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Newfoundland Mortgages

Newfoundland Rates

We shop the most competitive brokers, lenders and banks in Canada to bring you today's lowest interest rates, free of charge! Our Canadian comparison charts list current rates, and are updated on a daily basis.

Term Lowest Fixed Rate Lowest Variable Rate
1-Year 1.74%
3-Year 1.59% 2.45%
5-Year 1.44% 0.99%
10-Year 2.14%
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Newfoundland charges a small land transfer tax as follows:

Tax amount
On the property value $100 + $0.40 for each additional $100 of value or part thereof over $500

On the mortgage amount

$100 + $0.40 for each additional $100 of value or part thereof over $500

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Mortgage default insurance or CMHC insurance is required in Canada for down payments of less than 20%.

Down payment (% of home)
5%-9.99% 10%-14.99% 15-19.99% 20% or higher
CMHC insurance premium 2.75% 2.00% 1.75% 0.00%

Additional criteria as of July 9th, 2012:

  • The maximum amortization available on an insured mortgage (less than 20% down) is 25 years.
  • Homes sold for more than $1,000,000 do not qualify for CMHC insurance and, therefore, require a down payment of at least 20%.

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Newfoundland Mortgage Calculators

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Newfoundland First Time Home Buyer Freebies

  • First time home buyer Tax Credit

    Get $750 dollars back on your personal tax return.

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  • RRSP Home buyers Plan

    Access up to $25,000 from
    your RRSP tax-free.

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Newfoundland Blog Articles

Deal Alert: Earn big rewards on household essentials for the entire family during PC Optimum Points Days [Jan 28 – Feb 3]

January 27, 2021

This post was sponsored by Loblaws Inc.. The views and opinions expressed in this blog, however, are my own. Loblaws Inc. is not responsible for maintaining or monitoring the accuracy of information on this website. PC Optimum Points Days 2021 … Continue reading →

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How tenant insurance helps landlords lower their risk

January 26, 2021

This article is sponsored by Duuo As a property manager, you want to create the best living space possible for your tenants. That includes a clean and well-maintained building, regular fire inspections, and meeting or exceeding safety standards. For tenants, … Continue reading →

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