Save at least 5% to 20% of the purchase price for a down payment; if it's less than 20%, CMHC insurance costs between 2% and 4% of the purchase price. Consider 0% interest borrowing from your RRSP for the down payment. Get pre-approved for a mortgage before searching for a home. Research communities to find the best fit based on schools, hospitals, and amenities. Be aware of additional costs like home inspection, appraisal fees, and property tax. Explore first-time home buyer incentives available in New Brunswick.
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