Nova Scotia Mortgage Rates

Seventh in term of Canada’s GDP and population, the province of Nova Scotia is vital to the health and well being of the country. Real estate continues to be in high demand in the province, and many homeowners are moving to this Maritime province to take advantage of low housing prices and other opportunities. If you are interested in buying a home in Nova Scotia, we are the best resource for you. Our partnership with several Canadian lenders means that you always get the best Nova Scotia mortgage rates when you use our tools. All you have to do is choose a mortgage rate and fill out the form on this page to get started. It would be wise, however, to first consider the state of housing in the province. Read on to find out more about the Nova Scotia housing market, and then select a mortgage rate that will best fit your specific needs.

Find your customized rate

  • The mortgage amount is the total cost of the home you plan to purchase, minus your down payment. If you are refinancing or renewing your mortgage, this is the current value of your mortgage.
    • There are different types of mortgages available. A fixed-rate mortgage doesn't change during your mortgage term while a variable mortgage rate is subject to change based on the lender's prime rate.
    • The mortgage term is the length of time you are locked into a certain interest rate. The most common term is 5 years. However, the term can be anywhere from 6 months to 10 years.
    • Select the province that you currently reside in or the province you plan on moving to in order to access the best mortgage rates in your area.
    • The amortization period is the total length of time it takes to pay off your mortgage. The most common amortization period is 25 years. Longer amortization periods will reduce your monthly payments, but you will pay more interest over the life of your mortgage.
Mortgage providers include lenders and mortgage brokers. Lenders will provide the funding for your mortgage whereas mortgage brokers will shop your mortgage around for the best rate.
The mortgage rate is the amount of interest you will pay on the principal balance of your mortgage. This rate will vary depending on whether you choose a fixed or variable mortgage rate.
The rate hold is the length of time (usually 30-120 days) a lender will guarantee the current mortgage rate being offered.
The mortgage prepayment options allow you to either make a lump sum payment against your mortgage principal without penalty or increase your original monthly mortgage payments by a specific percentage.
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The monthly mortgage payment is calculated based on the mortgage amount, amortization period, and the associated mortgage interest rate.
The details of the mortgage include the mortgage type and term. The mortgage prepayment options allow you to either make a lump sum payment against your mortgage principal without penalty or increase your original monthly mortgage payments by a specific percentage.
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