Licensed in Prince Edward Island
PEI mortgage broker
Buying your first Island home, reviewing a renewal or planning a refinance? Work directly with Rahul Bedi, a licensed Prince Edward Island mortgage broker, to connect your budget with suitable lender options. Service is available in English, Hindi and Punjabi; no PEI licence number is shown.
Virtual service from the Bedford, Nova Scotia office: 1746 Bedford Hwy Unit 102, Bedford, NS B4A 1G2. No PEI branch address.
Mortgage guidance for your next step
- First-time buyers: separate your down payment, assistance eligibility and closing costs before making an offer.
- Renewals: compare the offer with suitable alternatives, including switch costs, term flexibility and the remaining repayment schedule.
- Refinances: weigh equity access against penalties, fees and the total cost of a longer repayment period.
- Self-employed borrowers: review personal and business income documents rather than assuming a tax-return figure tells the whole story.
- Newcomers: discuss residency status, employment, credit evidence and down-payment history early. Lender and insurer conditions vary.
For standard brokered files the lender pays the brokerage. Any borrower-paid fees on private or specialty financing must be explained before you commit. Approval always depends on the complete application and property, not on a market statistic or a provincial program alone.
PEI housing market: October 2026
October 2026 (CREA / PEI Real Estate Association): 187 home sales, down 11.8% year over year; MLS® HPI benchmark price $379,100, up 0.8% year over year; average sale price $387,808, down 5% year over year. CREA / PEI Real Estate Association report.
These province-wide measures are context, not a valuation for a home in Charlottetown, Summerside or another community. The benchmark tracks a typical property; the average changes with the mix of homes sold. Your budget still depends on your income, debts, down payment, the property and lender requirements.
PEI first-time buyer transfer-tax exemption
PEI real property transfer tax is 1% of the greater of purchase price or assessed value. It is waived if that base is $30,000 or less. Qualifying first-time home buyers pay no transfer tax, with no price cap: the former $200,000 ceiling was removed October 1, 2016.
All purchasers on the deed must qualify. They must occupy the home as their principal residence for at least 183 consecutive days after registration. Provincial citizenship or permanent-resident status, prior ownership, prior exemption and residency criteria also apply. The Province's definition is not interchangeable with the down payment program or federal first-time buyer definitions.
If the residency requirement is not met at registration, a qualifying buyer may need to pay tax at closing and seek a refund after the required occupancy. Failing the occupancy requirement can mean forfeiting an exemption and paying the tax. Have your lawyer confirm the declaration, eligibility and timing before setting your cash-to-close budget.
Sources reviewed November 10, 2026: PEI Finance guide RPTTG:101 (October 2016) and provincial first-time home buyer exemption rules.
PEI Down Payment Assistance Program
Finance PEI offers eligible first-time buyers a conditionally interest-free loan of up to 5% of the purchase price, to a maximum of $17,500. The home price must not exceed $350,000 and total annual household income must be $110,000 or less. It is assistance toward the down payment, not a grant or money for closing costs.
An approved default-insured first mortgage from a recognized financial institution is required. The PEI property must be an owner-occupied principal residence; rental, seasonal and recreational properties are not eligible. Citizenship or permanent-resident status, first-time buyer eligibility, satisfactory credit and inability to provide the down payment without assistance also matter.
Applications are accepted until the allocated budget is committed or March 31, 2031, whichever comes first. Funding is first-come, first-served for complete applications. Interest forgiveness is conditional on repayment; review the loan agreement rather than assuming the loan is unconditional free money.
Terms reviewed November 10, 2026: Finance PEI Down Payment Assistance Program. Confirm current program terms directly with the Province before relying on assistance, since rules and funding availability change.
Read the full PEI first-time home buyer checklist and guide.
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Frequently asked questions
Is Rahul licensed in Prince Edward Island?
Yes. Rahul is licensed in Prince Edward Island; no PEI licence number is shown. He works with Island clients directly, with service in English, Hindi and Punjabi.
Where is your PEI mortgage office?
There is no PEI branch. The office is 1746 Bedford Hwy Unit 102, Bedford, NS B4A 1G2. PEI clients work virtually by phone, video, secure document upload and electronic signatures.
Do you help with renewals and self-employed income as well as first homes?
Yes. Purchases, renewals, refinances, self-employed and newcomer applications are reviewed against the borrower's income, debts, credit, property and lender requirements. Provincial buyer programs are a separate eligibility decision.
Are the October market figures specific to Charlottetown or Summerside?
No. The October 2026 CREA / PEI Real Estate Association figures shown here are province-wide, not city prices or an appraisal of an individual property.
Do all PEI first-time buyers automatically get assistance and a tax exemption?
No. Down payment assistance and the transfer-tax exemption have separate definitions and conditions. All deed purchasers must qualify for the tax exemption and meet the 183-consecutive-day occupancy requirement. Confirm current program terms with the Province and tax eligibility with your lawyer.
Talk through your PEI mortgage with Rahul
Bring your plans, your questions and any documents you already have. A conversation can help separate mortgage qualification, provincial assistance and the closing-cost budget. No pressure.