- Closing costs in Nova Scotia: Nova Scotia municipalities charge a deed transfer tax of up to 1.
- The federal stress test and down payment rules apply in every province.
- Mortgage brokers are licensed by Nova Scotia's Service Nova Scotia (Consumer and Business Affairs).
What are today's best mortgage rates in Nova Scotia?
| Term | Rate | Lender type | Shelf / note | Payment on $400,000 |
|---|---|---|---|---|
| 5-year fixed | 4.04% | Credit union | uninsured | $2,113/mo |
| 5-year variable | 3.70% | Brokerage | prime − 0.75% | $2,046/mo |
| 3-year fixed | 4.19% | Monoline | uninsured | $2,145/mo |
| HELOC | 4.95% | Bank | prime + 0.50% | — |
Payments on a $400,000 mortgage, 25-year amortization, fixed rates compounded semi-annually. Prime 4.45% (Bank of Canada policy rate 2.25%), October 7, 2026.
Who lends in Nova Scotia?
What does it cost to close in Nova Scotia?
Nova Scotia municipalities charge a deed transfer tax of up to 1.5% (Halifax charges 1.5%). Non-residents may pay an additional provincial deed transfer tax.
| Item | Amount |
|---|---|
| Transfer tax / registration fees (incl. mortgage fee where charged) | $6,750 |
| Effective rate | 1.50% |
Mortgage registration estimated at 80% of price where charged. Rules checked October 7, 2026.
Mortgage rules in Nova Scotia
Mortgage brokers are licensed by Nova Scotia's Service Nova Scotia (Consumer and Business Affairs). National rules apply everywhere: minimum down payment of 5% to 20%, the stress test (the greater of your rate + 2% or 5.25%), and insured mortgages only on homes under $1.5 million.
HELOC in Nova Scotia
Nova Scotia homeowners can get a HELOC up to 65% of value, or 80% combined with a mortgage. Bids show the rate as prime plus a margin. See HELOC.
First-time home buyer programs in Nova Scotia
Some municipalities offer first-time buyer relief on deed transfer tax; federal programs apply. First-time home buyer programs in Nova Scotia
Mortgage rates by city in Nova Scotia
Frequently asked questions
Are mortgage rates different in Nova Scotia?
Most national lenders price provinces similarly; differences come from which lenders serve the area, property type and local closing costs.
Do I need a mortgage broker in Nova Scotia?
Not to get bids. Licensed brokerages bid alongside lenders on MortgageBids.ca.
Can I renew with a different lender in Nova Scotia?
Yes, at maturity with no prepayment penalty.
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