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 Is A Beautiful " Top Quality" Modern Duplex. 3- Bedrooms And A Full Bath In Each Unit. 6- Major Appliances Included In Each Unit, (Refrigerator, Stove, Dish Washer, Dryer ,Washer, Microwave). Both Units Have Heat Pumps, Infloor Hot Water Heat . 2- Seperate Pid's , Allows Individual Sales Of Each Unit. Each Unit Has It's Own Water And Sewer System. Appliances Included With Each Unit. A Concrete Wall Seperates Each Unit, In The Center Of The Building. Concrete Driveway And Rear Patios. Survey At Brokers Office. 2Nd Unit Has The Same Layout With Approx. 8' Ceilings. (Id:23934)
CALL1.877.896.6727
Property Price
$475,000
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$23,750
Mortgage Insurance ($)
$18,050
Mortgage Required ($)
$469,300
Best Mortgage Rate (%)
1.45%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$7,125
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$32,375
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$32,375
Monthly Payment
$1,865
This Spacious Split Level Home Is Located In One Of Truros Most Desirable Areas With Double Serviced Lot, Attached Double Garage And Double Paved Drive. Theres Also A Double Gravel Drive For Additional Parking. Features 3 Bedrooms, 1.5 Baths And A Large 24 X 27 Recreation Room With Provision For Wood Stove. A Great Home And Area To Raise Your Family....Book Your Viewing Today! (Id:23934)
CALL1.877.896.6727
Property Price
$429,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$21,495
Mortgage Insurance ($)
$16,336
Mortgage Required ($)
$424,741
Best Mortgage Rate (%)
1.45%
Mortgage Type
5 Years Variable
Amortization
25 Years
Land Transfer Tax (LTT)
$4,299
Mortgage Insurance PST
$0
Lawyer Fee
$1,000
Title Insurance
$500
Total Cash Needed
$27,294
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$27,294
Monthly Payment
$1,688
Immaculate 3-Bedroom Home With Extra-Deep Backyard Near 3 Levels Of Schools, Buses & Highways In Popular Millwood! With A Lovely Lot, Sunny Back Yard, Lots Of Hardwood Floors & A Great Layout, This Home Has Lots To Offer Including Vinyl Windows Throughout. Main Floor Features A Large Bright Living Room, Roomy Dining Room With Walkout To Patio Deck, & A Great Kitchen With Loads Of Storage & Workspace. Principal Bedroom Can Easily Handle King-Sized Furniture, Main Bath Is Large & Bright, & 2Nd Bedroom Is A Good Size. On The Lower Level You'll Find A Large Recreation Room With Big Window, Another Bright Full Bath, A Huge 3Rd Bedroom & A Great Workroom / Laundry Combo With A Walkout To The Yard. Enjoy The Playgrounds, Parks & Trails In & Around Millwood While Being Five Minutes From Groceries, Major Transit Terminal Or Highway Access To Dartmouth Or Halifax. Check Out Our 360 Tour & Then Send Us A Message For A Safe Virtual Or In Person Showing. (Id:23934)
CALL1.877.896.6727
Property Price
$274,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$13,745
Mortgage Insurance ($)
$10,446
Mortgage Required ($)
$271,601
Best Mortgage Rate (%)
1.45%
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
$15,245
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$15,245
Monthly Payment
$1,079
First Time Home Buyers, Down Sizers And Investors Look No Further Than This Eastern Passage Gem. This 3 Bed/ 2 Bath Split Entry Style Semi Has Undergone A Series Of Upgrades That Include: New Roof Shingles In 2014, Some New Windows In 2015, New Side Entry Door In 2021, Both Bathrooms Fully Updated In 2020, Kitchen Cabinets Resurfaced In 2020, New Dining Room Cabinets, Backsplash And Countertop In 2020, All New Light Fixtures In 2020, All New Vinyl Plank Throughout With The Exception Of The Basement Recreation Room Which Has Rubber Tile For Home Gym (2020) And New Front Porch In 2020. All This And You Are A Stones Throw Away From The Community Playground, Mere Minutes From All Amenities, Schools And Hartlen Point Golf Club. Dont Miss Out On This Affordable And Well Looked After Semi That Borders The Most Recent Developed Phase Of Erindale Estates. (Id:23934)
CALL1.877.896.6727
Property Price
$239,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$11,995
Mortgage Insurance ($)
$9,116
Mortgage Required ($)
$237,021
Best Mortgage Rate (%)
1.45%
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
$13,495
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$13,495
Monthly Payment
$942
Beautifully Renovated Wheelchair Accessible Bungalow Conveniently Located In Lower Sackville, Close To Major Shopping Destinations And Highway 101. This Home Offers One-Floor Living, With A Bright Kitchen, A Dining Nook, A Spacious Living Room, Laundry, A Full Bathroom, And Three Bedrooms All On The Same Level. The Side Deck Offers Wheelchair Access Through A Side Entrance. Downstairs You Will Find A Large Recreational Room, An Office Or A Guest Bedroom, And A Full Bathroom (This Space Is Suitable For An In-Law Suite, If Needed, And Can Be Accessed Easily Through The Side Entrance). The Backyard Is Big Enough For An Above-Ground Pool Or Hot Tub, Or Any Other Family Activities As It Has South-West Sun Exposure. Brand New Appliances In The Kitchen And New Flooring Throughout This Move-In Ready Home. (Id:23934)
CALL1.877.896.6727
Property Price
$339,900
Minimum Down Payment (%)
5.00%
Minimum Down Payment ($)
$16,995
Mortgage Insurance ($)
$12,916
Mortgage Required ($)
$335,821
Best Mortgage Rate (%)
1.45%
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
$18,495
First Time Home Buyer
Land Transfer Tax Credit
$0
Cash Needed
$18,495
Monthly Payment
$1,335

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.