Commercial financing · New Brunswick

Commercial Financing Across New Brunswick

Yes. Indi Commercial arranges commercial mortgages on New Brunswick property — apartment buildings, construction, industrial, retail, mixed-use and owner-occupied premises — under Indi Mortgage's licensing across Atlantic Canada. For each deal we compare chartered banks, CMHC-approved lenders, BDC, credit unions and private lenders, then place it with the one whose criteria fit the property and your plan.

Licensed across Atlantic Canada through Indi Mortgage · NS Mortgage Brokerage Licence 2025-3000688 · 15 lender relationships · 3 licensed advisors

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New Brunswick had 775,610 residents at the 2021 Census, 3.8% more than in 2016, and Statistics Canada's preliminary estimate for July 1, 2026 is 883,522. No single metro area dominates the province. Commercial lending is split between three cities of broadly similar size: the Moncton census metropolitan area (157,717 people in 2021), Saint John (130,613) and Fredericton (108,610). Each has its own economy and tenant base, so a deal in one city does not always price like a deal in the next.

Rental housing drives most of the activity. CMHC's October 2025 Rental Market Survey put purpose-built apartment vacancy at 3.9% in Moncton, 2.5% in Fredericton and 1.9% in Saint John, with average two-bedroom rents of $1,453, $1,413 and $1,290 respectively. That spread shows up in underwriting. Moncton's higher vacancy means lenders look harder at lease-up on new buildings, while Saint John's lower rents keep loans per unit smaller and put debt-service coverage under a brighter light. Across the province, a 3% annual cap on rent increases, kept in place for 2027, limits how much income growth any lender will credit.

Beyond apartments, the commercial market follows each city's economy. Greater Moncton sits on the highway routes that carry traffic from the rest of Canada into Nova Scotia and Prince Edward Island, and has warehouse, distribution and big-box retail property to match. Saint John's port and industrial base support yard, warehouse and light-industrial buildings, and its uptown holds older mixed-use stock. Fredericton's office and retail lean on provincial government and university tenants. Outside the three cities — Miramichi, Bathurst, Edmundston and the smaller towns — deals are smaller, fewer lenders compete for them, and knowing who is lending where counts for more.

What we finance in New Brunswick

Commercial Mortgages in New Brunswick — purchases and refinances of income property and business premises, from Moncton retail to Saint John industrial and Fredericton office.
Apartment & Multifamily in New Brunswick — apartment buildings of five units and up, sized on in-place rents because increases are capped at 3% a year.
CMHC MLI Select in New Brunswick — CMHC-insured loans on new and existing purpose-built rental anywhere in the province, with leverage and amortization tied to affordability, energy and accessibility points.
Construction Financing in New Brunswick — draw-based loans for rental and commercial builds, with the permanent lender chosen before the first draw goes out.
Bridge Financing in New Brunswick — short-term money to close fast, carry an older building through renovation or wait out a CMHC approval.
Commercial Refinancing in New Brunswick — renewals and equity takeouts on New Brunswick commercial mortgages, tested against other lenders before you sign the renewal.
Owner-Occupied in New Brunswick — buying the warehouse, shop, clinic or office your business runs from, underwritten on the operating company as well as the real estate.

Markets we serve in New Brunswick

Miramichi: the North Shore's regional service centre, with older rental stock, retail and owner-occupied trade premises.
Bathurst: retail, hospitality and small apartment buildings serving the Chaleur region.
Edmundston: the francophone Madawaska city near the Quebec and Maine borders, with retail, light industrial and walk-up rental.
Sackville: Mount Allison University's town near the Nova Scotia border, where student rental and main-street mixed-use lead.
Woodstock: a Saint John River valley town on the Trans-Canada Highway, with highway-commercial and farm-business property.
Sussex: Kings County's dairy-country hub between Moncton and Saint John: retail, agricultural commercial and smaller rental buildings.
St. Andrews: seasonal resort hospitality and heritage main-street property on Passamaquoddy Bay.

