PEI Mortgage Rates.

As of August 3rd, 2021
I am looking to get rates for:
LenderRateMonthly Payment
Citadel Mortgages
Citadel Mortgages
1.58%
$1,817
Equitable
Equitable
1.99%
$1,905
Mortgage Alliance
Mortgage Alliance
1.99%
$1,905
Dominion Lending
Dominion Lending
2.09%
$1,927
First National
First National
2.09%
$1,927
motusbank
motusbank
2.09%
$1,927
Mortgage Architects
Mortgage Architects
2.09%
$1,927
Laurentian
Laurentian
2.09%
$1,927
Canada Life
Canada Life
2.10%
$1,929
Tangerine
Tangerine
2.14%
$1,938
HSBC
HSBC
2.24%
$1,960
Simplii Financial
Simplii Financial
2.24%
$1,960
MCAP
MCAP
2.34%
$1,983
TD
TD
2.34%
$1,983
BMO
BMO
2.34%
$1,983
CIBC
CIBC
2.37%
$1,989
Meridian
Meridian
2.39%
$1,994
Canadian Western
Canadian Western
2.41%
$1,998
National Bank
National Bank
2.44%
$2,005
CMLS
CMLS
2.44%
$2,005
Manulife
Manulife
2.49%
$2,017
RBC
RBC
2.49%
$2,017
Scotiabank
Scotiabank
2.49%
$2,017
Desjardins
Desjardins
2.49%
$2,017
Investors Group
Investors Group
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 2021-08-03

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.