Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for Yarmouth homebuyers.
Based on $$195,000 average home price at current Nova Scotia rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $9,750 | $7,410 | $192,660 | $1,113/mo | $947/mo |
| 10% | $19,500 | $5,441 | $180,941 | $1,045/mo | $889/mo |
| 15% | $29,250 | $4,641 | $170,391 | $984/mo | $838/mo |
| 20%NO CMHC | $39,000 | $0 ✅ | $156,000 | $901/mo | $767/mo |
The average home price in Yarmouth is approximately $195,000 as of 2026, representing a +2.2% change year-over-year.
Current 5-year fixed rates in Yarmouth start around 4.88%, while variable rates start around 3.33%. Credit unions in Nova Scotia often offer rates 0.25–0.50% below major banks.
To afford a $195,000 home in Yarmouth with 10% down at 4.88%, you would need approximately $31,200/year gross income to meet the GDS ratio of 39%.
For a $195,000 home, the minimum down payment is 5% ($9,750). With 5% down, CMHC insurance of $7,410 is added to your mortgage.
With the Bank of Canada holding at 2.25%, variable rates (3.33%) are currently lower than 5-year fixed (4.88%). Variable saves money if rates stay flat or drop, but fixed gives payment certainty. Consult a mortgage broker for your specific situation.