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

This Very Well Kept Fully Developed Split Entry Designed Home Is Great As The Existing Single Family Home Or Easily Converted Into 2 Units. Main Floor Has An Eat-In Kitchen, Living Room,2 Bedrooms And Full Bath, While The Lower Unit Has A Large Family Room With A Cozy Propane Stove (Battery Powered For Loss Of Power),A 3Rd Bedroom, A 3Pc Bath With Shower, And A Laundry Room. Comfort Year Round With Heat Pumps On Both Levels Providing Heat And Air Conditioning! The Roofing Was Replaced In 2019 And All Of The Windows Replaced In 2009 With Low E Glass Windows(Keeps Heat Inside In Winter And Sun Reflects Off Them In Summer). The Creatively Landscaped Rear Yard On This Property Is Something Else To See When All The Plants And Flowers Are In Full Bloom! The Owner Has Spent Years Planting And Cultivating To Get It Where It Is Today. Paved Driveway, Large Rear Deck With Full Privacy .A Five Minute Walk To The Baille Ard Walking Trail, A Five Minute Drive To The Co-Operating Broker Regional Hospital And Major Shopping, 2 Minute Walk To Bus. (Id:23934)
CALL1.877.896.6727
Property Price
$395,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$19,750
Mortgage Insurance ($)
$15,010
Mortgage Required ($)
$390,260
Best Mortgage Rate (%)
5.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$5,925
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$27,175
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$27,175
Monthly Payment
$2,460
Welcome To Armory Square, The Ultimate Luxury Of A Downtown Condo, While Having Ample Space And The Functionality Of A Detached Home. Imagine Having The Halifax Commons Right Across The Street From Your Lobby, Or Views From The Primary Bedroom Of The Commons, Citadel, Downtown, Emera Oval And So Much More. This 3-Bedroom, 2-Full Bathroom Unit Spans Across 1528 Square Feet, Featuring Newer Gorgeous Dark Maple Engineered Hardwood, Newer Stain-Proof Carpets In The Bedrooms, Granite Countertops, Newer Stainless Steel Appliances, And 9Ft Ceilings! The Primary Bedroom Boasts Two Closets, Including A Walk-In And A 5-Piece Ensuite With Double Sinks, A Soaker Tub, And A Shower. The Two Other Bedrooms Are Also Extremely Spacious?One Feels Like Another Primary Bedroom With A Walk-In Closet, And The Third Is Also Spacious And Functional. The Building Is Rich With Amenities, Including Your Heated Underground Parking, A Car Wash Bay, Storage Unit, A Gym, Common Room With A Kitchen And Boardroom, And A Private Courtyard. It Doesn't Stop There?The Fees Include Cool Ac, Heat, Water, Maintenance, And Access To All These Amenities. This Condo Is A Rare Find. The Location Can't Be Beaten And You Are In The Middle Of The Action. Book Your Viewing And Prepare To Be Wowed! (Id:23934)
CALL1.877.896.6727
Property Price
$924,900
Minimum Down Payment (%)
7.30%
Minimum Down Payment ($)
$67,490
Mortgage Insurance ($)
$34,296
Mortgage Required ($)
$891,706
Best Mortgage Rate (%)
5.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$13,874
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$82,864
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$82,864
Monthly Payment
$5,621
Nestled In The Heart Of A Highly Sought-After Neighborhood, This Charming 3-Bedroom House Offers The Perfect Blend Of Elegance And Comfort, Making It The Ideal Place To Call Home. Upon Entering, You'll Immediately Notice The Warm And Welcoming Atmosphere Of The Living Room, Centered Around A Cozy Fireplace That Beckons You To It. Sliding Glass Doors Lead You To The Backyard Oasis, Where You'll Discover A Massive Inground Pool, Perfect For Enjoying Sunny Days And Entertaining Guests. The Accompanying Deck Provides The Ideal Space For Lounging, Barbecues, And Outdoor Gatherings. As The Sun Sets, The Pool Area Transforms Into A Tranquil Retreat, Offering A Serene Place To Stargaze Or Simply Relax In The Evening Breeze. Just Steps Away, Across The Street Is The Beautiful Springfield Lake With Direct Access To It By Boat Launch Or The Beach. (Id:23934)
CALL1.877.896.6727
Property Price
$459,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$22,950
