Best 3-year fixed mortgage rates in Newfoundland and Labrador.
Today’s best 3-year fixed rate in Newfoundland and Labrador is 4.04% — about $1,548/month on a $366,413 home with 20% down. A 3-year fixed is the hedge term: certainty without locking in a five-year rate at the top of the cycle.
Who has the best 3-year fixed rate in Newfoundland and Labrador?
Scotiabank, at 4.04%. The lowest rates are usually insured pricing.
Insured vs uninsured: the lowest 3-year fixed rates are usually insured pricing: a purchase with less than 20% down, backed by CMHC, Sagen or Canada Guaranty. Uninsured files (20%+ down, homes over $1.5M, refinances) typically price higher. APR is shown only where the lender publishes one that differs from the rate. Rates illustrative; your file (credit, income, LTV) sets your personalized rate. See all Newfoundland and Labrador rates →
What would my payment be?
About $1,548/month. That’s Newfoundland and Labrador’s average price of $366,413 with 20% down ($73,283), a $293,130 mortgage at today’s best 3-year fixed rate of 4.04%, over 25 years with Canadian semi-annual compounding. That payment is locked for the full term. Model your own price in the payment calculator.
| Term | Best rate | Est. monthly payment* |
|---|---|---|
| 5-Year Fixed | 4.19% | $1,572/mo |
| 5-Year VariableLowest | 3.00% | $1,387/mo |
| 3-Year Fixed | 4.04% | $1,548/mo |
| 3-Year Variable | 3.55% | $1,471/mo |
| 2-Year Fixed | 3.99% | $1,540/mo |
| 1-Year Fixed | 4.19% | $1,572/mo |
| 4-Year Fixed | 4.24% | $1,580/mo |
| 7-Year Fixed | 5.00% | $1,705/mo |
| 10-Year Fixed | 5.34% | $1,762/mo |
What does a 3-year fixed cost on a typical Newfoundland and Labrador home?
With the minimum down ($18,321), you pay about $1,912/month and $41,974 in interest over the 3-year term. Lenders test your income at 6.04%.
See the full 3-year cost: down payment, insurance, interest and balance
Worked on Newfoundland and Labrador’s average price of $366,413 (Newfoundland and Labrador province-wide average residential price, NL Association of REALTORS® (via CREA)) at today’s best 3-year fixed rate of 4.04%, a 25-year amortization and Canadian semi-annual compounding. The term figures cover the 3-year term only.
| Minimum down (insured) | 20% down (uninsured) | |
|---|---|---|
| Down payment | $18,321 (5.0%) | $73,283 (20.0%) |
| Default insurance premium (added to the mortgage) | $13,924 | None |
| Mortgage amount | $362,016 | $293,130 |
| Monthly payment | $1,912/mo | $1,548/mo |
| Interest paid over the 3-year term | $41,974 | $33,987 |
| Principal repaid over the term | $26,863 | $21,751 |
| Balance owing at renewal (year 3) | $335,153 | $271,379 |
| Payment you must qualify at (6.04% stress-test rate) | $2,325/mo | $1,882/mo |
NL Registration Fees (no LTT) on this price: $1,564. Paid in cash at closing, on top of the down payment.
Qualifying: lenders test your income at 6.04% (the higher of your rate + 2% or 5.25%), not at 4.04%, so the qualifying payment above is the one your income must support, together with property tax, heating and other debts. Run your own numbers in the affordability calculator.
Is a 3-year fixed right for you in Newfoundland and Labrador?
Who it suits: Borrowers who want fixed-rate certainty but don't want to commit to five years when they expect rates to be lower at renewal. It's a popular middle path for renewers in a falling-rate environment and for anyone whose plans (a move, a growing family, a career change) sit roughly three years out.
What drives the rate, and what breaking it costs
What drives the rate. The 3-year fixed follows the 3-year Government of Canada bond. When markets price in rate cuts, the 3-year often sits below the 5-year fixed, letting you lock a payment now and re-shop sooner, closer to the bottom of the cycle.
Breaking it early. Like all fixed terms it uses the greater of three months' interest or IRD, but because the term is shorter the IRD window shrinks faster, so the penalty tends to be smaller than a 5-year fixed's by the back half of the term.
The most popular shorter fixed term, and rising whenever cuts are expected. You give up two years of locked certainty to keep the option of renewing into a lower rate sooner.
What’s specific to Newfoundland and Labrador?
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.
Newfoundland and Labrador lenders and closing costs
Top Newfoundland and Labrador lenders to compare. Newfoundland and Labrador’s 3-year fixed pricing is shaped by a distinct lender mix: RBC, Scotiabank, TD, Newfoundland and Labrador Credit Union, MCAP and others all bid for files here, and we shop the whole panel on one application.
