Are you a person with a low to modest income who needs financial help completing your partially constructed home?
The Home Completion Loan Program provides financial assistance to families with low and modest incomes to help them complete partially constructed homes.
Financial assistance is offered in the form of a repayable loan to complete the home, to a maximum of $40,000.
The loan will be repaid at an interest rate of 0 per cent% for households with incomes of less than $30,000. For each $1,000 of adjusted income above $30,000, the interest rate increases by 0.5 per cent% until it reaches the provincial borrowing rate at that time.
- Families or individuals with total household incomes below $40,000 who occupy or will occupy a partially finished home needing at least one major repair.
- You must be a resident of New Brunswick and have lived here for at least one year.
- Properties not currently occupied may be considered if you can show that it will become your principal residence.
- The home should be structurally sound and require no more than $40,000 to bring it up to reasonable, acceptable standards.
- Only properties that are not eligible for the Homeowner Repair Program qualify.
Call Social Development at 1-833-733-7835. Press 1 for English, 2 for French. Press 2 to talk to someone about housing services. Tell the agent that you would like help with the Home Completion Loan Program.
Please be ready to share basic information, including your contact information, household income and the repairs you would like to make. The agent will do an initial screening. If you may be eligible, they will share your information with a housing officer, who will contact you to begin the application process.
Please be ready to share basic information about your household, income, property and the repairs you would like to make.