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

Location! Location! If You Are Looking For That Perfect Starter Home Or Downsizing This Bungalow With A Fenced Yard, 2 Driveways And Large Backyard Is One You Want To See. This Home Features A Large, Bright Living Room With Hardwood Floors, 2 Good Size Bedrooms, Extra Large Bath With Jacuzzi Tub, Galley Style Kitchen With Birch Cabinets And Stainless Steel Appliances. The Lower Level Features A 3Rd Bedroom 3 Piece Bath, Recreation Room, Utility / Workshop. This Home Is Ready For New Owners! Being Sold "As Is, Where Is", Owners Have Never Lived In The Home. Close To All Amenities, Walking Distance To Shopping, Medical Clinics, Dentists, Schools And Churches. Also On A Bus Route. (Id:23934)
CALL1.877.896.6727
Property Price
$249,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$12,495
Mortgage Insurance ($)
$9,496
Mortgage Required ($)
$246,901
Best Mortgage Rate (%)
1.54%
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
$13,995
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$13,995
Monthly Payment
$992
For More Information About This Listing, Please Click The View Listing On Realtor Website Link, Or The Brochure Button Below. If You Are On The Realtor App, Please Click The "More Information" Button. Handsome Georgian Town Home Circa 1870, One Of Those Properties That Makes You Turn Your Head For A Second Look. Well Maintained And Updated Character Home With High Ceilings, Crown Mouldings, And Hardwood Floors. The Main Level Has A Well Appointed Living Room Open To The Dining Area As Well As A Fully Updated Kitchen And With Access To The Back Deck. The Second Level Is Bright And Spacious With 3 Bedrooms, A Full Bath, And Lots Of Natural Light. The Lower Level Is A Pleasant Surprise With Higher Ceilings Than Normal, A Large Family Room With A Gas Fireplace, Half Bath, Lots Of Storage, And A Walkout To The Backyard. One Parking Space In The Back. This Is A Prime Halifax Location Within Walking Distance To Everything - The Spring Garden Area, Some Of The Finest Shops And Restaurants, The Halifax Central Library, The Public Gardens, Parks, All Hospitals On The Peninsula, Dal,Smu, Kings, And A Few Blocks From The Waterfront. (Id:23934)
CALL1.877.896.6727
Property Price
$710,000
Minimum Down Payment (%)
6.48%
Minimum Down Payment ($)
$46,000
Mortgage Insurance ($)
$26,560
Mortgage Required ($)
$690,560
Best Mortgage Rate (%)
1.54%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$10,650
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$58,150
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$58,150
Monthly Payment
$2,773
Completely Renovated Mini Home On Green Belt! This Beautifully Finished Mini Home Features A Spacious And Coveted Open Concept Living, Dining And Kitchen Area, Three Bedrooms And One Bath. Nothing Has Gone Untouched In This Home, Renovations Include; All New Windows, Exterior Vinyl Siding, 2 New Decks, Drywall Ceilings, All New Lighting, New Kitchen, Brand New Stainless Steel Kitchen Appliances, New Luxury Vinyl Plank Flooring Throughout, New Tub / Shower, Toilet And Vanity, All New Doors (Interior And Exterior), Fresh Paint Throughout, Landscaping, Levelling, New Blockings Underneath, And Much More. This Home Is Move In Ready With Nothing Left To Be Done But Unpack! Call For Your Private Showing Today. (Id:23934)
CALL1.877.896.6727
Property Price
$129,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$6,495
Mortgage Insurance ($)
$4,936
Mortgage Required ($)
$128,341
Best Mortgage Rate (%)
1.54%
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
$7,995
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$7,995
Monthly Payment
$515
Brookline Park Semi-Detached Homes . Featuring 2316 Square Ft Of Living Space, With 4 Bedroom, 3.5 Baths, A Spacious Floor Plan With Walkout Basement. Heated With Natural Gas Hot Water Baseboard And One Ductless Heat Pump For Comfort And Savings. Exterior Is Mix Of Wood Siding & Stone, With Contemporary Black Windows, An Upgraded Composite Front Deck, And Large 21 X 12 Back Deck With Black Balusters And A Privacy Wall. Interior Is Carpet Free, With Hardwood Staircases, A Large Kitchen That Includes A 6 Foot Island (All Hard Surface Countertops) Just Perfect For Entertaining, And A Walk-In Pantry Plus A Broom Closet For All Your Storage Needs. Upstairs Master Bedroom Is At The Back Of The Home Facing The Treed Rear Yard, And Is Upgraded To Include A Trey Ceiling, Ensuite With Double Sinks And Custom Shower,2 More Bedrooms Full Bath And Laundry Room. Lower Level Has A Full Bathroom, 4Th Bedroom, Large Recroom With Walkout To The Backyard. Located Near Walking Trails And Parkland, This Energy Efficient Home Has Natural Gas Lines To The Stove, Barbeque And Hot Water Heater. (Id:23934)
CALL1.877.896.6727
Property Price
$462,500
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$23,125
Mortgage Insurance ($)
$17,575
Mortgage Required ($)
$456,950
Best Mortgage Rate (%)
1.54%
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
$24,625
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$24,625
Monthly Payment
$1,835
Warm And Welcoming Cape Cod Style Home Sitting On A Beautiful And Private 2 Acre Landscaped Lot. This Home Was Custom Built By The Original Owners And Has Been Thoughtfully Updated Through The Years Including An Absolutely Stunning Open-Concept Eat-In Kitchen / Family Room That Spans The Entire Rear Of The Home And Is Sure To Become The Favourite Gathering Place With Its Large Island, Ample Counter And Storage Space, Wood Burning Fireplace With Gorgeous Wood-Panelled Mantle Plus A Clever Office Nook That Can Double As A Buffet. Step Out Through French Doors Onto The Private Rear Deck And Take In The Spectacular Rear Yard With Mature Landscaping. Back Inside A Sunny Living Room And Separate Dining Space Round Out The Main Level. Upstairs The Master Bedroom Is Separated From The 2 Secondary Bedrooms By An Updated Full Bath, And Features Its Own Walk-In Closet And Ensuite Bath With Full Sized Shower. A Large Bonus Room Has Custom Wood Beams And Vaulted Ceilings. There Is An Additional Bedroom On The Lower Level Plus The Opportunity To Finish Another 500+ Square. Ft. If So Desired. The Neighbourhood Is Known For Its Sense Of Community, Great Schools, And Nearby Parks And Trails. A Must-See! (Id:23934)
CALL1.877.896.6727
Property Price
$419,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$20,950
Mortgage Insurance ($)
$15,922
Mortgage Required ($)
$413,972
Best Mortgage Rate (%)
1.54%
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
$22,450
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$22,450
Monthly Payment
$1,662

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.