Are home prices higher on Prince Edward Island?

PEI homes are typically more affordable than many Canadian provinces, especially in areas outside Charlottetown.

What down payment do most PEI buyers use?

Many first-time buyers on PEI use a 5–10% down payment, while move-up buyers often use 10–20% depending on their equity and financial goals.

Does this calculator include PEI property taxes?

Yes. You can adjust the property tax and insurance amounts in the calculator to estimate your total monthly housing cost on Prince Edward Island.

Can investors use this PEI mortgage calculator?

Absolutely. The calculator can be used to estimate payments for rental properties, cottages and second homes across PEI, helping investors understand their carrying costs.

PEI Mortgage Calculator – Plan Your Monthly Home Payments

📊 How to Use This PEI Mortgage Calculator

Estimate your monthly mortgage payment instantly
Adjust your down payment, interest rate, and amortization to see different scenarios
View payment estimates for homes across PEI, Charlottetown, Summerside and more
Understand how taxes and insurance affect your total monthly cost
Plan your budget before speaking with a lender or starting your home search
Perfect for first-time buyers, investors, and anyone planning a move to PEI

🏡 Example Mortgage Payment for a PEI Home

To give you a real-world idea, a $400,000 home on Prince Edward Island with a 10% down payment and a 5-year fixed rate around 5% generally results in a monthly payment of approximately $2,350–$2,550, depending on taxes and insurance.

This example helps PEI homebuyers understand a realistic budget before viewing properties or making an offer.

PEI Mortgage Calculator FAQ

Are home prices higher on Prince Edward Island?
PEI homes are typically more affordable than many Canadian provinces, especially in areas outside Charlottetown.
What down payment do most PEI buyers use?
Many first-time buyers use 5–10%, while move-up buyers often use 10–20%.
Does this calculator include PEI property taxes?
Yes — you can adjust tax and insurance amounts to see your total monthly housing cost.
Can investors use this tool?
Absolutely. It helps estimate payments for rental properties, cottages, and second homes across PEI.

Mortgage Calculator

Purchase Amount:

Interest Rate:

Mortgage Term (Years):

Payment Interval:

Down Payment:

Closing Costs ($):

Closing Costs (%):

Loan amount:

Interest rate:

Payment interval:

Mortgage term:

Payment:

Total payments:

Total amount paid:

Total interest paid:

This calculator is for information purposes only. Users should not use this calculator to make any financial decisions and should speak with their bank or mortgage broker. The website owner does not guarantee the accuracy or reliability of any information or calculations provided by this calculator. The website owner is not liable for loss or damage of any kind arising from the use of this tool.

Jodi Bernard - CENTURY 21 Northumberland Realty

Cell: 902-888-7842

Contact Me

Office Address:

629 WATER STREET EAST

Summerside, PE, C1N 4H8