Newfoundland and Labrador Mortgage Calculator

?
Enter the amount that you are planning on paying for the property
Property Value
STEP 1
Enter property purchase price
Haven't found a property to purchase yet?
Option #1
Option #2
Option #3
Option #4
?
Enter the amount that you will pay upfront
toward the property to obtain a mortgage
Down Payment
?
CMHC mortgage insurance is required on all
mortgages with down payment less than 20%
Mortgage Insurance
+
$19,000
$13,950
$11,900
$0.00
?
Total mortgage amount is calculated by subtracting
the down payment from the property price and adding
CMHC mortgage insurance (if applicable)
Mortgage Required
=
$494,000
$463,950
$436,900
$400,000
?
Amortization period is length of time that it would take
the mortgage holder to pay off the mortgage in full
Amortization Period
?
Please select the province where you are planning
on taking out the mortgage, as mortgage rates can
vary in different provinces
Select Province
STEP 2
Select province to get current
mortgage rates
?
Mortgage type specifies whether the interest
rate is variable or fixed
Mortgage Type
?
Mortgage term is the duration of time that you
are committed to a lender, rate and conditions
Mortgage Term
?
Mortgage rate is the interest rate that you will
be paying on the outstanding balance for the
duration of the mortgage term
Mortgage Rate
Select
Select
Select
Select
STEP 3
Select one of the mortgage
rates currently available
?
Please select how often you would like
to make your mortgage payments.
Payment Frequency
?
Mortgage payment is the amount that you will be
required to pay based on your mortgage terms
Mortgage Payment
?
This is an estimate of how much you should expect
to spend upfront in order to make this purchase
Cash Needed
Down Payment
$25,000
$50,000
$75,000
$100,000
Mortgage Insurance PST
+
$0
$0
$0
$0
Lawyer Fee
+
$1,000
$1,000
$1,000
$1,000
Title Insurance
+
$500
$500
$500
$500
Land Transfer Tax
+
Total Cash Needed
=
$28,020*
$52,616*
$77,457*
$101,500*
* Plus Land Transfer Tax, please select Newfoundland and Labrador city to calculate Land Transfer Tax

Contact Us

First Name
Last Name
Email
Phone
Message (Optional)
OR CALL
1.877.896.6727

Newfoundland and Labrador Mortgage Calculator Examples

Why Settle For Ordinary .. When You Can Have Extrodinary ! This Immaculately Kept Home Is Going To Charm You .. Open Concept Living Room , Dining Area And Kitchen , Kitchen Has Loads Of Custom Cabinetry , Built In Ice Maker Fridge , Glass Top Range , Microwave And Dishwasher , Patio Doors Off Dining Area Lead To A Large Deck With Plenty Of Privacy , There's A Very Interesting See Through Propane Fireplace Between Dining Area And Living Room , 3 Large Bedrooms , Master Has Its Own Walk In Closet And Ensuite , Main 4 Piece. Bathroom And All Quality Floorings Throughout ; Downstairs Is Done To The Best As Well With A Huge 12.3 By 34.5 Family Room , Laundry Room With Washer And Dryer Included , Expertly Wired . There's Even A Separate Panel That Can Be Hooked Up To A Generator In The Event Of A Power Outage . The Garage Is Huge 24' By 30' With An Automatic Door Opener . Double Paved Driveway . Your Going To Just Love The " Park-Like Setting " With All The Sounds Of Nature .. And With Its Southern Exposure You Won't Miss Out On A Moment Of Sunshine . Lots Of Mature Tree's And Shrubs . One Of The Best Addresses In Town And The Perfect Spot For You ! (Id:23934)
CALL1.877.896.6727
Property Price
$355,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$17,750
Mortgage Insurance ($)
$13,490
Mortgage Required ($)
$350,740
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$384
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$19,634
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$19,634
Monthly Payment
$1,378
This Well Maintained 3 Bedroom, 1 Bath Bungalow With A Fully Completed Basement Is Located On A Large Lot With 2 Sheds And A Huge Paved Driveway. The Main Floor Is Features A Spacious Living Room With Pot Lighting, Dining Room With Garden Doors Leading To A 12 X 20 Back Deck, Lovely Kitchen, 2 Bedroom & Main Bath. The Basement Is Fully Finished With A Bedroom, Laundry, Storage, Den And A Huge Recreation Room. Upgrades Include 35Yr Shingles In 2014, New Kitchen Cabinets In 2013, Basement Refinished In 2015 And So Much More!! Fridge, Stove, Dishwasher & Microwave Included In The Sale. This Lovely Home Is Centrally Located And Walking Distance To Shopping And Close To All Other Amenities. Call Today To Book Your Appointment To View!! (Id:23934)
CALL1.877.896.6727
Property Price
$235,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$11,750
Mortgage Insurance ($)
$8,930
Mortgage Required ($)
$232,180
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$288
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$13,538
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$13,538
Monthly Payment
$912
Well Cared For 2-Apartment Home In A Convenient Location Just Off Balbo Drive. Currently Fully Rented If You Are Looking For A Great Investment Property Or Take Advantage Of The Low Interest Rates And Live On The Main For Less Then $300 / Month Plus Property Taxes With The Income From The Apartment. Apartment Is Fully Equipped With All The Appliances Including The Washer And Dryer. Oak Kitchen Cabinets, Separate Dining Room, Three Bedrooms On The Main Including A Master Ensuite. Great Buy At This Price! (Id:23934)
CALL1.877.896.6727
Property Price
$189,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$9,495
Mortgage Insurance ($)
$7,216
Mortgage Required ($)
$187,621
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$252
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$11,247
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$11,247
Monthly Payment
$737
Welcome To 7 Winsor Place, Mount Pearl. This Beautiful Semi Detached Property Sits On A Child Safe Cul-De-Sac Close To All Amenities In A Very Quiet Area Of Mount Pearl. With Every Inch Of This Spacious Unit Utilized Its The Perfect Family Home Or A Great Place For Couples Or Singles. The Large Eat-In Kitchen Features Updated Cabinets With A Backsplash Leading To The Beautiful Backyard With Mature Trees And A Great Sized Deck With Storage Shed. The Second Level Features 3 Good Sized Rooms And A Bathroom. Enjoy The Propane Fireplace In Your Large Recreation Room With A Half Bath. This Place Has Something For Everyone! Call Today For Your Private Viewing.... (Id:23934)
CALL1.877.896.6727
Property Price
$209,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$10,495
Mortgage Insurance ($)
$7,976
Mortgage Required ($)
$207,381
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$268
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$12,263
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$12,263
Monthly Payment
$814
Investors! This Beautiful 2 Bedroom Apartment Home Is A Must See! 129 Rowsell Blvd Is Situated On A Huge Corner Lot With Two Separate Driveways And A Detached Garage In A Quiet Partially Of Town. The Rear Yard Is Massive And Totally Fenced - An Absolute Must For Anyone With Kids Or Pets. The Main Floor Has An Open Concept Kitchen / Living / Dining Area Offering Terrific Natural Light And An Abundance Of Space. This Spacious Open Concept Design Of This Home Makes For A Fabulous Area To Entertain Guests With Easy Access To The Back Deck For An Evening Barbeque. Down The Hall There Is A Full Bathroom And Three Bedrooms Which Includes The Master With An Ensuite. Finally, Downstairs Offers A Nice Recreation Room Area And Big Laundry / Storage Room. The 2 Bedroom Apartment Is Also Very Roomy With Two Spacious Bedrooms. What A Great Opportunity To Own A Fantastic Cash Flowing Investment Property With Clean, Tidy, And Reliable Long Term Tenants Already In Place In The Apartment. This Is The Perfect Home For Any First Time Home Buyers Who Want Half Their Mortgage Paid! (Id:23934)
CALL1.877.896.6727
Property Price
$359,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$17,950
Mortgage Insurance ($)
$13,642
Mortgage Required ($)
$354,692
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$387
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$19,837
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$19,837
Monthly Payment
$1,393

