How to use the PEI mortgage calculator
Mortgage rates in PEI
The mortgage rates that are charged in PEI vary substantially by province and territory. The most current PEI mortgage rates are the best ones to use when calculating your expected mortgage payment.
Land transfer tax (LTT) in PEI
When purchasing property in PEI a substantial cost to consider is the land transfer tax that will be charged to transfer the land from the seller to the buyer. It is recommended to understand how land transfer tax is charged in PEI which can be shown on our PEI land transfer tax calculator.
Mortgage affordability in PEI
With the high cost of home prices in PEI, purchasing a home in PEI can prove to be difficult. You can use our PEI mortgage affordability calculator to see how much home you can afford in PEI.
Amortization period
30-year amortization periods are available with a down payment that is less than 20% if you are a first-time homebuyer or purchasing a new build home. For all other cases where the down payment is less than 20% the amortization period is 25-years. If your down payment is more than 20% these maximum periods are set by the lender.
