Nova Scotia 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 Nova Scotia city to calculate Land Transfer Tax

Contact Us

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

Nova Scotia Mortgage Calculator Examples

Buying Your First Home? Downsizing? Or, Looking For The Perfect Investment Property? This Is The One! This 3 Bedroom, 3 Level Townhouse Located In A Quiet And Established Neighbourhood In Clayton Park, Is Ready For You. This Home Features A Main Level Spacious Living Area With Hardwood Floors, A Large Kitchen With Plenty Of Counter Space And Is Complete With A Half-Bath. 3 Generous Sized Bedrooms And A Full Bath On The Upper Level, A Flex Room And Separate Laundry Room On The Lower Level. A Gorgeous, Private Fenced Back Deck That Is Perfect For Kids And Pets Completes This Perfect Space. This Block Of 4 Townhomes Shows Beautifully With Meticulously Kept Landscaping, Surrounded By Mature Trees. A Salt Water Heated Pool And A Playground Are Only Steps Away. Transit, Schools, Walking And Biking Trails, Soccer Fields, Groceries And A Library All Are Within Walking Distance. Everything That You Could Want, In A Fabulous Neighbourhood, Is Here! (Id:23934)
CALL1.877.896.6727
Property Price
$240,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$12,000
Mortgage Insurance ($)
$9,120
Mortgage Required ($)
$237,120
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$3,600
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$17,100
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$17,100
Monthly Payment
$931
One Level Living At Its Finest With A Secondary Suite - Located In The Sought After Fall River Community. 3600 Square Ft Bungalow With Attached Double Car Garage- Displaying Pride Of Ownership And Lovely Curb Appeal. As Soon As You Walk In, You Will Be Greeted By The Spacious And Bright Foyer. To The Right Of The Foyer Is A Large Formal Dining Room. From There You Will Find A Your Updated Kitchen Boasting Tons Of Cabinet Space / Black Stainless Appliances/ Quartz Counter Tops And Glass Subway Tiled Backsplash. Large Eating Area And A Great Family Room With A 3 Sided Propane Fireplace And Doors To The Large L Shaped Deck With A Powered Awning. Down The Hall Is Your Large Master With En-Suite Boasting An Air Jet Tub And Vanity With Makeup Counter. Another Large Bedroom & Main Bath On This Level As Well. Oak Staircase Leads You To The Lower Level With An Amazing Family Room With Walk Out And Games Area Along With Storage, 2 Large Bedrooms And A Full Bath. Great In Law Potential On This Level As Well With Kitchen Area And Lots Of Windows Making The Space Bright And Sunny! Large Attached Garage Has Two Unique Entrances To The House With One To The Kitchen And One To The Oak Staircase Leading To The Downstairs. Professionally Painted Through-Out. This Home Is A Must See!! (Id:23934)
CALL1.877.896.6727
Property Price
$598,900
Minimum Down Payment (%)
5.83%
Minimum Down Payment ($)
$34,890
Mortgage Insurance ($)
$22,560
Mortgage Required ($)
$586,570
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$0
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$36,390
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$36,390
Monthly Payment
$2,304
Located Just Steps From The Kentville Park With Tennis Courts, Swimming Pool, Baseball Diamonds And Play Park, This Home Needs Some Tlc To Bring It Back To Its Full Potential. Four Bedrooms Upstairs With A 3 Piece Bath Upstairs And The Main Floor Has An Eat In Kitchen, Main Floor Laundry, Separate Dining Room And A Large Living Room. Also On This Floor Is A 5Th Bedroom With A 3Pc Bath Included In The Dimensions Of The Room. Lower Level Has A Family Room, Storage And Utility Room. This Home Has Very Good Bones And Hardwood Floors On The Main And Second Levels Under The Carpets. Hot Water Heater And Oil Tank Are Both 2017. New Yorker Furnace. Fireplace Has Not Been Used For Many Years. (Id:23934)
CALL1.877.896.6727
Property Price
$159,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$7,995
Mortgage Insurance ($)
$6,076
Mortgage Required ($)
$157,981
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$0
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$9,495
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$9,495
Monthly Payment
$620
Looking To Add To You Investment Portfolio Or Rental Income To Supplement Your Mortgage, Here Is All Is! The Main Level Offers, 2 Bedrooms, Kitchen, Dining, Living And Bathroom. The Upper Level Has A Main Bedroom, A Den / Small Bedroom, Living, Kitchen And Dining Room. The Basement Has Tons Of Storage, Workshop Area, Laundry And Half Bath. Numerous Upgrades Carried Out; Roof Shingles 7-8 Yrs, Fibreglass Oil Tank 2010 And Windows / Doors 5-6Yrs. All This And Original Hardwood Floors Through Most Of The 2 Units, Large Bright Kitchens, Decks For Both Levels, Partially Fenced Yard, Shed And Paved Parking Space. (Id:23934)
CALL1.877.896.6727
Property Price
$240,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$12,000
Mortgage Insurance ($)
$9,120
Mortgage Required ($)
$237,120
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$3,600
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$17,100
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$17,100
Monthly Payment
$931
Ocean View And Immediate Occupancy! This Like New Home Is Directly Across The Street From The Atlantic Ocean With Its Awesome View And Sounds Of Waves Crashing On The Shore Below!! The Main Floor Has An Open Concept Kitchen / Dining / Living Plus 2 Bedrooms And A Full Bath. The 2Nd Floor Contains The Large Primary 205 Square. Ft. Bedroom With Its Own Full Bath. The Basement Is Also Fully Developed With A Recreation Room, Huge Laundry Room, A 3-Piece Bath And A Den Or Office (Was Used As A Bedroom). A 28 X 26 2 Door / 2 Car Garage With A Full 28 X 18 Loft With It's Own New Outside Entrance That Could Easily Be Developed Into The Best Man / Woman Cave In Town!! (Id:23934)
CALL1.877.896.6727
Property Price
$295,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$14,750
Mortgage Insurance ($)
$11,210
Mortgage Required ($)
$291,460
Best Mortgage Rate (%)
1.35%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$4,425
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$20,675
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$20,675
Monthly Payment
$1,145

