Moncton is the $350,000 example because New Brunswick's transfer tax in this library is a flat 1 percent of price with no first-time buyer rebate. That tax is due on the full price, separate from the insured mortgage. The price is still in the 5 percent minimum-down band. Heat stays at the series assumption used in the $400,000 mortgage article, and condo fees stay at zero unless you add them in the calculator. Half of any condo fee would count, the same way the affordability tool counts it. Using the Desjardins 5-year fixed, insured contract rate of 4.14% as of 2026-09-03, a minimum down payment of $17,500, and a premium of $13,300, the insured mortgage is $345,800. The land-transfer result for a first-time buyer is $3,500 net. New Brunswick charges a flat 1% land transfer tax with no first-time buyer rebate. Typical property tax in the library is about $4,200 a year. With no other debts, the binding ratio is GDS and the gross income is about $82,810.
Rate sensitivity
Only the middle row is the lender sheet. The other contract rates are illustrative, so you can see the 5.25% floor and a higher contract rate. They are not quotes.
| Rate | Qualifying | Stress payment | Income |
|---|---|---|---|
| Illustrative 3.00% contract (floor applies) (illustrative) | 5.25% | $2,061 | $77,252 (GDS) |
| Minimum down payment, sheet rate | 6.14% | $2,241 | $82,810 (GDS) |
| Illustrative contract plus 1 point (illustrative) | 7.14% | $2,452 | $89,292 (GDS) |
Other monthly debts
Same minimum down payment and sheet rate. Debts of $0, $400, and $650 are scenarios, not a claim about Moncton households.
| Debts | GDS income | TDS income | Binds |
|---|---|---|---|
| No other monthly debt | $82,810 | $73,399 | GDS |
| $400 other monthly debt | $82,810 | $84,308 | TDS |
| $650 other monthly debt | $82,810 | $91,127 | TDS |
Down payment
| Down payment | Premium | Mortgage | Income |
|---|---|---|---|
| 5% down ($17,500) | $13,300 | $345,800 | $82,810 |
| 10% down ($35,000) | $9,765 | $324,765 | $78,614 |
| 20% down ($70,000) | $0 | $280,000 | $69,687 |
New Brunswick example — Moncton
First-time buyer land transfer tax from the library: $3,500 before rebate, $0 rebate, $3,500 net. New Brunswick charges a flat 1% land transfer tax with no first-time buyer rebate.
Property tax at the library's typical New Brunswick rate of 1.20% is about $4,200 a year ($350 a month). That is a provincial benchmark in the code, not a Moncton tax bill.
Frequently asked questions
- What income do you need for a $350,000 home in Moncton?
- At the minimum down payment of $17,500, with heat of $100 a month, no condo fee, and no other debts, the stress-test income is about $82,810 a year. The contract rate is Desjardins 4.14% as of 2026-09-03. The qualifying rate is 6.14 percent. GDS is the ratio that binds.
- What down payment and insurance premium apply to $350,000 here?
- The library minimum down payment is $17,500. The CMHC premium at that down payment is $13,300 (4.00 percent of the amount borrowed when the down payment is under 20 percent). The insured balance is $345,800.
- What transfer tax and property tax does the library return for Moncton?
- For a first-time buyer, net land transfer tax is $3,500. New Brunswick charges a flat 1% land transfer tax with no first-time buyer rebate. The typical provincial property-tax rate in the library is about $4,200 a year on this price. This example does not add Toronto municipal land transfer tax.
- How does a $400 monthly debt change the $350,000 Moncton income?
- The same housing costs plus $400 of other monthly debt need about $84,308 of gross income. TDS binds in that row. TDS uses 44 percent and includes the debts. GDS stays at 39 percent and does not include them.