Mortgage affordability in New Brunswick (2026)
New Brunswick remains one of the most affordable provinces in Canada for homebuyers. Average home prices range from $310,000 to $340,000 across the province, with markets like Moncton, Saint John, and Fredericton all below the national average.
Quick answer: With a $100,000 household income and 5% down, you can afford approximately $500,000 in New Brunswick — well above the provincial average.
Use the calculator below to estimate how much house you can afford based on your income, down payment, debt, and current mortgage rates.
How much house you can afford in New Brunswick (2026)
These estimates are based on a 4.5% interest rate, 25-year amortization, 5% down payment, and $500/month in other debt obligations:
| Household Income | Estimated Affordability | Minimum Down Payment |
|---|---|---|
| $60,000 | ~$280,000 | $14,000 |
| $70,000 | ~$340,000 | $17,000 |
| $80,000 | ~$410,000 | $20,500 |
| $90,000 | ~$460,000 | $23,000 |
| $100,000 | ~$510,000 | $26,000 |
| $120,000 | ~$600,000 | $35,000 |
For more detailed estimates, adjust the inputs in the calculator above to match your specific situation.
What income do you need to buy a home in New Brunswick in 2026?
| Home Price | Required Income | Min. Down Payment |
|---|---|---|
| $280,000 | ~$65,000 | $14,000 (5%) |
| $340,000 | ~$75,000 | $17,000 (5%) |
| $420,000 | ~$95,000 | $21,000 (5%) |
| $500,000 | ~$110,000 | $25,000 (5%) |
| $650,000 | ~$140,000 | $40,000 |
| $800,000 | ~$170,000 | $60,000 |
These assume a 4.5% rate, 25-year amortization, and $500/month in other debt payments.
New Brunswick minimum down payment
| Purchase Price | Minimum Down Payment |
|---|---|
| Less than $500,000 | 5% of purchase price |
| $500,000 to $999,999 | 5% on first $500K + 10% on the remainder |
| $1 million or more | 20% of purchase price |
If your down payment is less than 20%, you are required to purchase mortgage default insurance, which adds 2.8% to 4.0% of the mortgage amount to your costs.
Key ratios lenders use
Lenders in Canada use two ratios to determine how much mortgage you can afford:
Gross Debt Service Ratio (GDS)
GDS = (Mortgage payments + Property tax + Heating + Condo fees) / Gross Income
Your monthly housing costs should not exceed 35% of gross income (CMHC maximum is 39%).
Total Debt Service Ratio (TDS)
TDS = (Housing costs + All other debt payments) / Gross Income
Your total debt payments should not exceed 42% of gross income (CMHC maximum is 44%).
Use the debt service ratio calculator to check where you stand.
Additional costs when buying in New Brunswick
Beyond the purchase price, budget for these closing costs:
| Cost | Typical Amount |
|---|---|
| Land transfer tax | Varies by price |
| Legal fees | $1,000 – $1,800 |
| Home inspection | $400 – $600 |
| Title insurance | $250 – $400 |
| Property tax adjustment | Varies |
| Mortgage insurance | 2.8% – 4.0% (if < 20% down) |
New Brunswick also charges 15% HST on new construction homes. See the NB sales tax calculator for details.
Tips to improve your affordability
- Save a larger down payment — the FHSA lets first-time buyers save up to $40,000 tax-free
- Pay down debt first — lowering your TDS ratio increases what you qualify for
- Shop for the best rate — check New Brunswick mortgage rates to find the lowest available rate
- Consider a longer amortization — 30-year amortization (for insured mortgages with 20%+ down) lowers monthly payments
Frequently asked questions
How much house can I afford making $80,000 in New Brunswick?
Approximately $390,000 to $410,000, assuming 5% down, 4.5% interest, 25-year amortization, and $500/month in other debt.
What income do you need to buy a house in New Brunswick?
For the average home price of $275,000 to $300,000, you need roughly $65,000 to $75,000 in household income with minimal debt.
Is New Brunswick affordable compared to other provinces?
Yes — NB is one of the most affordable provinces. Average prices of $275K-$300K are well below the national average of over $700K.
Related guides
- New Brunswick mortgage rates 2026 — Compare current rates in Moncton, Saint John, Fredericton
- New Brunswick land transfer tax calculator — Deed transfer tax rates
- New Brunswick sales tax calculator — 15% HST on new construction
- New Brunswick minimum wage 2026 — Current wage rates
- Down payment calculator — Plan your down payment amount
- Mortgage insurance calculator — CMHC premium costs
- Debt service ratio calculator — Check your GDS and TDS
- FHSA calculator — First Home Savings Account for first-time buyers
- Income needed to buy a home in Canada — Salary requirements by city
- Nova Scotia mortgage affordability calculator — Compare to neighbouring province