- Closing costs in Nunavut: Nunavut has no land transfer tax.
- The federal stress test and down payment rules apply in every province.
- Lending is regulated federally and territorially; check lender licensing on each bid.
What are today's best mortgage rates in Nunavut?
| 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 Nunavut?
What does it cost to close in Nunavut?
Nunavut has no land transfer tax. Land titles charges $1.50 per $1,000 of value up to $1 million (minimum $60), plus a mortgage fee of $1 per $1,000.
| Item | Amount |
|---|---|
| Transfer tax / registration fees (incl. mortgage fee where charged) | $1,035 |
| Effective rate | 0.23% |
Mortgage registration estimated at 80% of price where charged. Rules checked October 7, 2026.
Mortgage rules in Nunavut
Lending is regulated federally and territorially; check lender licensing on each bid. 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 Nunavut
Nunavut 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 Nunavut
Federal FHSA, Home Buyers' Plan and new-home GST rebate. First-time home buyer programs in Nunavut
Frequently asked questions
Are mortgage rates different in Nunavut?
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 Nunavut?
Not to get bids. Licensed brokerages bid alongside lenders on MortgageBids.ca.
Can I renew with a different lender in Nunavut?
Yes, at maturity with no prepayment penalty.
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