Mortgages Prince Edward Island - Compare Providers
| Lender | Loan amount | Rate | Term | Details |
|---|---|---|---|---|
 Spring Financial Personal Loan | $500 – $35,000 | 9.99% – 34.95% | 6 – 84 months | Learn more |
 LendDirect Personal Line of Credit | Up to $10,000 | 34.99% | Open-ended | Learn more |
 Mogo Finance Line of Credit | Up to $5,000 | 34.37% | Not listed | Learn more |
 easyfinancial Personal Loan (Unsecured) | $500 – $150,000 | 9.99% – 34.95% | 9 - 240 months | Learn more |
 Fairstone Financial Unsecured Personal Loan | Up to $50,000† | 19.99% – 34.99%* | 6 – 120 months | Learn more |
 MDG Cash Installment Loan | Up to $20,000 | 19.8% – 34.99% | 36 – 85 months | Learn more |
 Money Mart Installment Loan | $500 – $25,000 | 29.9% or 34.28% | 6 – 84 months | Learn more |
 SkyCap Financial Personal Loan | $500 – $100,000 | 12.99% – 34.99% | 9 – 60 months | Learn more |
 Magical Credit Magical Installment Loans | up to $20,000 | 19.99% – 35% | 12 - 60 months | Learn more |
 LoanMeNow Personal Loan | $500 – $1000 | Up to 32% | 3 months | Learn more |
 Green Loans Personal Loan | Up to $1,000 | Up to 35% | Not listed | Learn more |
 goPeer Personal Loan | $1,000 – $35,000 | 8.99% – 34.99% | 36 or 60 months | Learn more |
 GoLoans Installment Loan | $500 – $5,000 | Up to 32% | 3 – 4 months | Learn more |
 LendCare Installment Loan | $500 – $15,000 | 9.9% – 29.9% | 12 – 60 months | Learn more |
 Ledn Bitcoin-Backed Loan | $1,000 – $1,000,000 | 10.4% | 12 months | Learn more |
 Borrowell Personal Loan | Up to $35,000 | Starting at 12.99% | Up to 60 months | Learn more |
 Windmill Microlending Professional development loans | $15,000 | 6.7% | Up to 60 months | Learn more |
 Parachute Personal Loan | Up to $25,000 | 24.99% – 29.99% | 30 or 60 months | Learn more |
 Helium Loans Personal Loan | $500 – $50,000 | Varies | 6 – 60 months | Learn more |
 Cash Depot Short-Term Loan | $300 – $3000 | 18% + fees | 6 months | Learn more |
 Financeit Personal Loans | $500 – $100,000 | Starting at 12.99% | Up to 60 months | Learn more |
 SimplyBorrowed Personal Installment Loan | $1,500 – $10,000 | Not listed | 12 – 60 months | Learn more |
 LM Credit Unsecured Personal Loan | $500 – $15,000 | 10.99% – 34.99% | 9 – 60 months | Learn more |
 Dashloans Personal Loan | Up to $1,250 | Up to 32% | 90 – 150 days | Learn more |
 Captain Cash Personal Loan | $500 – $1000 | 23% | 90 – 150 days | Learn more |
 Lamina Personal Loan | $300 – $1500 | Starting at 18% | 3 – 7 months | Learn more |
 DMO Crédit Personal Loan | $300 – $1,000 | 28% – 35% | 90 days – 16 weeks | Learn more |
 Credit2Go Short Term Loan | $250 – $1,500 | 23.99% – 29.99% | 3 – 4 months | Learn more |
 Eastern Loans Personal Loan | $500 – $750 | ~23% | 3+ months | Learn more |
 Progressa Debt Consolidation Loan | $1,000 – $15,000 | 19% – 34.95% | 12 – 60 months | Learn more |
 LM Financial Personal Loan | Up to $15,000 | Not listed | Not listed | Learn more |
 Iceberg Finance Personal Loans | $1,000 – $35,000 | 12.99% – 29.99% | 12 – 84 months | Learn more |
 Afterpay Buy Now Pay Later | Varies | 0% | 6 or 8 weeks | Learn more |
 FlexMoney Installment Loan | $500 – $15,000 | Starting at 18.9% | 6 – 60 months | Learn more |
 Deposit My Cash Now Micro Loan | $300 – $3000 (first-time clients can receive up to $1,000) | 18% + fees | 6 months | Learn more |
