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Ratehub.ca is the home of the best mortgage rates in Canada - 3.89% 5-yr fixed.

Find the best mortgage rate in St. John's

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Best St. John's mortgage rates

The rate table shows 5-year fixed mortgage rates in St. John's. To compare other rate types and terms, click on the filters icon beside the down payment percentage.

ratehub.ca insights: Bond yields are in the 2.6% range, as markets await a solution to the current US government shit down. Fixed mortgage rates are unchanged for the time being. Variable mortgage rates are stable. Consider getting a pre-approval and rate hold to lock in a rate for up to 120 days.

As of:

RateProviderPayment

CIBC

$2,120

Simplii Financial â„¢

$2,098

National Bank of Canada

$2,120

TD Bank

$2,152

Tangerine

$2,185

Bank of Montreal

$2,190

St. John's mortgage rates: Common questions

How much can I save by comparing St. John's mortgage rates?


Why compare St. John's mortgage rates with Ratehub.ca?


Are St. John's mortgage rates higher than other cities?


What’s the difference between variable and fixed rates?


Is it worth getting a mortgage pre-approval?


Which bank has the best mortgage rates in St. John's?


Should I use a mortgage broker in St. John's?


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Getting the best mortgage rates in St. John's

As the capital of Newfoundland, St. John's is one of the more important cities on Canada's east coast. As such, St. John's is also home to a healthy real estate and mortgage market. This is good news for St. John's home buyers because it gives you access to a wide range of mortgage products and mortgage rates, while still reaping the benefit of lower home prices than some of Canada's bigger cities.

Below we've laid out some of the things you should consider before looking for a mortgage in St. John's. When you're ready, you can compare personalized quotes for mortgage rates in St. John's with the tools at the top of this page.

Best mortgage rates in St. John's +

Comparing the best mortgage rates in St. John's

The comparison tables at the top of this page list the best mortgage rates available in St. John's, up to the minute. Comparing rates between multiple providers and mortgage brokers is the best thing you can do to get the lowest rate possible.

Of course, your personal rate may be different from the rates listed above. The rate you're eligible for can change based on things like your down payment, the price of the house, your credit score, which lender you choose, as well as what the property is being used for.

Luckily, you can get personalized quotes for mortgage rates without filling in a full mortgage application. Use the tools at the top of this page and we’ll provide you with personalized mortgage quotes from St. John's lenders in under two minutes.

St. John's closing costs

When applying for a new mortgage in St. John's, you'll need to consider the closing costs associated with all property purchases. Most of these costs will need to be paid upfront, so you’ll need to save the cash to pay for them (in addition to your down payment).

Newfoundland Land Transfer Tax

When buying a home in Newfoundland, you'll be subject to the Newfoundland Land Transfer Tax. This tax will need to be paid in cash, and cannot be added to your mortgage. In Newfoundland and Labrador, the land transfer tax is charged on the property value and mortgage amount, as follows:

Property Value Tax amount
$500 or less $100.00
greater than $500 $100.00 plus $0.40 for each additional one hundred dollars of value (or part thereof) over $500.
Mortgage value Tax amount
$500 or less $100.00
greater than $500 $100.00 plus $0.40 for each additional one hundred dollars of value (or part thereof) over $500.

CMHC Insurance

If your mortgage is an insured mortgage, you'll need to pay for mortgage default insurance. This will normally be included as part of your mortgage, so you won't need to provide it in cash.

These are just some of the closing costs you’ll have to pay in St. John's. Learn more on our closing costs education centre page.

St. John's first-time home buyer rebates

Most of the first-time home buyer programs in Canada are administered at the provincial level, and typically involve a full or partial rebate of the province's land transfer tax. A rebate of this kind does not exist in Newfoundland. However, new home buyers in St. John's are eligible for first-time home buyer programs at the federal level, including:

  • RRSP Home Buyer’s Plan: This allows you to borrow up to $60,000 from your RRSP for your down payment. The money must be paid back within 15 years.
  • First-Time Home Buyer’s Tax Credit: This is a tax credit of up to $750, available when you file your taxes for the year in which you bought your first home.
  • GST/HST New Housing Rebate: If your home is newly built, it may be subject to GST or HST. This rebate gives you some or all of that tax back.

Each of these schemes has eligibility criteria and additional rules that apply, which you'll need to investigate further before you apply for them.

Jamie David, Director of Marketing and Head of Mortgages

Jamie has 15+ years of business and marketing experience. She contributes her mortgage expertise to The Globe and Mail and authors Ratehub’s mortgage and homebuying guides. read full bio

Want to learn more? Check out our comprehensive education centre

About Ratehub.ca

At Ratehub.ca, we have empowered millions of Canadians to make smarter financial decisions. Founded in 2010, we are Canada’s leading one-stop shop for mortgage rates, credit cards, insurance, personal loans, chequing and savings accounts, GICs, and investments. We are known for delivering unbeatable savings, selection, and service. 

We believe financial products should be easy to understand and personalized to your needs. That’s why we provide tools and expert resources — from Canada’s most-used mortgage calculators to educational articles with real-world insights. We compare the best rates and products in real time from leading banks, lenders, and insurers, so you can shop for all your personal finance needs in one place. And when you're ready, our award-winning brokerage teams are here to help you every step of the way.

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Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry-leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.

How are CanWise Financial and Ratehub.ca connected?

We own and operate a mortgage brokerage, Ratehub.ca (formerly known as CanWise Financial), and are compensated for mortgages funded through our brokerage. Ratehub Inc. o/a Ratehub.ca & CanWise is a licensed mortgage brokerage and CMHC-approved lender. When comparing mortgage rates on Ratehub.ca, you’ll see rates from a number of lenders, including CanWise. All products are sorted according to the rates available to you and the selection criteria you’ve shared with us. Both Ratehub.ca and CanWise are owned and operated by Ratehub Inc.

We’re proud of our Ratehub.ca mortgage brokerage, which offers our users great rates, trusted advice and an award-winning team of mortgage experts. Read any of our 6,700 five-star Google and Facebook reviews and you’ll see what we mean.

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