Mortgage strategy for Memorial University physicians in St. John's, in one of the lowest closing-cost provinces in Canada, with no conventional land transfer tax.
A physician program could add
$0
to the home you can buy.
Estimate at 4.49%, stress tested at 6.49%, with 10% down, below the $1.5M insured limit.
Health Sciences Centre is in St. John's, Newfoundland and Labrador. Affiliation: Memorial University. Other hospitals nearby: St. Clare's Mercy Hospital and QEII Health Sciences Centre.
Price: CREA MLS Home Price Index, St. John's, NL area, as published in the LSTAR July 2026 release. Tax: Newfoundland and Labrador Registry of Deeds, fee schedule. Rates reviewed August 2026.
Physician mortgages in St. John'sHighest purchase price, 10% down, no student debt, 4.49% stress tested at 6.49%, kept below the $1.5M insured limit. Resident pay: PARNL agreement, schedule A (NL Treasury Board), in effect July 2023. The most out-of-date grid in Canada. No newer agreement is listed by the province. Treat these figures as a floor. Program figures: Physician projected-income program factsheet, September 2023 edition.
Does St. John's have a land transfer tax?
Newfoundland and Labrador does not charge a conventional land transfer tax. Only a modest registration of deeds fee applies, so closing costs are far lower than Ontario or BC.
Closing costs in St. John'sIs St. John's affordable for physicians?
Yes. The St. John's benchmark price was $427,800 in July 2026, and Newfoundland and Labrador charges a registration fee instead of a land transfer tax, about $1,809 at that price.