 My Next Pay Micro Loan | $300 – $3000 (first-time clients can receive up to $1,000) | 18% + fees | 6 months | Learn more |
 Northstar Brokers Micro Loan | $300 – $3000 (first-time clients can receive up to $1,000) | 18% + fees | 6 months | Learn more |
 City Lending Centers (CLC) Micro Loan | $150 – $1,600 | 10 – 35% | 3 – 6 months | Learn more |
 APX Lending Crypto-Backed Loan | $10,000; no maximums | From 9.99% | 3 - 60 months | Learn more |
| Lender | Loan amount | Rate | Term | Details |
|---|---|---|---|---|
 iCash Payday Loan | Up to $1,500 | $14 per $100 | Up to 62 days | Learn more |
 GoDay Payday Loan | $100 – $1,500 | $14 per $100 | Next pay date, 14 – 30 days | Learn more |
 North’n Loans Payday Loans | $100 – $1,500 | $14 per $100 | 14 – 90 days | Learn more |
| Lender | Loan amount | Rate | Term | Details |
|---|---|---|---|---|
| Spring Financial Spark Loan | $100 – $2,500 | 28.9% (about 29.9% APR with the $1 access fee) May decrease as you unlock higher loan amounts | 12 months | Learn more |
 Bree Cash Advance | Up to $750 | 0% | Up to 90 days | Learn more |
 Nyble Line Of Credit | $30 – $250 | 0% | Not listed | Learn more |
 KOHO Cash Advance | Up to $500 | 0% | Open-ended | Learn more |
| Lender | Loan amount | Rate | Term | Details |
|---|---|---|---|---|
 Canada Drives Car Loan | Up to $100,000 | 3.99% - 19.9% | 24 -96 months | Learn more |
 Clutch Car Loan | Varies | Varies | 24 – 96 months | Learn more |
 SafeLend Auto Loan Refinance | Min $10,000 | 6.93% – 19.99% | 18 – 96 months | Learn more |
| easyfinancial Car Loan | $500 – $150,000 | 9.99% – 34.95% | 9 - 240 months | Learn more |
| Fairstone Financial Car Loan | Up to $50,000† | 19.99% – 34.99%* | 6 – 120 months | Learn more |
 Car Loans Canada Car Loan | $5,000 – $65,000 | Up to 29.99% | 12 – 96 months | Learn more |
 Bryden Financing & Auto Sales Auto Financing | Not listed | Not listed | Not listed | Learn more |
 Auto Credit Deals Car Loan | $5,000 – $75,000 | Not listed | 12 – 96 months | Learn more |
| LendCare Car Loan | Up to $50,000 | Not listed | Up to 60 months | Learn more |
| Helium Loans Auto Loan | $500 – $50,000 | Varies | 6 – 60 months | Learn more |
 Carloans411 Auto Loan | Not listed | Not listed | 12 – 84 months | Learn more |
 2nd Chance Automotive Car Loan | Not listed | Starting at 4.2% | Not listed | Learn more |
 Prefera Finance Recreational Vehicle Loan | Not listed | Not listed | Not listed | Learn more |
 Royal Bank of Canada (RBC) Auto Loan | Starting $7,500 | Not listed | 12 – 96 months | Learn more |
| Min $7,500 | Not listed | 12 – 96 months | Learn more | |
 Desjardins Auto Loan | $7,500 + | Not listed | 6 – 96 months | Learn more |
 Auto Capital Canada Car Loan | Not listed | Not listed | Not listed | Learn more |
 Canada Auto Finance Auto Loans | $5,000 – $45,000 | 4.90 % – 29.95% | Not listed | Learn more |
 Coast Capital Savings Car Loans | Not listed | Not listed | 24 – 84 months | Learn more |
 National Powersports Financing Vehicle Financing | Not listed | Not listed | Not listed | Learn more |
 Rifco Auto Loan | Not listed | Starting at 12.9% | Not listed | Learn more |
 National Bank Auto Loan | Not listed | Not listed | up to 96 months | Learn more |
