Prince Edward Island

Best mortgage rates in Prince Edward Island: compare today's fixed and variable offers

Compare today's best mortgage rates in Prince Edward Island 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

Prince Edward Island mortgage rates

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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

PEI first-time buyer programs

First Home Savings Account (FHSA)

Contribute up to $8,000/year (lifetime max $40,000). Tax-deductible contributions and tax-free qualifying withdrawals. An effective savings tool for PEI's growing property 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 becomes taxable income.

Property Transfer Tax Exemption (FTB)

First-time buyers may be fully exempt from PEI's 1% property transfer tax if both the purchase price and assessed value are under $200,000 and the property will be their primary residence.

Closing costs

PEI Real Property Transfer Tax calculator

PEI charges 1% of the greater of the purchase price or assessed value. Properties under $30,000 are exempt. First-time buyers may be fully exempt if both the purchase price and assessed value are under $200,000 and the home will be their primary residence.

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LTT
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Total land transfer tax after rebates
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Rate brackets
Purchase price rangeMarginal rate
FAQ

PEI mortgage rate - common questions

What is the property transfer tax in PEI?
PEI charges 1% of the greater of the purchase price or assessed value. Properties under $30,000 are exempt. First-time buyers may be fully exempt if both the purchase price and assessed value are under $200,000 and the home will be their primary residence.
How do I get the best mortgage rate in PEI?
Work with a mortgage broker who shops multiple lenders. Strong credit (680+), documented income, and at least 5% down are the baseline for A-lender pricing. Frank is licensed in PEI and charges no fee on prime mortgages.
Does Frank charge a fee for PEI mortgages?
No. Frank charges $0 for prime (A-lender) mortgages and alternative (B-lender) mortgages in PEI. Frank is compensated by the lender. We only charge fees when a private mortgage is necessary.

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