Mortgage Insurance ($)
$17,442
Mortgage Required ($)
$453,492
Best Mortgage Rate (%)
5.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$0
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$24,450
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$24,450
Monthly Payment
$2,858
Sophisticated, Family-Friendly Living In Sought-After Glengarry Estates. Welcome To 173 James Street In Timberlea, One Of Halifax?S Most-Sought After Communities. This Picturesque 2 Storey Home Is Idyllically Nestled On A Elegantly Landscaped Lot Featuring A Paved, Double Car Driveway, Fully Fenced Yard And Covered Front Porch, Where You Can Enjoy A Quiet Cup Of Coffee Rain Or Shine. Inside You Will Find A Timeless Layout Featuring A Spacious Living Room That Opens Up To A Bright Kitchen And Dining Area. The Kitchen Is A Chef?S Delight With Sleek, Stainless Steel Appliances, White Cabinetry, Ample Counter Space And A Double Sink Overlooking The Peaceful Backyard. Sliding Doors Lead To The Spacious Back Deck For Quick Access From The Kitchen To The Barbeque. A Powder Room Completes This Floor. Upstairs, You Will Find 3 Generously Sized Bedrooms Including A Large Primary Bedroom With A Walk-In Closet. A Full Bath And Conveniently Located Laundry Closet Complete This Floor. The Lower Level Features A Massive Recreation Room, Perfect For Kids To Play Or Friends And Family To Entertain. Finally, A 2 Piece Bath Completes This Floor. Outside Is Where All The Fun Happens! This Level Lot Is Perfect For Gardening, Constructing A Playground Or Swing Set Or Sharing Smores Around The Fire Pit. A Shed Located Near The Back Of The Yard Is Perfect For Storing Tools And Other Odds And Ends. Timberlea Is Located Just 10 Minutes From Bayers Lake Where All Your Shopping Needs Will Be Met. Schools And Parks Are Aplenty In This Neighbourhood, Which Means Your Kids Will Love Getting To Know Their New Surroundings. Call Now To Book Your Private Viewing! (Id:23934)
CALL1.877.896.6727
Property Price
$498,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$24,900
Mortgage Insurance ($)
$18,924
Mortgage Required ($)
$492,024
Best Mortgage Rate (%)
5.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$0
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$26,400
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$26,400
Monthly Payment
$3,101
This House Is Made For Easy Living In Your Golden Years ~ Although Completely Set Up And Ready For Those Who Are Empty Nesting, With A Wheelchair Lift And Ramp Off The New Porch, This Adorable 2-Bedroom, 2-Bath Mini Home On Belmont Street In Lahave Heights Is Ideal For A Family Of Any Age. Move In Now, At An Affordable Price Point, And Never Worry About A Thing As Your Family Grows. Centrally Located Within Walking Distance Of All Town Amenities, The Hospital, Groceries, Gas, And Bridgewater?S Town Transit System On North St. The Home Recently Had New Flooring Throughout The 2 Bedrooms. Never Worry About Losing Your Power With The Honeywell Generator System That Is All Connected And Ready To Go. This Top-Of-The-Line Direct Transfer System Comes On Automatically When You Lose Power. How Easy Is That When The Winds And Snow Are Blowing Outside? The Primary Suite Has A Full Ensuite With A Corner Soaker Tub, Stand-Up Shower, And A Walk-In Closet. Each Of The Home?S Principal Rooms Is Generous In Size For Easy Flow Throughout The House, Including The Mudroom! Don?T Feel Pressured About A Lack Of Storage With The Properties 2 Storage Sheds. If You Have Your Heart Set On A Low-Maintenance Lifestyle, In A One-Level Home, This Is Indeed The Ultimate Location To Do Just That. (Id:23934)
CALL1.877.896.6727
Property Price
$215,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$10,750
Mortgage Insurance ($)
$8,170
Mortgage Required ($)
$212,420
Best Mortgage Rate (%)
5.84%
Mortgage Type
5 Years Fixed
Amortization
25 Years
Land Transfer Tax (LTT)
$3,225
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$15,475
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$15,475
Monthly Payment
$1,339

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.