 Scotiabank Auto Loan | Up to $1,000,000 | Not listed | Up to 15 years | Learn more |
 Credit River Capital Inc Auto Loan | Not listed | Not listed | Not listed | Learn more |
 DealerPlan Financial Auto Loans | Not listed | Not listed | Not listed | Learn more |
 iA Auto Finance Auto Loan | Not listed | Starting at 10.99% | Not listed | Learn more |
 Loans2Go Auto Loan | Not listed | Not listed | Not listed | Learn more |
 LMG Finance Auto Loan | Not listed | Not listed | Not listed | Learn more |
 Toyloan Auto Loan | Not listed | Not listed | Not listed | Learn more |
| Iceberg Finance Auto Financing | $1,000 – $35,000 | 12.99% – 29.99% | 12 – 84 months | Learn more |
 TD Bank Car Loan | Up to $50,000 | Not listed | Up to 96 months | Learn more |
 Santander Car Loan | Not listed | Not listed | Up to 96 months | Learn more |
| Lender | Loan amount | Rate | Term | Details |
|---|---|---|---|---|
 Alpine Credits Home Equity Loan | $10,000 – $500,000 | Starting at 10% | Not listed | Learn more |
 nesto Mortgage Loans | Min $110,000 | 4.14% – 6.29% | 24– 120 months | Learn more |
 Frank Mortgage Mortgage Loans | $100,000 – $2,000,000 | Varies | 12 – 60 months | Learn more |
 Lotly Home Equity Loan | $5,000 + | 6% – 16% | 12 – 60 months | Learn more |
 Neo Mortgage Neo Mortgage™ | Not listed | From 3.60% | 6 – 60 months | Learn more |
 Dominion Lending Center Mortgage | Not listed | Not listed | Not listed | Learn more |
 Mortgage Architects Mortgage | Not listed | 4.54% – 7.49% | 6 – 120 months | Learn more |
 Mortgage Alliance Mortgage | Not listed | 4.19% – 6.04% | 12 – 120 months | Learn more |
 First National Financial LP Residential Mortgage | Not listed | 4.49% – 6.63% | 1 – 10 years | Learn more |
 CHIP Reverse Mortgage Reverse Mortgage | Up to 55% of home value | Not listed | 12 – 60 months | Learn more |
 Tangerine Mortgage | $50,000+ | Not listed | 12 – 120 months | Learn more |
 True North Mortgage Mortgage | $150,000 – $1,500,000 | 2.99% – 5.49% | 6 – 60 months | Learn more |
 Verico Mortgage | Not listed | Not listed | Not listed | Learn more |
 Peoples Bank Mortgages | Not listed | 4.50% – 5.97% | 12 – 60 months | Learn more |
| Provider | Services | Details |
|---|---|---|
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| Lender | Loan amount | Rate | Term | Details |
|---|---|---|---|---|
 SharpShooter Funding Business Loan | $1,000 – $300,000 | 5.49% – 22.79% | 12 – 120 months | Learn more |
 Merchant Growth Term Financing | $5,000 – $800,000 | Not listed | 6 – 24 months | Learn more |
 OnTap Capital Business Financing | $10,000 – $2,000,000 | 10%+ | Up to 36 months | Learn more |
 Primed Loans Business Financing | $10,000 – $20,000,000 | Not listed | Not listed | Learn more |
 Bizcap Working Capital | Up to 2 million | Not listed | Flexible | Learn more |
 Driven Business Loan | $10,000 – $300,000 | Not listed | 3 – 24 months | Learn more |
 Journey Capital Business Term Loan | $5,000 – $300,000 | 9% – 35% | Varies by product | Learn more |
 Lending Loop Small Business Loan | $ 1,000 – $500,000 | 4.96% – 24.93% | 1 – 60 months | Learn more |
 IOU Financial Term Loan | $15,000 – $1,500,000 | Not listed | 6 – 36 months | Learn more |
 iCommission Commission Advance | Up to $40,000 | $0.75 per $1,000 per day | Not listed | Learn more |
