New Brunswick is served by one reverse mortgage lender: HomeEquity Bank (CHIP). Equitable Bank, Bloom Finance, Home Trust, and Fraction do not currently operate in NB. CHIP has served New Brunswick since the mid-1980s, lending across Moncton, Fredericton, Saint John, and smaller Atlantic communities. Four distinct products are available: standard CHIP, CHIP Max, CHIP Open, and Income Advantage — a broker helps you choose the right one for your situation.
New Brunswick stands out in Atlantic Canada for one reason that matters to reverse mortgage borrowers: it has a formal Property Tax Deferral Program. For NB homeowners whose primary need is cash-flow relief on property taxes specifically, the deferral program is worth reviewing before signing up for a full reverse mortgage.
Regulatory Oversight in New Brunswick
Mortgage brokers in New Brunswick are licensed by the Financial and Consumer Services Commission (FCNB), the NB regulator responsible for mortgage broker licensing, conduct standards, and consumer complaints. HomeEquity Bank is federally regulated by OSFI and is a CDIC member. A NB real estate lawyer handles the closing and Independent Legal Advice.
A NB-specific detail: New Brunswick is Canada's only officially bilingual province. CHIP and most NB mortgage brokers and real estate lawyers offer service in both English and French, which matters for Acadian homeowners who prefer French-language documentation. All key reverse mortgage disclosures can be provided bilingually.
New Brunswick Property Considerations
Moncton — Atlantic Canada's Fastest-Growing Market
Moncton (and Greater Moncton — including Dieppe and Riverview) is the fastest-growing city in Atlantic Canada, driven by interprovincial in-migration, immigration, and a diversifying economy. Home values have appreciated substantially since 2020, and most Moncton properties now comfortably exceed the $200,000 CHIP minimum. Dieppe in particular has seen sharp price growth. For reverse mortgage borrowers, this appreciation means meaningfully larger available advances than five or ten years ago.
Fredericton
Fredericton is a government and university town (University of New Brunswick, St. Thomas University, and the provincial legislature), which supports stable property values. Neighbourhoods like Skyline Acres, Forest Hills, and Nashwaaksis typically qualify. The market is less volatile than Moncton's because the economic base is less growth-dependent.
Saint John
Saint John has appreciated more slowly than Moncton and Fredericton, and some older or outer neighbourhoods may have homes below the $200,000 minimum. Uptown, Millidgeville, and West Saint John are more consistent qualifiers. A broker's property-address check before ordering an appraisal is worthwhile in Saint John.
Smaller NB Markets
Bathurst, Miramichi, Edmundston, Campbellton, and other smaller NB communities are more mixed. Property values in these centres can be below the $200,000 threshold, and each file needs its own assessment. CHIP will serve these markets when the property qualifies, but appraiser availability and timelines may be longer. Acadian Peninsula and Madawaska-area properties generally require French-capable service, which CHIP supports.
Rural New Brunswick
CHIP usually serves rural NB properties, but the appraiser network is thin outside the three main cities. Expect longer timelines and closer scrutiny of property condition. Coastal properties used as principal residences are generally acceptable; pure cottages used seasonally are not eligible (reverse mortgages are principal-residence products).
New Brunswick Property Tax Deferral Program
New Brunswick is one of the few Atlantic provinces with a formal Property Tax Deferral Program for eligible senior and low-income homeowners. Key features:
- Available to qualifying senior homeowners (age and income thresholds apply)
- Simple interest accrues on deferred property tax balances (not compound interest)
- A lien is registered against the property; balance is repaid on sale, transfer, or death
- Covers only provincial property taxes, not municipal or other fees
- Cap amounts and eligibility rules are set by the Province and can change — confirm current details with NB's Department of Finance and Treasury Board before applying
For a NB homeowner whose only cash-flow stress is property tax, the deferral program is frequently cheaper than a reverse mortgage. For borrowers who also need cash for renovations, debt consolidation, or income supplementation, a reverse mortgage remains the more comprehensive solution — and the two programs can often be combined. See our guide to the property tax deferral program for a full comparison.
Example: 73-Year-Old Moncton Homeowner
Consider a 73-year-old retired teacher in Moncton with a mortgage-free home appraised at $380,000. Her monthly cash flow (CPP, OAS, modest teacher pension) covers her bills, but she wants to set aside $80,000 for home maintenance over the next decade and fund a bathroom renovation now.
| Home value | $380,000 |
| Target CHIP advance | ~$115,000 (30% LTV — conservative) |
| Initial draw (renovation) | $35,000 |
| Remaining available | ~$80,000 (drawn as needed) |
| Monthly payment obligation | None |
A conservative draw (30%, not 55%) keeps her equity cushion large and interest accrual lower. If her only pressure were property tax, the NB Property Tax Deferral Program would likely be a better fit than a reverse mortgage.
Getting Started in New Brunswick
A broker adds value in NB even though there is only one reverse mortgage lender — especially if you want French-language service, need to weigh a reverse mortgage against the NB Property Tax Deferral Program, or are choosing between CHIP's four products. Broker compensation is paid by HomeEquity Bank, so there is no cost to you. Start with our reverse mortgage calculator, review the eligibility requirements, and read about the property tax deferral program before deciding.