Newfoundland & Labrador

Best mortgage rates in Newfoundland and Labrador: compare today's fixed and variable offers

Compare today's best mortgage rates in Newfoundland and Labrador for purchases, renewals, refinances, and home equity scenarios. See indicative fixed and variable offers, what type of borrower typically qualifies, and when a lower rate may come with trade-offs in penalties, portability, or flexibility.

Rates updated daily · Displayed rates are indicative and may change based on down payment, insurance status, property type, and borrower profile.

Live rates

Newfoundland mortgage rates

Transaction

Purpose

Province

Purchase price

Down payment

$ 20%

Amortization

Term

Fixed

Variable

Current market rates are shown below as a quick reference. For a personalized quote based on your details, contact us or review our current Ontario rates overview.

Typical Canadian mortgage rates - Ontario, owner-occupied purchase (indicative, updated regularly)
Term	Fixed rate	Variable rate	Note
1 year	~4.69%	-	Short commitment
2 year	~4.39%	-	Rate reset opportunity
3 year	~3.94%	~3.55%	Mid-term flexibility
4 year	~4.39%	-
5 year	~4.04%	~3.44%	Most popular term

Rates are indicative and change daily. Speak with a Frank advisor for live lender pricing tailored to your profile.

Rates are from our lender network and shown for informational purposes only. Your actual rate depends on your borrower profile and selected product. Speak with a Frank advisor for a personalized quote.

Programs

NL first-time buyer programs

First Home Savings Account (FHSA)

Contribute up to $8,000/year (lifetime max $40,000). Contributions reduce your taxable income and qualifying withdrawals are tax-free. An effective vehicle for saving toward a home in NL's market.

RRSP Home Buyers' Plan (HBP)

Withdraw up to $60,000 tax-free from your RRSP ($120,000 for two buyers). Repay over 15 years or the amount is added back to your taxable income.

No Land Transfer Tax

Newfoundland and Labrador does not charge a land transfer tax. Instead, a small deed registration fee applies - a significant advantage compared to provinces like Ontario or BC where LTT can reach tens of thousands of dollars.

Closing costs

Newfoundland & Labrador Deed Registration Fee

NL does not charge a land transfer tax. Instead, the province charges a deed registration fee based on the property value. The formula is $100 flat plus $0.40 for every $100 of value over $500 - resulting in fees that are substantially lower than LTT in most Canadian provinces.

Deed registration fee formula

$100 base fee + $0.40 per $100 of property value over $500

Purchase price	Deed registration fee
$250,000	$100 + (($249,500 / 100) × $0.40) = ~$1,098
$400,000	$100 + (($399,500 / 100) × $0.40) = ~$1,698
$600,000	$100 + (($599,500 / 100) × $0.40) = ~$2,498

A mortgage registration fee also applies, calculated using the same formula applied to the mortgage amount.

Mortgage registration fee examples

Mortgage amount	Fee calculation
$250,000	$100 + (($249,500 / 100) × $0.40) = ~$1,098
$320,000	$100 + (($319,500 / 100) × $0.40) = ~$1,378
$400,000	$100 + (($399,500 / 100) × $0.40) = ~$1,698
$500,000	$100 + (($499,500 / 100) × $0.40) = ~$2,098

Both fees apply at closing. Confirm exact amounts with your lawyer or notary before closing.

FAQ

NL mortgage rate - common questions

Does Newfoundland and Labrador have a land transfer tax?

No. Newfoundland and Labrador does not charge a land transfer tax. Instead, a deed registration fee applies: $100 flat plus $0.40 per $100 of property value over $500.

Does Frank charge a fee for NL mortgages?

No. Frank charges $0 for prime (A-lender) mortgages and alternative (B-lender) mortgages in Newfoundland & Labrador. Frank is compensated by the lender. We only charge fees when a private mortgage is necessary.

Related resources

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