How do lenders handle offshore-worker income in NL?

Most A-lenders accept rotational offshore income (oil platform workers, marine sector) using the 2-year average of T4 box 14 plus consistent overtime/premium pay. Some lenders apply a haircut on overseas-component pay; we shop lenders with the most favourable treatment for your specific employer.

Which NL areas have the highest mortgage volume?

St. John's metro (~$345K average) accounts for the majority of provincial origination. The Avalon Peninsula sees the bulk of new construction; rural NL areas tend toward smaller files with more credit union and alt-lender involvement.

Are there special programs for first-time buyers in NL?

Federally, the First-Time Home Buyer Tax Credit ($1,500) and the FHSA + RRSP Home Buyers' Plan stack apply. Provincially, NL offers the Home Heating Supplement (not mortgage-related) and various rural incentive programs in specific communities — confirm with the municipality you're buying in.

Newfoundland and LabradorLive ratesUpdated Jun 12, 2026

Newfoundland and Labrador mortgage rates.

Most affordable major-market home prices in Atlantic Canada, with St. John's dominating origination. Strong commission and offshore-worker income files.

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Purchase — Newfoundland and Labrador

As of Jun 12, 2026

Lender

Term

Type

Rate

APR

Best-in-network

50+ lender panel · MSA

5-yr

Variable

4.04%Best

4.04%

Best-in-network

50+ lender panel · MSA

5-yr

Fixed

4.19%

Best-in-network

50+ lender panel · MSA

3-yr

Fixed

4.39%

Best-in-network

50+ lender panel · MSA

2-yr

Fixed

4.79%

Best-in-network

50+ lender panel · MSA

1-yr

Fixed

5.39%

Best-in-network

50+ lender panel · MSA

10-yr

Fixed

5.69%

Rates updated daily. O.A.C., E.&O.E.

Refinance — Newfoundland and Labrador

As of Jun 12, 2026

Lender

Term

Type

Rate

APR

Best-in-network

50+ lender panel · MSA

5-yr

Variable

4.04%Best

4.04%

Best-in-network

50+ lender panel · MSA

5-yr

Fixed

4.19%

Best-in-network

50+ lender panel · MSA

3-yr

Fixed

4.39%

Best-in-network

50+ lender panel · MSA

2-yr

Fixed

4.79%

Best-in-network

50+ lender panel · MSA

1-yr

Fixed

5.39%

Best-in-network

50+ lender panel · MSA

10-yr

Fixed

5.69%

Rates updated daily. O.A.C., E.&O.E.

Renewal — Newfoundland and Labrador

As of Jun 12, 2026

Lender

Term

Type

Rate

APR

Best-in-network

50+ lender panel · MSA

5-yr

Variable

4.04%Best

4.04%

Best-in-network

50+ lender panel · MSA

5-yr

Fixed

4.19%

Best-in-network

50+ lender panel · MSA

3-yr

Fixed

4.39%

Best-in-network

50+ lender panel · MSA

2-yr

Fixed

4.79%

Best-in-network

50+ lender panel · MSA

1-yr

Fixed

5.39%

Best-in-network

50+ lender panel · MSA

10-yr

Fixed

5.69%

Rates updated daily. O.A.C., E.&O.E.

HELOC — Newfoundland and Labrador

As of Jun 12, 2026

Lender

Term

Type

Rate

APR

Best-in-network

50+ lender panel · MSA

0-yr

Variable

6.45%Best

6.45%

Rates updated daily. O.A.C., E.&O.E.

Benchmark price

$345,000

Newfoundland and Labrador provincial average · 2026

NL Registration Fees (no LTT)

Newfoundland and Labrador does not charge a Land Transfer Tax. Closing costs include a Document Registration Fee (~$100 + $0.40 per $100 of value over $500) — typically $1,500-$2,500 total.

Regulator

Digital Government and Service NL (Real Estate Trading)

Official site →

Top Newfoundland and Labrador lenders

RBCScotiabankTDNewfoundland and Labrador Credit UnionMCAPFirst National

Why Newfoundland and Labrador rates work the way they do

NL has thinner lender competition than larger provinces — Big-6 + monolines plus NL Credit Union dominate. Offshore-worker income files (oil platform workers, marine sector) are common and require lenders that handle rotational schedules and overseas income properly.

Mortgage brokers in Newfoundland and Labrador

Same FSRA license, same 50+ lender network — applied to each Newfoundland and Labrador market.

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FAQ

Newfoundland and Labrador mortgage rates — common questions.

Don’t see yours? Ask Maya — instant answer in 50+ languages.

No — NL does not charge a provincial LTT. You pay only Document Registration Fees at approximately $100 plus $0.40 per $100 of property value above $500. On a $350K St. John's home, that's roughly $1,500.

Rates in other provinces

Same broker, every province — pick yours.

National rate table →

Ontario British Columbia Alberta Quebec Manitoba Saskatchewan Nova Scotia New Brunswick Prince Edward Island

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