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Nunavut Mortgage Payment Calculator

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Nunavut mortgage guide

Looking to get a mortgage in Nunavut? Using a mortgage calculator to determine what your payments will look like – and your overall affordability for your home purchase — is a great first step. Using the calculator on this page will help you determine your monthly payments and total interest fees. You can also explore how these payments would change if you purchased a different-priced home, and reduced or expanded the size of your mortgage.

It’s important to factor in various taxes, fees, and regulations specific to your region when calculating your mortgage. While some of these are consistent across Canada, others can vary depending on your province.

Nunavut is Canada’s largest province and territory by land mass, and is home to approximately 39,000 people. Here's what borrowers should know if they’re considering purchasing a property in Nunavut.

Nunavut mortgage regulations, taxes, and fees

In Nunavut, purchasers are responsible for getting Nunavut mortgage rates. Unlike most other Canadian provinces, there is no territorial sales tax in Nunavut, but there is the federal GST. While these taxes don’t apply to resale home purchases, those purchasing brand-new condo units or houses in Nunavut will need to pay GST.

There is no land transfer tax in Nunavut, but the territory does charge a registration fee that is based on the value of the property:

  • For properties valued at less than $1 million: $1.50 per every $1,000, with a minimum fee of $60.
  • For properties valued at over $1 million: $1,500 plus $1 for every $1,000.

Mortgage rates in Nunavut 

Mortgage rates in Nunavut can vary depending on the lender and mortgage broker. Find the best rate for you by checking out’s comprehensive page of the best mortgage rates in Nunavut. The best options are already included on the calculator on this page, so you can crunch the numbers with peace of mind.

Nunavut sales tax on mortgage default insurance

When applicable, the cost of mortgage default insurance, often called CMHC insurance, is added to your mortgage balance and paid off over the amortization of your mortgage. As Nunavut does not have an additional provincial sales tax, borrowers are not charged PST on their mortgage default insurance at the time of closing.

Other Nunavut closing costs

Closing costs are an important consideration when purchasing a property, as they must be paid in cash before the transaction is complete. Nunavut closing costs include:

  • Legal fees: Buyers will need to retain the services of a real estate lawyer when purchasing a home; this professional will be responsible for reviewing all of the required paperwork, as well as help finalize the transaction.
  • Home inspections: It’s wise to use a home inspector before purchasing a home to make sure the home you’re about to buy is in good condition.

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