Debt Consolidation Mortgage in New Brunswick: Rates, Break-Even and Rules
Rolling credit cards at 22% into a mortgage at single digits is usually the cheapest money available to someone carrying balances. Here is how it works in New Brunswick, and where it goes wrong.
Who a debt consolidation mortgage in New Brunswick covers
- Borrowers carrying revolving balances above roughly $20,000
- Anyone whose minimum payments have stopped touching the principal
- Files where consolidating would fix the TDS ratio, not just the payment
What New Brunswick lenders look for
| 80% loan-to-value ceiling | Same limit as any refinance. Consolidation is a refinance with a purpose attached. |
| Payoff direct to creditors | Most lenders insist on paying the debts directly at closing rather than advancing the cash. This is a feature, not an obstacle. |
| Amortization reset | Spreading card debt over 25 years lowers the payment enormously and can raise the total interest paid. The saving is real only if you do not re-run the balances. |
| Alternative lenders | If credit has already been damaged by the debt, a B lender will still consolidate at a higher rate, then refinance to prime once the bureau recovers. |
Debt Consolidation mortgage rates in New Brunswick
Consolidation is a refinance and prices on the uninsured shelf. Even at the top of that shelf it is a fraction of card rates.
What a typical purchase looks like
| Typical price | $399,000 |
| Minimum down payment | $19,950 |
| RPTT | $3,990 |
Averaged across 1 New Brunswick market we track. Calculate yours →
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Debt Consolidation mortgages across New Brunswick
Prices and property tax vary widely inside the province, and both feed your qualification.
| Market | Typical price | Minimum down | |
|---|---|---|---|
| Moncton | $399,300 | $19,965 | Affordability → |
Debt Consolidation mortgage questions for New Brunswick
How much will it actually save me?
On $50,000 of card debt at 22% moved to a mortgage at 5%, roughly $700 a month of interest. The catch is amortization: over 25 years the total interest can exceed what you would have paid clearing the cards in three. Run both.
Will it hurt my credit?
Short term, paying revolving balances to zero usually helps materially — utilisation is a large part of the score. The risk is behavioural: cards paid off and then re-run leave you with both debts.
What if I do not have 20% equity?
A refinance stops at 80% LTV. Below that threshold the options are a second mortgage, a consumer proposal, or waiting. A broker should tell you which honestly, including when the answer is none of the above.
What does it cost to close in New Brunswick?
Real property transfer tax on a $399,000 purchase comes to $3,990, due in cash on closing. Full New Brunswick closing costs →
Debt Consolidation in New Brunswick?
Send us the file and a licensed broker comes back with what is realistically available — which lenders will take it, at what rate, and what they will want to see.
