PEI Mortgage Rates.

As of December 3rd, 2021
I am looking to get rates for:
LenderRateMonthly Payment
Citadel Mortgages
Citadel Mortgages
2.08%
$1,925
Laurentian
Laurentian
More From Laurentian
2.39%
$1,994
Mortgage Alliance
Mortgage Alliance
2.44%
$2,005
Equitable
Equitable
More From Equitable
2.54%
$2,028
Dominion Lending
Dominion Lending
2.59%
$2,039
Mortgage Architects
Mortgage Architects
2.59%
$2,039
2.64%
$2,051
2.66%
$2,055
2.69%
$2,062
2.69%
$2,062
TD
TD
More From TD
2.74%
$2,074
CMLS
CMLS
More From CMLS
2.74%
$2,074
Simplii Financial
Simplii Financial
More From Simplii Financial
2.79%
$2,085
First National
First National
More From First National
2.79%
$2,085
2.82%
$2,092
2.82%
$2,092
MCAP
MCAP
More From MCAP
2.84%
$2,097
Manulife
Manulife
More From Manulife
2.89%
$2,108
2.89%
$2,108
Desjardins
Desjardins
More From Desjardins
2.89%
$2,108
2.90%
$2,111
2.94%
$2,120
Scotiabank
Scotiabank
More From Scotiabank
4.79%
$2,576
4.79%
$2,576
4.79%
$2,576
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 insured mortgages. Rates updated on 2021-12-03

Prince Edward Island at a Glance

Prince Edward Island is Canada’s smallest province, but it is also Canada’s most densely populated province.

Prince Edward Island is Canada’s smallest province, but it is also Canada’s most densely populated province. Apart from the main island, PEI also includes 231 minor islands. Over 90% of all jobs created in the province from 2008 to 2015 was located in the province’s capital city, Charlottetown. Summerside is the only other city on the island, with towns including Stratford, Three Rivers, and Cornwall. The average price of a home in PEI reached its highest level ever in October 2020, at $298,668. This was a 19.6% increase in home prices over October 2019.

All of Canada’s Five Big Banks, RBC, TD, Scotiabank, BMO, and CIBC, have bank branches located in PEI. Scotiabank has the highest number of branches at seven, followed by CIBC with six branches.

There are seven credit unions based in PEI. These are: Consolidated Credit Union, Evangeline-Central Credit Union, Malpeque Bay Credit Union, Morell Credit Union, Provincial Credit Union, Souris Credit Union, and Tignish Credit Union. All seven of these credit unions offer residential mortgages.

Mortgage Brokers

Prince Edward Island does not have any mortgage broker regulations. Instead, mortgage brokers are licensed as real estate agents under PEI’s Real Estate Trading Act and Regulations. Real estate agents and brokers are licensed by the Prince Edward Island Real Estate Association.

National mortgage brokers all operate in PEI, such as Dominion Lending Centres, Invis, The Mortgage Centre, and Mortgage Architects. Local mortgage brokers include Premiere Mortgage PEI and Mortgage Broker Store.

This calculator is provided for general information purposes only. WOWA does not guarantee the accuracy of the information shown and is not responsible for any consequence that arise from the use of the calculator and its results. Any financing products shown are subject to terms and conditions and may not be available in certain regions.