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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 2.82%
3-Year 2.69% 3.95%
5-Year 2.59% 2.80%
10-Year 2.99%
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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

Maxed out your RRSP & TFSA? Try HISAs & GICs

July 15, 2019

When your TFSA and RRSP are maxed out and you’re looking to avoid penalties, try two trusty non-registered savings vehicles: high-interest savings accounts and guaranteed investment certificates (GICs). These savings tools don’t have any contribution limits or penalties. And they can help you keep your money safely saved while you wait for more contribution room to open up in your TFSA and RRSP on January 1st. Continue reading →

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The Dos and Don’ts of Getting a Mortgage Pre-Approval

July 14, 2019

Becoming a homeowner is a life-long dream for many Canadians but as with all new experiences, there’ll be uncertainty and you may even second guess yourself once or twice. You’ll be interviewing realtors, looking at homes, worrying about bidding wars, … Continue reading →

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