Mortgage broker in Charlottetown, Prince Edward Island
Charlottetown is the capital and PEI’s largest city, with UPEI, Holland College and a bioscience sector of 2,200 jobs. The board publishes no Charlottetown price, so the figures here use the PEI average of $409,925.
Who is a mortgage broker for Charlottetown?
Prince Edward Island has no mortgage-broker licensing regime. Riley Oickle, Associate Mortgage Broker (Nova Scotia licence 3001134) with Indi, The Independent Mortgage Company Ltd., arranges Charlottetown mortgages remotely: 33 lenders, no fee on a standard residential mortgage, and $20,496 minimum down on the September 2026 Prince Edward Island average price of $409,925.
What buying costs in Charlottetown
The board publishes no Charlottetown price, so this is worked on the September 2026 Prince Edward Island average. Your own price, assessment and lawyer change the figures.
| Prince Edward Island average price | $409,925 | Prince Edward Island Real Estate Association, September 2026 |
|---|---|---|
| Minimum down payment | $20,496 | Insured: 5% of the first $500,000 and 10% of the remainder (1–2 units) |
| Real property transfer tax | $4,099 | 1% of the greater of the price and the assessed value; $0 for a first-time buyer who qualifies, with no price cap |
| Registry of Deeds fees | $927 | $463.65 for the deed and $463.65 for the mortgage (Registry Act, s. 50.1) |
| Legal, appraisal and inspection, est. | $4,099 | Riley’s rule of thumb, 1% of the price; your lawyer quotes the real figure |
| Cash to buy | $29,622 | The CMHC premium (4%) is added to the mortgage, not paid at closing |
| Property tax, first year, est. | $6,846 | The City’s 2026–27 rate of $0.67 per $100 plus the provincial $1.70 less the $0.70 resident credit, on an assessment equal to the price. An unmetered single-family home also pays $782.75 a year for water and sewer (2026–27). |
Buying in Charlottetown
Charlottetown leans to renting: 45.8% of households owned their home in 2021, a lower share than in Moncton, Fredericton, Saint John or St. John’s, and 43.5% lived in a single-detached house. Half the occupied homes, 50.1%, were built in 1980 or earlier.
Property tax comes in two parts. The City’s 2026–27 residential rate is $0.67 per $100, unchanged; the Province adds $1.70, less a $0.70 credit for owners living in PEI. A resident owner therefore pays about $6,846 a year on $409,925.
An unmetered single-family home also pays $782.75 a year for water and sewer. Secondary and garden suites must be registered with the City’s Planning and Heritage department, which matters if rent from a suite is part of how you qualify.
Go deeper
The detail, if you want it
Income and qualifying in Charlottetown
The median household income was $66,000 in 2020, against $91,000 in Stratford and $85,000 in Cornwall. On the PEI average, the insured mortgage at 5% down is $405,006, so the household income test decides more Charlottetown files than the down payment does.
The City targets bioscience, financial and business services, information technology and cyber security, and tourism, beside provincial and federal offices, UPEI and Holland College. A government or university salary is simple to qualify on; seasonal tourism income is averaged over two years of returns.
How a Charlottetown file closes
PEI’s 1% transfer tax is charged on the greater of the price and the assessment — $4,099 on the PEI average — but a first-time buyer who qualifies pays none, at any price. Registry of Deeds fees on the deed and the mortgage add $927.
A lawyer closes. Title is searched and the deed recorded at the Registry of Deeds office in Charlottetown, which serves Kings and Queens counties, along with the purchaser’s affidavit and the transfer tax.
The City’s Flood Protection Rebate pays 75% of a sump pump, battery backup or backwater valve, up to $1,000, or 100% up to $1,500 for households earning $75,000 or less, approved before you buy the device. Its heritage program grants 30% of exterior work on designated properties, up to $5,000.
Around Charlottetown: Stratford and Cornwall
Stratford
Stratford grew 12.5% between 2016 and 2021, to 10,927 people, and set its 2026 residential rate at $0.51 per $100. The town-owned Stratford Utility Corporation supplies water and sewer, with no rate increase for 2026–27. It is newer and owner-occupied: 71.0% of households owned, and 27.2% of homes predate 1981.
Cornwall
Cornwall grew 22.9% to 6,574 people between 2016 and 2021 and charges $0.46 per $100 on homes for 2026. The town offers a free residential water audit and, since April 2026, a water efficiency rebate and exchange program. Two households in three (66.9%) owned their home.
How it works
From first call to keys, in four steps
-
A 15-minute call
You say what you’re trying to do and roughly what you earn.
Riley tell you the price a lender will support, the cash you need to close, and what to fix first.
-
Documents and pre-approval
You send the short list through a secure upload link.
Riley package the file and come back with a pre-approval letter and a rate held 90 to 120 days.
-
Lenders, side by side
You read the comparison and pick.
Riley place one application with banks, credit unions and monolines, and show you every answer.
-
Approval, lawyer, keys
You sign with your own local lawyer.
Riley hold the lender, appraiser and lawyer to the closing date.
Why a broker
Licensed, independent, paid by the lender
- Licensed across Atlantic Canada Indi Mortgage brokerage licences in NS, NB and NL (PEI has no licensing regime); Riley Oickle, Associate Mortgage Broker, NS 3001134
- $0 broker fee On a standard residential mortgage the lender pays, not you
- 33 lenders, one application Banks, credit unions, monolines; one credit check
Questions people ask
Do you need a licensed mortgage broker in Prince Edward Island?
Prince Edward Island does not license mortgage brokers. Riley Oickle is licensed in Nova Scotia (3001134) with Indi, The Independent Mortgage Company Ltd. (Nova Scotia brokerage licence 3000688). Under that Nova Scotia licence, any borrower fee must be disclosed in writing first and cannot be collected before the lender confirms funding.
What is the property tax rate in Charlottetown?
For 2026–27 the City’s residential rate is $0.67 per $100 of assessment, unchanged. The provincial rate is $1.70 with a $0.70 credit for PEI residents, so a resident owner adds a net $1.00 per $100.
Do first-time buyers pay land transfer tax in Charlottetown?
Not if every buyer on the deed qualifies for PEI’s first-time buyer exemption, which has no price cap. Otherwise it is 1% of the greater of the price and the assessment: $4,099 on the PEI average.
What does a house cost in Charlottetown?
The board publishes no Charlottetown figure. The PEI average sale price was $409,925 in September 2026 and the PEI benchmark $377,900; the minimum down payment on the average is $20,496.
Still unsure? Ask me directly.
If your question isn't here, your situation is probably specific. Fifteen minutes on the phone beats reading another page, and nothing is pulled on your credit.
(902) 298-0218 · 8:00 am to 10:00 pm Atlantic, every day
Buying, renewing or refinancing in Charlottetown?
Send the listing or your renewal statement. You get back the cash to close, what the file needs and which lenders fit it, within a business day, at no fee.
(902) 298-0218 · 8:00 am to 10:00 pm Atlantic, every day