Moncton, NB

Mortgage broker in Moncton

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What does a mortgage cost in Moncton right now?

A typical home in Moncton costs around $330,000. With the federal minimum down payment of $16,500 and default insurance added, the mortgage comes to roughly $326,040 — about $1,740 a month at 4.14% over a 25-year amortization.

New Brunswick charges 1% of the greater of purchase price and assessed value, so Moncton closing costs stay modest even on a detached home.

Typical Moncton home price: about $330,000.
Minimum down payment: $16,500.
Estimated monthly payment at 4.14% over 25 years: $1,740.
Estimated closing taxes and registration: $3,300.

The Moncton numbers, line by line

Benchmark purchase price: $330,000
Minimum down payment: $16,500
Mortgage before insurance: $313,500
Default insurance premium: $12,540
Total mortgage: $326,040
Monthly payment at 4.14%: $1,740
Real property transfer tax (estimate): $3,300

Prices are rounded market estimates and payments exclude property tax, heat and condo fees. Run your own figures in the payment calculator or the land transfer tax calculator, and see today's New Brunswick rates.

What 8Twelve does for Moncton borrowers

Purchases and pre-approvals for Moncton buyers, including new builds and condos.
Renewals and lender switches at maturity — no penalty, and most lenders cover the legal costs.
Refinancing and equity takeout for renovations, investments or tuition.
Debt consolidation, rolling high-interest balances into one mortgage payment.
Self-employed, new-to-Canada and rental-income files that a single bank's policy would turn down.

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Moncton mortgage questions

How much do I need for a down payment in Moncton?

On a $330,000 home in Moncton — a typical price for the market — the federal minimum down payment is $16,500. That is 5% of the first $500,000 and 10% of the portion above it. Below 20% down the mortgage must be insured, which adds a premium of roughly $12,540 to the balance.

What are mortgage payments like in Moncton?

At 4.14% over a 25-year amortization, a $330,000 purchase in Moncton with the minimum down payment works out to roughly $1,740 a month in principal and interest. Property tax, heat and condo fees are on top of that.

How much is real property transfer tax in Moncton?

New Brunswick's real property transfer tax works out to about $3,300 on a $330,000 purchase in Moncton. New Brunswick charges 1% of the greater of purchase price and assessed value. First-time buyer rebates can reduce this where the province offers them.

Does 8Twelve have mortgage agents licensed in Moncton?

Yes. 8Twelve Mortgage is licensed in New Brunswick and works with Moncton homeowners and buyers across purchases, renewals, refinances and debt consolidation, with access to more than 65 lenders rather than a single bank's rate sheet.

Is a mortgage broker better than my bank in Moncton?

A bank can only offer its own products. A broker shops the same application across banks, credit unions, monoline lenders and alternative lenders, then presents the best approval. For Moncton borrowers with self-employment income, rental income or a thin credit file, that breadth is usually the difference between an approval and a decline.

More for Moncton homeowners

Moncton homeowners most often ask us about our mortgage refinance guide, switching lenders at renewal and paying off high-interest debt with home equity. Every city we cover is listed in the mortgage broker directory. Province-wide rules and pricing are on the New Brunswick mortgage rates page.

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