundable tax credit to offset closing costs. | First-time buyer purchasing a qualifying home (principal residence). | Up to $1,500 (claimed on taxes for the year of purchase). | Claim via CRA tax return; helps with Moncton’s low land transfer taxes (no provincial rebate, but federal credit applies). |
| GST Rebate for New Homes (FTHB GST Rebate) | Eliminates or reduces GST on new builds to cut upfront costs. | First-time buyer; new/substantially renovated home as primary residence; at least one buyer qualifies. | Full rebate up to $1M home value (save ~$50,000 max); partial (36% reduction) for $1M–$1.5M. Applies to agreements after May 27, 2025. | Perfect for Moncton’s growing new developments (e.g., in Dieppe/Riverview); excludes resale homes. Expected to save buyers $27K on average new build. |
| GST/HST New Housing Rebate | Rebate on federal portion of GST/HST for new homes. | First-time or any buyer of new/renovated home; primary residence. | Up to 36% of GST/HST paid (max ~$6,300 federal portion). | Stacks with provincial rebates; apply via CRA after purchase. Relevant for Moncton’s modular/new construction options. |
| Mortgage Rule Changes | Extended amortization and higher insured mortgage cap for easier qualification. | First-time buyers or new-home purchasers; insured mortgages (under 20% down). | 30-year amortization; insured up to $1.5M (from $1M in 2024). | Lowers monthly payments by ~10–15%; 5% min down on homes ≤$500K. Crucial in Moncton for affordability. |
Provincial Incentives (New Brunswick-Specific)
New Brunswick focuses on low-income support rather than broad rebates. No first-time buyer land transfer tax rebate (unlike ON or BC), but taxes are low (~$250–$500 on a $300K home).
| Incentive | Description & Amount | Eligibility | How to Access | Notes for Moncton Buyers |
| Home Ownership Assistance Program (HOAP) | Forgivable loan for down payment or renovations on modest homes. | Household income ≤$55,000 (adjusted 2025); first-time buyer; NB resident ≥1 year; home ≤$220,000 purchase price. | Up to $25,000 forgivable over 10 years (if you stay). Updated from older $75K repayable version. | Administered by NB Housing; apply online at nbhousing.ca. Targets Moncton’s starter homes in areas like Irishtown. |
| Residential Rehabilitation Assistance Program (RRAP) | Grants/loans for essential repairs to make homes habitable. | Low-income first-time buyers (income-tested); owner-occupied. | Up to $20,000 forgivable grant + low-interest loan. | Pairs well with HOAP; useful for older Moncton properties needing updates. Contact CMHC or NB Housing. |
Local/Municipal Incentives (Moncton Area)
Moncton itself doesn’t have dedicated first-time buyer grants, but nearby initiatives and market factors help:
- No Specific Moncton Rebates: Unlike Fredericton (which piloted $20K grants for 5 buyers in early 2025, focused on new lots), Moncton relies on provincial/federal. However, the city’s low property taxes (~1.5%) and growth make it buyer-friendly.
- Dieppe/Riverview Options: Adjacent municipalities offer similar access; check local real estate boards for emerging pilots.
- Market Tip: Moncton’s 2025 inventory boom (new builds up 15%) maximizes GST rebate impact.
Key Advice for FTHB in Moncton
- Stacking Programs: Combine FHSA + HBP + GST rebate for $50K–$80K in effective buying power on a $350K home.
- Eligibility Check: Use CRA’s HBP calculator or NB Housing’s pre-qualifier. Residency proof (1+ year in NB) is common.
- Costs to Budget: Factor ~2–4% closing costs (land transfer tax, legal fees); incentives can cover 20–30%.
- Next Steps: Recommend pre-approval via a local broker (e.g., in Moncton) and viewing incentives on canada.ca/housing or nbhousing.ca. For new builds, highlight the GST rebate to spur action before 2031 deadlines.
These incentives make Moncton one of Canada’s most approachable markets for first-timers—let’s connect buyers with the right fit! If you need client-specific scenarios or updates, reach out.
CLICK HERE for more information about The New Brunswick First-Time Home Buyer Incentive.
*The information provided here is for educational purposes only. Consult real estate, financial and legal professionals before making any financial or real estate decisions.
*This is not intended to solicit Buyers or Sellers under contract