Mortgages In Newfoundland and Labrador

Interestingly unique... that about sums up a description of the people, housing, employment and 'traditions' of Newfoundland and Labrador. This province is the perfect place to hang your hat & plant long term roots if you love the wintertime weather, relish in seafood, enjoy the thoughts of lingering with neighbours who have countless stories to tell, and homes painted in splashes of various colours. Not to mention the rich history, the thick local accents, the traditions that involve screech & kissing a cod and living on what is basically a large rock that is scenically beautiful, edging the Atlantic Ocean. The housing stock here is a vast mixture of small cabins and scale all the way up to large multi-level homes, apartment-like lofts, duplexes, bungalows, log homes, 'unique' customized houses and single family homes. When this province is the target area and a new home search via the MLS is at hand, then home buyers can use the Newfoundland and Labrador mortgage calculator to assist in establishing the parameters of affordability. Analyzing existing mortgage products and flushing the 'numbers' through a mortgage calculator is a great way for buyers to be more prepared before talking to any mortgage loan institution like a credit union, major bank, or mortgage company.
The friendly locals in Newfoundland and Labrador are very welcoming of new residents, so just another perk to investing in a home here. A mortgage calculator is an easy way to discover how much a home would cost (with interest) each month, which is a general figure to reference. The type of mortgage that a home buyer chooses, and the anticipated interest rate are just two of the questions that buyers will face, but there are plenty more. Some key bits of information about mortgage types is understanding how basic mortgages work, such as knowing how long the loan will be taken on for (number of years), how often payments will be made each month (bi-weekly or once a month), the interest type (variable rate, fixed rate, adjustable rate, etc.), and the start date. The best way forward is to know that the shorter the life of the mortgage loan and the mortgage product type can add up together to offer buyers serious savings. The lengthier the loan is in years; the more interest payments will be made with the potential for the interest rate to fluctuate up or down. Yes, some mortgage products can be locked in for a certain term at a certain interest rate percentage like a fixed rate mortgage, but a variable rate mortgage and an adjustable rate mortgage are subject to the movement of the prime rate.
Obtaining a mortgage loan for a home in Newfoundland and Labrador depends on the home buyer (financials) and the home itself (value, location and ability to resale if the mortgage loan goes into default). When home buyers understand where their level of affordability is realistically (achieved through using a mortgage calculator), then it makes searching for the right home and the right mortgage much easier. The lender that a buyer wants to approach for their mortgage loan will perform a series of background checks (credit rating, verify stability of income, ascertain the value of the home & any down payment available from the borrower, all outstanding debts, owned assets, and so on). Things go more smoothly when a home buyer is prepared upfront financially to take on the ongoing expenses of purchasing and maintaining a home. If a home buyer is lacking (no down payment, has not saved any money for closing costs & utility hook up, has multiple debts, no owned assets, and a poor credit rating) then most mortgage lenders will not approve a mortgage loan application. Even alternate lenders (mortgage company, private lenders & trust companies) have some criteria that must be met before loaning out large sums of money.