Newfoundland Mortgage Rates
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- These rates are for Prime customers. To qualify, you generally need a good credit score and a steady job.
- The following rates may not be valid for uninsured mortgages.
Newfoundland and Labrador at a Glance
Newfoundland and Labrador is Canada’s easternmost province. St. John’s, the province’s largest city, has a population just over 100,000 and an average single-family home price of $274,000. The average price of all homes in Newfoundland and Labrador as of October 2020 was $246,705.
Canada’s Big Banks all have branches in Newfoundland and Labrador, including RBC, TD, Scotiabank, BMO, and CIBC, as well as others, such as HSBC.
Mortgage brokers are licensed by Digital Government and Service NL. There were 71 licensed mortgage brokers as of November 2020. Under the Mortgage Brokers Regulations through the Mortgage Brokers Act, mortgage brokers and mortgage lenders cannot charge a bonus more than 1% of the principal amount plus $100. This bonus does not include any application fee that may be charged by a mortgage lender. Mortgage brokers that make less than $1,000 annually will not need a mortgage broker license. Mortgage brokers include nationally operating ones, such as Dominion Lending Centres, Centum, Mortgage Architects, IntelliMortgage, Invis, First National, and Verico. Others include Nesto, A Plus Mortgage Group, and Dream Escape Mortgage Brokers.
While we try our best to get you the best rates, we cannot guarantee that they are always accurate. WOWA assumes no liability for the accuracy of the information presented, and will not be held responsible for any damages resulting from its use.