Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for Saint John homebuyers.
Based on $$260,000 average home price at current New Brunswick rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $13,000 | $9,880 | $256,880 | $1,481/mo | $1,260/mo |
| 10% | $26,000 | $7,254 | $241,254 | $1,391/mo | $1,183/mo |
| 15% | $39,000 | $6,188 | $227,188 | $1,310/mo | $1,114/mo |
| 20%NO CMHC | $52,000 | $0 ✅ | $208,000 | $1,199/mo | $1,020/mo |
The average home price in Saint John is approximately $260,000 as of 2026, representing a +4.2% change year-over-year.
Current 5-year fixed rates in Saint John start around 4.86%, while variable rates start around 3.31%. Credit unions in New Brunswick often offer rates 0.25–0.50% below major banks.
To afford a $260,000 home in Saint John with 10% down at 4.86%, you would need approximately $41,508/year gross income to meet the GDS ratio of 39%.
For a $260,000 home, the minimum down payment is 5% ($13,000). With 5% down, CMHC insurance of $9,880 is added to your mortgage.
With the Bank of Canada holding at 2.25%, variable rates (3.31%) are currently lower than 5-year fixed (4.86%). Variable saves money if rates stay flat or drop, but fixed gives payment certainty. Consult a mortgage broker for your specific situation.