Affordable Home Ownership

Look to Scotiabank for Mortgage solutions that make it easier to own the home you want.

The down payment doesn’t have to hold you back. Now you can borrow up to 95% of the value of your home simply by purchasing Mortgage Insurance. So for as little as 5% down, you can buy now, instead of waiting.

Repaying your Mortgage over an extended period of time lets you customise your monthly payments to fit your budget. Amortise for up to 30 years and lower your monthly payments. Of course, if you want to repay your loan sooner to cut your interest costs, simply choose a shorter amortisation period.

Reduce your interest costs by prepaying up to 15% of the original amount of your Mortgage every year without a penalty.

From time to time, you may want to change the terms of your Mortgage so it keeps up with your changing needs. We can make it simple to upgrade to a larger home or pay down your Mortgage faster.

Your Mortgage payments can be automatically deducted from your Scotiabank account, quickly and easily, so you don't need to worry about making your payments on time.

With optional Credit Life Protection, you can be sure that your Mortgage will be paid off in the event of your death. That way your family won’t have to make the Mortgage payments or liquidate assets to pay off the debt. Your premium is simply added to your Mortgage payment, resulting in one easy single monthly instalment. Both joint or single coverage is available.

You can also opt for Critical Illness Protection, which ensures that the outstanding loan balance can be paid in the event you are diagnosed with a covered critical illness (specifically heart attack, cancer, or stroke).

Use our helpful Mortgage Calculators to calculate the Mortgage you can afford.