New Brunswick commercial market snapshot

Measure	Figure	As of	Source
Population, 2021 Census	775,610	2021 Census	Statistics Canada — Population and dwelling counts, Canada, provinces and territories (Table 98-10-0001-01)
Population estimate	883,522	July 1, 2026 (preliminary)	Statistics Canada — Quarterly population estimates (Table 17-10-0009-01)
Moncton CMA apartment vacancy	3.9%	October 2025	CMHC Housing Market Information Portal — Moncton CMA vacancy by bedroom type (apartments)
Fredericton CMA apartment vacancy	2.5%	October 2025	CMHC Housing Market Information Portal — Fredericton CMA vacancy by bedroom type
Saint John CMA apartment vacancy	1.9%	October 2025	CMHC Housing Market Information Portal — Saint John CMA vacancy by bedroom type (apartments)
Annual rent increase cap	3%, kept for 2027	June 24, 2026 release	Government of New Brunswick — Three per cent rent cap maintained in response to ongoing affordability challenges
Real property transfer tax	1% of the greater of price or assessed value	Statute consolidation current to Jan 1, 2024	Government of New Brunswick — Real Property Transfer Tax Act, R-2.1, s.2(1.03)
Provincial property tax on rental (non-owner-occupied) residential	$0.5617 per $100 of assessed value	Checked Oct 24, 2026	Government of New Brunswick — How property tax works in New Brunswick

Lenders active in New Brunswick

On New Brunswick files we start with the national lenders on our panel. The chartered banks — CIBC, TD, Scotiabank, RBC and BMO — compete for stabilized apartment buildings and well-tenanted commercial property in the three cities. CMHC-approved lenders such as First National handle insured multifamily, BDC is often the right fit for owner-occupied premises and business-backed loans, and Roynat Capital looks at business-backed term financing. When a deal needs speed or a short-term fix, we turn to private and alternative lenders on our panel, such as Peakhill Capital, Graysbrook Capital and Keystone Financial, at a higher cost.

The province's own credit unions are active commercial lenders too, particularly in smaller centres and on local owner-operator deals. Lender appetite narrows quickly once you leave Moncton, Saint John and Fredericton: some national lenders set minimum loan sizes or limit the markets they lend in, and appraisers in smaller towns have fewer comparable sales to work from. Matching a Miramichi or Edmundston file to a lender that actually wants it, rather than sending it everywhere, is most of the work.

Regulatory and cost notes

Mortgage brokerage licensing: Anyone carrying on the business of brokering or administering mortgages in New Brunswick must comply with the Mortgage Brokers Act, S.N.B. 2014, c.41, and FCNB Rules MB-001 and MB-002. Brokerage licences are applied for through the Financial and Consumer Services Commission (FCNB). Indi Commercial is licensed across Atlantic Canada through Indi Mortgage. (Financial and Consumer Services Commission (New Brunswick) — Mortgage Broker Industry)
Real property transfer tax: When a deed is tendered for registration, the Real Property Transfer Tax Act charges 1% of the greater of the price paid and the property's assessed value. The consolidated text we cite is current to January 1, 2024, so have your lawyer confirm the amount due before closing. (Government of New Brunswick — Real Property Transfer Tax Act, R-2.1, s.2(1.03))
Rent cap: Residential rent increases are limited to 3% year over year, a cap in place since February 2025. In June 2026 the province kept it at 3% for the 2027 calendar year and scheduled the next review for May 2027. (Government of New Brunswick — Three per cent rent cap maintained in response to ongoing affordability challenges)
Rent increase notice and above-cap increases: Landlords must give six months' written notice of an increase, can raise rent only once every 12 months, and cannot raise it during the first 12 months of a tenancy. Going above 3%, to a maximum of 9%, takes an application and must be justified by capital spending on unit renovations. (Government of New Brunswick — Rent increases)
Property tax: Rental buildings pay the provincial non-owner-occupied residential rate, which the province halved over 2022–2023, from $1.1233 to $0.5617 per $100 of assessed value. Local governments tax non-residential property at 1.4 to 1.7 times the residential rate, and since 2025 the Spike Protection Mechanism has capped annual assessment increases at 10% for all property types, with some exceptions. (Government of New Brunswick — History of property tax in New Brunswick)
CMHC: CMHC's Atlantic Business Centre in Halifax serves the Atlantic region, New Brunswick included, for insured multifamily lending such as MLI Select. (CMHC — Regional offices)

How deals tend to structure in New Brunswick

Typical: buying a stabilized apartment building under the 3% cap

An investor buying an occupied building in Moncton or Fredericton is underwritten on the rents tenants pay today. With increases held to 3% a year and six months' notice needed for each one, lenders give little credit to a rent-growth story, and a plan that leans on above-cap increases for renovated units has to clear the approval process first. Because leverage is set on in-place income, the real choice is usually between a conventional mortgage and a CMHC-insured one on the same rent roll.