| Helium Loans Business Term Loan | $500 – $50,000 | Varies | 6 – 60 months | Learn more |
 iCapital Commercial Loan | Up to $250,000 | Not listed | 3 – 24 months | Learn more |
 Canadian Equipment Finance Equipment Loan | $50,000 – $12,000,000 | Not listed | 24 – 96 months | Learn more |
 Easylease Corp Equipment Loan | Up to $5,000,000 | Not listed | 24 – 72 months | Learn more |
 Econolease Financial Services Inc. Equipment Leasing | $1,000 – $1,000,000 | 6% – 20% | Not listed | Learn more |
 FundThrough Invoice Financing | $500 – $50,000 | 2.75% – 8.25% | 12 week cycles | Learn more |
 Lease Link Working Capital Loan | Up to $250,000 | Not listed | Up to 48 months | Learn more |
 Money in Motion Equipment Loan | $10,000 – $1,000,000 | 4% – 14% | 12 – 84 months | Learn more |
| Royal Bank of Canada (RBC) Business Loan | Starting at $5,000 | Not listed | Up to 84 months | Learn more |
 Canadian Imperial Bank of Commerce (CIBC) Business Loan | Up to $1,000,000 | Not listed | Up to 15 years | Learn more |
 BarterPay Barter Loan | BP 2,500 – BP 100,000 | Not listed | 6 – 60 months | Learn more |
| National Bank Business Loan | Up to $1,000,000 | Not listed | Not listed | Learn more |
 B2B Bank Investment Loan | $10,000 – $300,000 | Not listed | Not listed | Learn more |
 Bank of Montreal (BMO) Business Loan | Up to $500,000 | Not listed | Up to 15 years | Learn more |
 BDC Business Loan | Up to $100,000 | Not listed | 5 – 8 years | Learn more |
| Scotiabank Business Loan | Up to $1,000,000 | Not listed | Up to 15 years | Learn more |
 CanaCap Merchant Cash Advance | Up to $250,000 | Not listed | Not listed | Learn more |
 Laurentian Bank of Canada Business Loan | Up to $250,000 | Not listed | Up to 10 years | Learn more |
 Essex Lease Financial Corporation Equipment Loan | Not listed | Not listed | Not listed | Learn more |
 Export Development Canada Commercial Financing | Not listed | Not listed | Not listed | Learn more |
 Leaseline Equipment Leasing | Not listed | Not listed | 24 – 60 months | Learn more |
 Peel Financial Equipment Loans | Not listed | Not listed | Not listed | Learn more |
 Loop Business Line of Credit | Up to $1,000,000 | From 1.2% per month | Not listed | Learn more |
| TD Bank Business Loan | Not listed | Not listed | 12 – 60 months | Learn more |
 2M7 Financial Solutions Merchant Cash Advance | $1000 – $250,000 | Not listed | Not listed | Learn more |
| Lender | Loan amount | Rate | Term | Details |
|---|---|---|---|---|
 BHM Financial Title Loan | Up to $50,000 | Not listed | Not listed | Learn more |
Rates last checked: October 2026
Buying a new home in Prince Edward Island can be an incredibly exciting time. You get to choose the exact home you want in the location that best suits the life you live. There is nothing quite like moving to a new home that’s all yours. However, it is also one of, if not the biggest purchase you will ever make and as a result, the process comes with its own set of struggles and stress.
Credit Score Required For Mortgages in PEI
Part of the stress related to the home buying experience comes from getting qualified for a mortgage. A mortgage is a large loan that is often worth hundreds of thousands of dollars, so as you can imagine, your lender will want to take all the necessary steps to ensure you are a suitable borrower.
