Home completion loan program

The program offers financial assistance to families or individuals with a total household income below $40,000, who are occupying or will be occupying a partially finished home that needs at least one major repair.

The department will provide a repayable loan up to a maximum of $40,000 to help complete the home.

Households with incomes less than $30,000 receive the loan at an interest rate of 0%. For each $1,000 of income above $30,000, the interest rate will increase by 0. 5% up to the provincial borrowing rate. Loans will be amortized over a period up to 25 years with terms lasting one year.

The total debt service ratio of the household, including the Home Completion Loan, must not exceed 42%. 

Applicants must be a resident of New Brunswick and have been living in the province for at least one year.