Mortgage strategy for physicians at PEI's main acute care site, where qualifying first-time buyers often pay no property transfer tax at all.
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.
Queen Elizabeth Hospital is in Charlottetown, Prince Edward Island. Affiliation: Health PEI / Dalhousie-affiliated. Other hospitals nearby: Prince County Hospital and QEII Health Sciences Centre.
Price: Prince Edward Island Real Estate Association, MLS HPI. Tax: Prince Edward Island, real property transfer tax. Rates reviewed August 2026.
Physician mortgages in CharlottetownHighest purchase price, 10% down, no student debt, 4.49% stress tested at 6.49%, kept below the $1.5M insured limit. Resident pay: Maritime Resident Doctors 2024-2027 agreement, schedule A, in effect July 2026. One grid covers all three provinces. The PGY-8 cell is blank in the signed agreement for the current years. Program figures: Physician projected-income program factsheet, September 2023 edition.
Do first-time buyers pay transfer tax in PEI?
Qualifying first-time buyers are exempt from PEI's 1% real property transfer tax. To qualify you must have lived in PEI for six months or filed PEI tax returns in two of the last six years, which matters if you are moving to the Island for the job.
Closing costs in CharlottetownIs Charlottetown affordable for physicians?
Yes. The province-wide PEI benchmark price was $388,400 in July 2026, and qualifying first-time buyers pay no transfer tax on top.