One of the biggest deciding factors for the type of mortgage you can get approved for (if you can even get one at all) is your credit score. In Canada, your credit score can be anywhere from 300 to 900. The higher your credit score, the better interest rate and overall loan that you will get.
So how high of a credit score do you need to get a mortgage in Prince Edward Island? Well, that will depend on your lender. Anything under 600 is considered a “bad” score, and anything over 750 is seen as “excellent”. Generally, as long as your score is over 650, you shouldn’t have a problem getting a mortgage.
Want to know how you can improve or fix your credit score? Find out here.
Mortgage Insurance Rules
If you have 20% to put down for a down payment, you do not have to worry about mortgage insurance. However, if you can’t, you will be subject to this mortgage insurance. This insurance (which is often known as CMHC insurance) is required for those with a down payment between 5% and 19.99%.
This insurance basically helps protect lenders in the case of loan defaults and will cost borrowers about 2-4% of their mortgage amount. However, it helps people who can’t get a huge down payment to still be able to become homeowners.
Look here if you’d like to know how to borrow money for a down payment.
However, there are some rules and requirements that you must meet in order to qualify for mortgage insurance. These include:
- The maximum amount of an amortization period for an insured mortgage is 25 years, so you are not allowed a 30-year mortgage if you require mortgage insurance.
- If the purchase price of the home is between $500,000 and $999,999, a higher down payment is required. There is a required 5% for the first $500,000, and then 10% of the remaining amount. So if you are getting a large or expensive home, be aware of this rule, or you might not be saving enough.
- If you are looking to buy a home over a million dollars, you need at least 20% for a down payment, or you won’t be able to purchase the home.
If you are ever curious about how much you will be paying in mortgage insurance on a mortgage in PEI, there are several online calculators that can help you out. While it is normally a small amount in the grand scheme of things, some people might be better off waiting until they have a 20% down payment before trying to secure a mortgage.
Mortgage Pre Approval
Before you actually start your house hunting journey, you will want to go through “pre-approval”. This process is when a lender will look at your finances and give you an idea of how much they might loan you and at what interest rate. This will help you know what sort of mortgage you will be able to get, which can help a ton with your peace of mind while searching for a home.
While it’s optional, it can help show sellers that you mean business, are serious about buying and are a good candidate to receive financing. Pre-approval also helps you be able to figure out your payments, and some lenders might even be willing to “lock in” an interest rate for you.
Want to learn about personal loans in Prince Edward Island? Check this out.
Frequently Asked Questions
Where can I get a mortgage in Prince Edward Island?
The primary types of mortgage lenders are banks, credit unions and caisses populaires. Alternative options include mortgage, insurance, trust, and loan companies. They each offer different interest rates and contract types depending on the client. A licensed mortgage broker would be a good place to start. They have access to a wider range of lenders that don’t work directly with borrowers and will find the option best suited for you. They usually work on a commission from the lender and don’t take an upfront fee for their services.
What do I need to get a pre-approved mortgage?
A pre-approval on your mortgage can make the whole process a lot easier. You’ll get to know in advance how much you can qualify for and lock in the interest rate for up to 4 months. This means you can start planning your budget while shopping for your new home. Also, a seller will take you more seriously with a pre-approval, since you’ve proven you can seal the deal. To get a pre-approved mortgage, your credit history will need to be checked. In addition, the lender may request documents such as proof of employment, proof of down payment, and information about your assets and debts.
Can I still qualify for a mortgage with bad credit?
Lenders may decline to approve your mortgage if you have a bad credit history. However, some lenders will still consider approving you with some conditions. For example, you might only qualify for a lower amount or higher interest rate. In addition to this, you may be required to bring on a co-signer or make a larger down payment. Fixing errors on your credit report might also just be enough to make a difference.
Getting the Best Mortgage Possible
If you are looking for a mortgage in Prince Edward Island, look no further than Loans Canada. We are confident we can help you get the best mortgage possible for your needs.
