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

Welcome To Lovely Executive Home Nestled In The Heart Of Clarenville! This Captivating Single-Family Home Is Conveniently Situated Within Walking Of All Amenities. With Four Generously Sized Bedrooms On The Upper Level, Each Featuring Oversized Closets, And A Bedroom Downstairs Along With Two Bonus Rooms, This Home Offers Ample Space For Your Family's Needs. With Two Full Bathrooms, Everyone Can Enjoy Their Own Space. As You Step Inside, Beautiful Hardwood Floors Throughout The Upper Level Create An Elegant Touch To The Living Area. The Cozy Fireplace Adds Warmth And Charm To The Home, Making It Perfect For Creating Lasting Memories With Loved Ones. The Modern Kitchen Is Fully Equipped With Brand-New Appliances, Including A Microwave And Stove, Making Meal Preparation A Breeze. This Home Offers Plenty Of Storage Space, Including The Basement, Where You'll Find A Spare Room, Two Bonus Rooms, And A Large Family Room With Another Cozy Fireplace. The Basement Offers Endless Potential For Additional Living Areas, Storage, And More. With An Expansive 3900 Square Feet Of Living Space, This Home Has Plenty Of Room For Everyone To Relax And Unwind. The Attached 1 Car Garage Provides Convenient Access To The House, While The Fully Fenced Yard Is Perfect For Children And Pets To Play Safely. The Added Bonus Of A Generator Hookup Ensures Peace Of Mind During Power Outages. Entertaining Is Made Effortless With An Open-Concept Kitchen, Dining Room, And A Large Living Room On The Upper Level. With Plenty Of Space Downstairs, Hosting Family Gatherings Or Enjoying A Cozy Night In Has Never Been Easier. Not Only Does This Stunning Executive Home Offer Ample Space And Modern Amenities, But It Also Boasts Breathtaking Views Of The Town And Ocean From Its Elevated Location. Enjoy The Beauty Of Your Surroundings From The Comfort Of Your Own Home! Don't Let This Opportunity Pass You By! (Id:23934)
CALL1.877.896.6727
Property Price
$414,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$20,745
Mortgage Insurance ($)
$15,766
Mortgage Required ($)
$409,921
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$432
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$22,677
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$22,677
Monthly Payment
$2,347
Situated In The Center Of Bay Roberts On An Oversized Lot Is This 3 Bedroom Home That Has An Ocean View From The Front Of The Property And From The Back Of The Property. This Home Has A Lovely Covered Porch Where You Can Take In The View And The Beautiful Scenery. The Home Includes A Primary Bedroom With A 3Pc Ensuite Bath. The Other Two Bedrooms Are Quite Spacious And In The Hallway Is A 3Pc Main Bath. The Kitchen Has Oak Cabinets That Are In Great Shape And The Kitchen Is An Eat In Design. The Living Room Is A Great Place To Sit And Enjoy The Views. There Is A Family Room Off The Kitchen To Relax And Enjoy The View On Back Of The Home. The Basement Is Partially Developed With A Large Recreation Room And Laundry Area. The Remainder Of The Basement Is Undeveloped And Awaiting Its New Owners Ideas. This Lot Is Big Enough If One Wants To Sell A Portion To Recoup Some Costs. Storage Shed Is Not Included. (Id:23934)
CALL1.877.896.6727
Property Price
$329,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$16,495
Mortgage Insurance ($)
$12,536
Mortgage Required ($)
$325,941
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$364
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$18,359
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$18,359
Monthly Payment
$1,866
Executive Living Without The Price Tag. This Modest 2800 Square Foot Home Offers Great Features That You Don't Find Often In This Area. This Semi-Detached Home Has A Extra Large Paved Driveway To Fit Nine Cars. A Double Detached, Wired, Insulated And Heated Garage Is Perfect For Parking In The Winter Months. There Are Two Storage Sheds In The Back Fenced Yard. There Is An Above Ground 12 X 24 Foot Pool With A Deck Fenced Deck Surrounding It, Plus Space In The Rest Of The Back Yard For Kids To Play, Set A Garden, Have A Nice Fire Pit Area Etc. There Is Also An Added Patio That Comes With Sides To Close It In, For Winter Use...You Can Barbeque All Year Round. The Mud Room Just Off The Drive Way Is Used Mostly And Has Lots Of Room For Shoes And Coats Etc. The Eat-In Kitchen Has Tons Of Cupboards With Chorion Countertops, Double Vent Hoods For Over The Range Cooking And For Insta-Pots Or Deep Fryers Sitting Next To The Stove. Stainless Steel Appliances With The White Cabinets Gives You A Modern Look. There Is A Large Dining Room For