Mortgages In Nova Scotia

The nicely balanced lifestyle that Nova Scotia provides is what attracts home buyers to plant roots here. This is about the only province in Canada that can offer coastal, rural, and urban living environments, with a short drive connecting all three! The Bay of Fundy is a natural draw for its beauty and fishing industry. There are places within this province that offer farm or forested environments, which is perfect for people that want a more rural lifestyle. There is also the urbanistic hub of the city of Halifax & Dartmouth, which is overflowing with amenities and opportunities. No matter where in this province you choose to invest in a new home or build your ideal home, you will find the residents friendly within many communities and will be a short commute to any point in this province. A mortgage loan is the usual way that home buyers secure the funding to build or buy their new home and to get started, so why not give the Nova Scotia mortgage calculator a try? Spotting a great property that seems affordable can be confirmed with a mortgage calculator, which calculates the principal amount of the loan with the interest rate, the length of time the loan will be taken out for, the start date, the payment frequency, and the rate type.
The rate type refers to the type of mortgage product that you will end up deciding on to dictate how your mortgage loan for your home in Nova Scotia will perform. By utilizing a basic mortgage calculator, you may have already noticed that the type of mortgage product can drastically change the way your loan unfolds over a period of years. You may already know about different mortgage types, like an open or closed mortgage, a fixed rate mortgage, a hybrid mortgage, an adjustable rate mortgage, or a variable rate mortgage (if you do not, then it is a wise idea to know about the different kinds of mortgages before trying to sit down with any lender). Some home buyers want their mortgage loans to run at a steady pace without any surprises (a fixed rate mortgage), and some people want the opportunity for their interest rate to possibly go lower by keeping pace with the prime rate (a variable rate or adjustable rate mortgage). Some lenders may offer you a hybrid mortgage, which basically uses the variable rate and the fixed rate mortgages combined. If you have managed to save at least 20% of the value of the home that you wish to buy, then you have a down payment and may be offered a conventional mortgage.
Nova Scotia is an explorable and enjoyable province with plenty of options for indoor and outdoor activities. You may feel ready (after using a mortgage calculator) to talk to lenders to see who will offer you the best deal, but are you really prepared to take this big leap into home ownership? Many people do not proactively do their research, save money, or even take concern over their credit ratings due to debts and possibly do not have longevity at their place of employment. Securing a loan large enough to buy a home is not like renting an apartment each month; there is a substantial difference between the two. Home ownership means having enough income each month & annually to not only cover a mortgage loan and the interest that gets tacked onto it, but there are more utilities (septic, water & land taxes if applicable and regular utilities like hydro, which costs more for a house) and potential expenses like maintenance, repairs or renovations. A mortgage broker is a great and reliable source that can help home buyers with mortgage expertise, access to a variety of lenders and know-how on getting the best mortgage product that suits your financial situation, with the ability to tweak it.