Mortgage broker in St. John's
One application, 65+ lenders, and Newfoundland and Labrador pricing that reflects today's market — not the single rate your bank happens to offer.
Get my rate →What does a mortgage cost in St. John's right now?
A typical home in St. John's costs around $360,000. With the federal minimum down payment of $18,000 and default insurance added, the mortgage comes to roughly $355,680 — about $1,898 a month at 4.14% over a 25-year amortization.
Newfoundland charges a registration fee instead of a transfer tax, which makes St. John's one of the cheapest places in Canada to close a purchase.
- Typical St. John's home price: about $360,000.
- Minimum down payment: $18,000.
- Estimated monthly payment at 4.14% over 25 years: $1,898.
- Estimated closing taxes and registration: $1,538.
The St. John's numbers, line by line
- Benchmark purchase price
- $360,000
- Minimum down payment
- $18,000
- Mortgage before insurance
- $342,000
- Default insurance premium
- $13,680
- Total mortgage
- $355,680
- Monthly payment at 4.14%
- $1,898
- Registration fees (estimate)
- $1,538
Prices are rounded market estimates and payments exclude property tax, heat and condo fees. Run your own figures in the payment calculator or the land transfer tax calculator, and see today's Newfoundland and Labrador rates.
What 8Twelve does for St. John's borrowers
- Purchases and pre-approvals for St. John's buyers, including new builds and condos.
- Renewals and lender switches at maturity — no penalty, and most lenders cover the legal costs.
- Refinancing and equity takeout for renovations, investments or tuition.
- Debt consolidation, rolling high-interest balances into one mortgage payment.
- Self-employed, new-to-Canada and rental-income files that a single bank's policy would turn down.
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St. John's mortgage questions
How much do I need for a down payment in St. John's?
On a $360,000 home in St. John's — a typical price for the market — the federal minimum down payment is $18,000. That is 5% of the first $500,000 and 10% of the portion above it. Below 20% down the mortgage must be insured, which adds a premium of roughly $13,680 to the balance.
What are mortgage payments like in St. John's?
At 4.14% over a 25-year amortization, a $360,000 purchase in St. John's with the minimum down payment works out to roughly $1,898 a month in principal and interest. Property tax, heat and condo fees are on top of that.
What are closing taxes and fees in St. John's?
Newfoundland and Labrador charges registration fees rather than a land transfer tax. They come to about $1,538 on a $360,000 purchase in St. John's. Newfoundland & Labrador charges a registration fee ($100 plus $0.40 per $100 above $500) instead of a transfer tax. First-time buyer rebates can reduce this where the province offers them.
Does 8Twelve have mortgage agents licensed in St. John's?
Yes. 8Twelve Mortgage is licensed in Newfoundland and Labrador and works with St. John's homeowners and buyers across purchases, renewals, refinances and debt consolidation, with access to more than 65 lenders rather than a single bank's rate sheet.
Is a mortgage broker better than my bank in St. John's?
A bank can only offer its own products. A broker shops the same application across banks, credit unions, monoline lenders and alternative lenders, then presents the best approval. For St. John's borrowers with self-employment income, rental income or a thin credit file, that breadth is usually the difference between an approval and a decline.
More for St. John's homeowners
St. John's homeowners most often ask us about our mortgage refinance guide, switching lenders at renewal and paying off high-interest debt with home equity. Every city we cover is listed in the mortgage broker directory. Province-wide rules and pricing are on the Newfoundland and Labrador mortgage rates page.
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Learn moreBest available rate from 8Twelve's lender panel, subject to qualification and lender approval. OAC. Your rate depends on your individual financial situation.