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

Welcome To 224 Herring Cove Rd In The Heart Of Spryfield. This Split Entry Has 3 Bedrooms Plus Den And 1 & A Half Baths. Featuring A Cozy Open Floor Plan On The Main Level With A Bedroom & A Fresh New Half Bath. You Will Love All Of The Counter & Cupboard Space In This Updated Kitchen Which Opens To A Sunny Dining-Living Room Combo. Downstairs There Are Two More Good Sized Bedrooms, A Den And Full Bath. All Of The Hard Work Is Done. New Front Step, New Back Deck, New Front Door (On Order), Updated Kitchen, Updated Baths, Laminate Flooring Throughout And Freshly Painted. All Of This On An Almost 10,000 Square Foot Lot. Zoned R2-P. Call To View! (Id:23934)
CALL1.877.896.6727
Property Price
$299,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$14,950
Mortgage Insurance ($)
$11,362
Mortgage Required ($)
$295,412
Best Mortgage Rate (%)
1.59%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$0
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$16,450
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$16,450
Monthly Payment
$1,193
This Truly Immaculate 3 Bedroom Split Level Home Is Nestled Perfectly On A Gorgeous Lot In The Desirable And Family-Friendly Maplewood Subdivision. Boasting A Peaceful And Private Country-Like Atmosphere While Only Being 20 Mins From The City With All The Amenities You Can Imagine And A Playground Just A Short Distance Away. Glide From The Sun-Filled Living Room To The Pristine Kitchen On Your Way To The Newly Built 2-Tier Back Deck And Fix Your Gaze On The Frequent Deer Prancing Through The Backyard. Ample Gardening And Outdoor Entertaining Space Awaits You. You'll Be Smitten With The Two Generously Sized Bedrooms On The Upper Level. Get Cozy In Front Of The Certified Wood Stove (2019) In The Spacious Lower Level Recreation Room. An Additional Large Bedroom, Bathroom With Shower, And Mudroom With A Walkout Can Also Be Found On The Lower Level. You'll Be Proud To Call 62 Norman Home! Roof (2006), Septic Field (2016), Back Deck (2019), Heat Pump (2020), Flooring (2007, 2018, 2019), And 4,000 Square Ft Of Back Lawn Cleared & Landscaped (2020). (Id:23934)
CALL1.877.896.6727
Property Price
$349,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$17,495
Mortgage Insurance ($)
$13,296
Mortgage Required ($)
$345,701
Best Mortgage Rate (%)
1.59%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$0
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$18,995
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$18,995
Monthly Payment
$1,396
Gorgeous Energy Efficient 4 Bed 3 Bath Semi-Detached Home In Sought After White Estates. Enter This Stunning Home Through The Large Foyer And You Are Sure To Be Impressed. Main Level Features Open Concept Kitchen / Dining / Living Room. Also On The Main Level Is The Master Bed With Large Walk In Closet And Ensuite, Second Bed And Half Bath. Spacious Laundry Room And Access To The Attached Wired And Heated Garage Are Off Of Foyer. Upstairs Features Two More Large Bedrooms, Huge Storage Closet, Third Full Bath And Bonus Room That Would Make A Great Play Area, Office Or Den. Located In A Family Friendly Neighbourhood This Beautiful Home Is Only 10 Years Old And Requires Nothing. Built To Perfection This Icf (Insulating Concrete Forms) Home Is Not Only Energy-Efficient But Also Provides Excellent Environmental Quality, Disaster-Resistance (Fire Rating) And Much Quieter Then Your Regular Wood Framed Home. Dont Wait To Book Your Private Showing. Call Now! (Id:23934)
CALL1.877.896.6727
Property Price
$349,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$17,495
Mortgage Insurance ($)
$13,296
Mortgage Required ($)
$345,701
Best Mortgage Rate (%)
1.59%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$0
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$18,995
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$18,995
Monthly Payment
$1,396
There Are Endless Ways To Enjoy This Beautiful Home~ The Current Set Up To This 4 Bedroom, 2 Bath Home On A Large Corner Lot In Town, Includes An In-Law Suite And 1 Bedroom Apartment. However, If You Wish You Can Keep It As A Full Rental Property Or Open It Fully Up And Have A Spacious 5-Bedroom Home With Recreation / Room And Home Office! The Main House Has Had Lots Of Updates Over The Past Several Years. The Grand Foyer Upon Entering The Home Leads You To A Bright Open Living Room, Dining Room, Sunroom, And Fully Updated Kitchen. The 2Nd Level Is Where You Will Find 4 Bedrooms, Main Bath, Ensuite And Walk-In Closet. Tons Of Storage And Each Room Is Generous In Size. The In-Law Suite Is Accessible In The Back Of The House And The 1-Bedroom Apartment On The Side. Each Entrance Has Their Own Driveway. A Total Of 6 Bedrooms And 4 Baths Throughout The House. The Location Is A Quiet Sub-Division, Close To All Town Amenities, The Park, Walking Trails And Outdoor Pool. The Back Yard Space Is Mature With Lovely Gardens And Shrubs. (Id:23934)
CALL1.877.896.6727
Property Price
$349,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$17,495
Mortgage Insurance ($)
$13,296
Mortgage Required ($)
$345,701
Best Mortgage Rate (%)
1.59%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$5,249
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$24,244
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$24,244
Monthly Payment
$1,396
Beautiful Semi Detached Home In Sought After Cole Harbour Neighbourhood! This Home Offers Great Space For The Entire Family Including An In-Law Suite In The Basement Perfect For A Parent Or An Older Teen. From The Covered Porch To The Living Room, Dining Room, Kitchen And Powder Room Showcasing An Open Concept That Will Surely Delight. Upstairs There Are Three Great Sized Bedrooms And A Full Bath. Lower Level Has A Walkout With Its Own Entrance To The In-Law Suite. Shared Laundry Makes This Home So Convenient! Large Shed In The Fenced Backyard And Paved Double Driveway Are Definite Pluses To This Special Home. Come Take A Look, You Will Want To Stay! (Id:23934)
CALL1.877.896.6727
Property Price
$275,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$13,750
Mortgage Insurance ($)
$10,450
Mortgage Required ($)
$271,700
Best Mortgage Rate (%)
1.59%
Mortgage Type
3 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$0
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$15,250
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$15,250
Monthly Payment
$1,097

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.