Your Formal Dinner Parties And Entertaining Etc. The Living Room Comes With A Built-In Electric Fireplace, And A Bar Area Next To The Back Door Leading Out Onto The Covered Patio. This Home Boasts Large Window Up And Down To Bring In Lots Of Natural Sunlight. Upstairs We Have A Modest Bedroom, A Very Large Bedroom With An Office Area, Great For A Student And A Full Bathroom, Plus The Primary Bedroom Has A Bonus, Double Closets, Sauna And A Whirlpool Soaker Bathtub, Great For Relaxing And Soaking At The End Of The Day. The Basement Has A Games Room, Perfect For Watching Moves Or Playing Video Games Or Set Up For A Play Room For Smaller Kids. The Next Area Is An Office / Workout Room, Then You Have A Large Laundry Room With A Double Laundry Tub With A Workshop Area Off To The Right. Between The Two Homes Is A Shared Utility Room With The Electrical Hot Water Tanks And Heating Systems With Another Access To The Outside. (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 (%)
4.84%
Mortgage Type
5 Years Fixed
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
$2,031
Located In The Stunning Development Of Grenfell Estates Subdivision, This Home Is An Absolute Show Stopper From The Minute You Pull Into The Driveway. The Stunning Curb Appeal Of The Home Combined With A Deep Lot That Is Fully Landscaped, And Has An Abundance Of Parking, Is Merely The Beginning Of The Amazing Features You Will Notice. Once You Make Your Way Through The Stunning Curved Archway And Past The Entrance You Will Be Greeted With One Of The Nicest Open Concept Designs You Will Ever See. The Stunning Custom Kitchen With Modern Colors And Decor Is A Show Stopper, And The Ability To Entertain In The Open Ktichen / Dining / Living Room Area Is Second To None. Love Keeping An Eye On The Kids During Meal Prep Time? This Layout Is Ideal! You Will Notice High End Finishes, Stainless Appliances And Touches Like The Mini Split Heat Pump That Top The List Of Must Haves In Any Executive Home. The Man Features 3 Bedrooms With The Master Having A Nice Walk-In Closet & Ensuite Bathroom With Double Vanity Plus Large Shower With Seat. There Is A Super Convenient Jack-&-Jill Styled Full Bathroom With Double Vanity Between The Spare Bedrooms As Well! Basement Features A Terrific Sized Family Room With A Cozy Wood Burning Stove To Add That Cozy Feel And To Also Cut Down On Heating Costs. An Additional 2 Bedrooms And Full Bathroom With Corner Shower, An Office And Additional Storage Areas Complete The Stunning Basement! Miss Spotting The Laundry Area? That Is Conveniently Located On The Main Floor So Laundry Life's A Breeze. The Rear Of The Home With The Oversized Deck Area Is The Perfect Setting To Unwind And Having A Detached Garage Measuring 26'X 36', Completely Finished With 10' Ceilings Plus A Wood Burning Furnace Completely Takes The Cake On The Perfect Home. We Cannot Do This Home Justice In A Simple Description.. (Id:23934)
CALL1.877.896.6727
Property Price
$489,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$24,495
Mortgage Insurance ($)
$18,616
Mortgage Required ($)
$484,021
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$492
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$26,487
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$26,487
Monthly Payment
$2,771
Welcome To 39 Avery Place In Parkdale Ridge Located In A Lovely Setting Off Park Avenue In Mount Pearl. This 50+ Bungalow Style Condominium Shows True Pride Of Ownership And Features Two Spacious Bedrooms With An En-Suite Off Of The Primary And Walk In Closet, A Large Kitchen, Dining And Living Room, Laundry Room And A Full Bathroom. Downstairs There Is An Oversized Bedroom With A Large 3 Piece En-Suite Wit Stand Up Shower. Crown Moldings And Headers Throughout, With Laminate Flooring And Vinyl In Wet Areas. This Condo Is Located On A Quiet Street, Close To All Amenities, Walking Trails And Parks, And Backs On A Greenbelt. All The Benefits Here Of Your Own Home, And The Convenience Of Condominium Services. Condo Fee $300 / Month. This Home Is Vacant And Ready For Immediate Posession. This Is An Estate Sale, The Property Will Be Sold "As Is, Where Is" With All Appliances Included. No Pcds Provided. (Id:23934)
CALL1.877.896.6727
Property Price
$379,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$18,995
Mortgage Insurance ($)
$14,436
Mortgage Required ($)
$375,341
Best Mortgage Rate (%)
4.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$404
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$20,899
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$20,899
Monthly Payment
$2,149

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.