Closing costs. On top of the rate, budget for nl registration fees (no ltt) — newfoundland and Labrador charges no Land Transfer Tax at all. You pay a Registration of Deeds fee instead: $100 where the value is $500 or less, and above that $100 plus $0.40 for each additional $100 or part of it. Note that the $5,000 maximum quoted by many calculators applies to MORTGAGES and charges, not to a conveyance — there is no cap on the deed side. Run the full number in our Newfoundland and Labrador land transfer tax calculator.
Why get your Newfoundland and Labrador 3-year fixed rate through a broker?
Because 100+ lenders compete for your file instead of one. We can help you save money.
100+ lenders compete, not one
A Newfoundland and Labrador bank shows you one 3-year fixed rate sheet. We put your file in front of 100+ lenders, including RBC and Scotiabank.
Broker pricing
The rate brokers get is typically 15-30 bps below a bank's posted rate. You can't get it at a branch.
Built for Newfoundland and Labrador
NL has thinner lender competition than larger provinces — Big-6 + monolines plus NL Credit Union dominate. Land transfer tax, rebates and local lender fit are built in.
Your rate held 90-120 days
A pre-approval locks your 3-year fixed rate while you shop, and many lenders honour a drop before you close.
No credit pull to start
We shop your Newfoundland and Labrador 3-year fixed rate and pre-qualify you without a hard credit check. FSRA-licensed advice in 15+ languages.
Bring us a written offer from a big bank. We’ll try to beat it. If we can’t, we pay you $500. Conditions apply. See the conditions
Whatever your situation in Newfoundland and Labrador
First home, renewal, refinance, self-employed or bruised credit: there’s a 3-year fixed path for your file, with the same 100+ lender network.
First-time buyers
5% down to your first Newfoundland and Labrador home, with FHSA + RRSP HBP optimization.
Refinancing
Tap your Newfoundland and Labrador home equity for renovations, debt consolidation, or investing.
Renewing
Don't auto-renew. Compare your bank's offer against the market.
Self-employed
Business-for-self files priced right, with A-lender, alt-A and private compared.
Bruised credit
B-lender and private paths now, with a mapped exit back to A-pricing.
New to Canada
Newcomer programs at the big banks; international credit accepted.
Newfoundland and Labrador 3-year fixed rates — FAQ
What is the best 3-year fixed mortgage rate in Newfoundland and Labrador right now?
The best 3-year fixed rate in our 100+ lender network for Newfoundland and Labrador is approximately 4.04% as of Oct 24, 2026, which is about $1,548/month on the Newfoundland and Labrador average price of $366,413 with 20% down over 25 years. Your personalized Newfoundland and Labrador rate depends on your file — income, credit, loan-to-value, and property type. We shop every lender on one application to find your lowest.
Are Newfoundland and Labrador 3-year fixed rates different from the rest of Canada?
The headline rate is set nationally, but what you can actually get in Newfoundland and Labrador differs: the provincial lender mix, Digital Government and Service NL (Real Estate Trading) regulation, and local credit unions all shape pricing and qualification. 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.
Should I choose a 3-year fixed in Newfoundland and Labrador?
Borrowers who want fixed-rate certainty but don't want to commit to five years when they expect rates to be lower at renewal. It's a popular middle path for renewers in a falling-rate environment and for anyone whose plans (a move, a growing family, a career change) sit roughly three years out. You give up two years of locked certainty to keep the option of renewing into a lower rate sooner.
How does breaking a 3-year fixed mortgage work?
Like all fixed terms it uses the greater of three months' interest or IRD, but because the term is shorter the IRD window shrinks faster, so the penalty tends to be smaller than a 5-year fixed's by the back half of the term.
What land transfer tax will I pay in Newfoundland and Labrador?
Newfoundland and Labrador charges no Land Transfer Tax at all. You pay a Registration of Deeds fee instead: $100 where the value is $500 or less, and above that $100 plus $0.40 for each additional $100 or part of it. Note that the $5,000 maximum quoted by many calculators applies to MORTGAGES and charges, not to a conveyance — there is no cap on the deed side.
Can I lock this Newfoundland and Labrador rate before I buy?
Yes. Most lenders offer a 90-120 day rate hold on a pre-approval, so a rising market can't catch you (and many honour a lower rate if they drop). Start a pre-approval (no bureau pull to begin) and we'll hold your best Newfoundland and Labrador 3-year fixed rate.
Lock your best Newfoundland and Labrador 3-year fixed rate.
Free, no credit pull to begin. We shop 100+ lenders and hold your rate while you shop for the home.