Typical: an owner-occupied warehouse in a Greater Moncton or Saint John industrial park

A distribution or trades business buying its own building is judged on the operating company first: how long it has been profitable, how much of the space it will fill and whether the rest can be leased. BDC, the banks and Roynat each weigh that covenant differently. Non-residential property is taxed at a multiple of the residential rate in New Brunswick, so lenders also check that the tax bill sits comfortably inside the business's cash flow.

Typical: a rental build in a smaller centre with an insured takeout

A local builder planning apartments in Miramichi, Bathurst or Edmundston usually finds fewer construction lenders interested than in the three cities, and an appraiser with fewer comparable buildings to lean on. The file comes together when the permanent loan, often CMHC MLI Select, is chosen before the first draw. The construction lender then knows its exit, and the energy or affordability features that score points are in the plans rather than retrofitted later.

Frequently asked questions

Can Indi Commercial finance property in New Brunswick?

Yes. Indi Commercial is licensed across Atlantic Canada through Indi Mortgage, and we arrange commercial mortgages for New Brunswick apartment buildings, industrial, retail, mixed-use and construction projects. For how the process runs, see How we work across Atlantic Canada (/about#atlantic).

Who licenses mortgage brokerages in New Brunswick?

The Financial and Consumer Services Commission (FCNB). Brokering or administering mortgages in the province falls under the Mortgage Brokers Act, S.N.B. 2014, c.41, together with FCNB Rules MB-001 and MB-002.

What transfer tax applies when buying commercial property in New Brunswick?

Real property transfer tax of 1%, calculated on whichever is higher, the purchase price or the assessed value, and paid when the deed is registered. That rate comes from the Act's consolidation current to January 1, 2024. Your lawyer will confirm it, along with legal and lender costs, before closing.

How does the 3% rent cap change apartment underwriting?

Lenders size the loan on today's rent roll and assume sitting tenants' rents rise no more than 3% a year, each increase needing six months' written notice. The province has kept the cap for 2027, so a business plan built on fast rent growth will not carry much weight with a lender.

Can a landlord raise rent above 3% after renovating?

Only with permission. A landlord can apply to go above the cap, up to 9%, where the increase is justified by capital spending on unit renovations. Lenders treat those increases as possible upside, not as income they can count on before approval.

How is rental and commercial property taxed in New Brunswick?

Rental property pays the provincial non-owner-occupied residential rate of $0.5617 per $100 of assessment, plus the municipal rate. Local governments tax non-residential property at 1.4 to 1.7 times the residential rate, and yearly assessment increases have been capped at 10% since 2025, with some exceptions.

Which New Brunswick markets do you cover?

The whole province. The three cities and their suburbs, including Dieppe, Riverview, Quispamsis, Rothesay and Oromocto, have the deepest lender interest. We also finance property in Miramichi, Bathurst, Edmundston, Sackville, Woodstock and smaller towns, where comparing lenders matters even more.

Is CMHC MLI Select available for New Brunswick rental projects?

Yes. It covers purpose-built rental of five or more units, new or existing, that earns enough points for affordability, energy efficiency or accessibility. At New Brunswick rents, the program's extra leverage and longer amortization are often what make a project's numbers work.

How long does a New Brunswick commercial closing take?

Plan on roughly 30 to 60 days for a conventional purchase or refinance once the lender has a full package, and 60 to 120 days or more when CMHC insurance is involved. Appraisals, environmental reports and legal work set the pace, and lining up an appraiser outside the cities can add time.

How do I get started on a New Brunswick deal?

Use the form below to send the address, the loan you need and your timing, or book a 15-minute call. We will tell you plainly how we would structure it and which lenders are likely to look at it, before anything is submitted.

How we work across Atlantic Canada

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Financing a property in New Brunswick? Model it with the commercial mortgage feasibility calculator, start an application, or reach our Atlantic commercial team at (902) 298-0218.

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