Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for Stratford homebuyers.
Based on $$395,000 average home price at current Prince Edward Island rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $19,750 | $15,010 | $390,260 | $2,250/mo | $1,914/mo |
| 10% | $39,500 | $11,021 | $366,521 | $2,113/mo | $1,798/mo |
| 15% | $59,250 | $9,401 | $345,151 | $1,990/mo | $1,693/mo |
| 20%NO CMHC | $79,000 | $0 ✅ | $316,000 | $1,822/mo | $1,550/mo |
The average home price in Stratford is approximately $395,000 as of 2026, representing a +4.1% change year-over-year.
Current 5-year fixed rates in Stratford start around 4.86%, while variable rates start around 3.31%. Credit unions in Prince Edward Island often offer rates 0.25–0.50% below major banks.
To afford a $395,000 home in Stratford with 10% down at 4.86%, you would need approximately $63,046/year gross income to meet the GDS ratio of 39%.
For a $395,000 home, the minimum down payment is 5% ($19,750). With 5% down, CMHC insurance of $15,010 is added to your mortgage.
With the Bank of Canada holding at 2.25%, variable rates (3.31%) are currently lower than 5-year fixed (4.86%). Variable saves money if rates stay flat or drop, but fixed gives payment certainty. Consult a mortgage broker for your specific situation.