What is a Yellowknife mortgage calculator?
Northwest Territories are notable for the median household incomes above the national average, and Yellowknife is not the exception. In 2021, the median after-tax annual household income in Yellowknife stood at $119,793. Housing costs, in turn, are lower than the national average: in March 2025, the average home sale price is $372,300. So, compared to other regions, Yellowknife residents can enjoy way more affordable mortgages.
If you reside in Yellowknife and are looking for a mortgage, you can reach out to the following financial institutions:
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Banks like First Nations Bank of Canada, RBC, BMO, Scotiabank, CIBC, TD Canada Trust, Manulife, HSBC, Tangerine Bank, and Laurentian Bank.
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Mortgage brokerage firms like Breezeful, Dominion Lending Centres, Centum, and Nesto.
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Non-bank lenders like Fairstone and Money Mart.
In Yellowknife, there are both open and closed mortgages are available at fixed and variable rates. Interest rates for a 5-year fixed-rate mortgage range from 5.19% to 5.64% across Northern Territories and Yellowknife in particular, with the average rate being 5.42%.
How to use a Yellowknife mortgage calculator?
Estimating your regular payment amount is simple with a Yellowknife mortgage calculator — just enter the values for the key mortgage parameters such as the purchase price, down payment amount, mortgage term, interest rate, amortization period, and payment frequency into the designated fields. Once you do, you will see the estimated regular payment amount, along with the principal and interest payments and the total payments made over the term.
Let’s illustrate how a Yellowknife mortgage calculator works with an example. Say you are financing a house priced at $300,000 and making a $130,000 down payment. This way, you are borrowing $100,000. If the term is 5 years, the interest rate is 5.20%, and the amortization period is 15 years, your monthly payment will be $1,597. You will also see the estimates for the principal and interest paid over the term — $50,460 and $45,341, respectively.
Benefits of a Yellowknife mortgage calculator
A Yellowknife mortgage calculator will give you an idea of what your regular payments may look like. In addition, you can compare different mortgage options by adjusting the values for the mortgage parameters used as input. After that, you can choose the mortgage solution that meets your needs and budget constraints.
