A home for your firsts

Buying a home is one of the biggest purchases you'll ever make – and you want to do it right.

Whether you're buying your first house, upgrading, or investing, our mortgage solutions are designed to guide you every step of the way — with clarity, care, and confidence.

Grow in a space of your own with a Scotiabank mortgage

Competitive rates

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_{No payments for up to 2 months*}

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Conditions apply

Can you afford it?

Mortgage checklist

Rates & Fees

Let’s make your dream a reality

Explore our step-by-step guides to securing your home with ease

_{PHASE 1: Pre-Qualification}

Initial consultation
Speak with a Loans Officer to assess your eligibility.
Pre-qualification letter
Use this to begin house hunting with confidence.

_{PHASE 2: Application submission}

Document collection
Submit proof of income, ID, and property details.
Processing begins
Valuation report (Bank requested)
Surveyor’s report (Client requested)
Verification & adjudication
→ Final Approval

_{PHASE 3: Legal preparation}

Legal document drafting
Signing appointment
Funding preparation
Letter of undertaking
Sent to vendor’s Lawyer outlining disbursement terms.

_{PHASE 4: Finalization & disbursement}

Title transfer & bank interest
Vendor’s attorney submits documents to National Land Agency.
Loan disbursement
You become the proud owner of your new home!

Learn more about the mortgage process

A mortgage payment is the amount of money you pay towards your mortgage — typically on a biweekly or monthly basis. Mortgage payments are made up of mortgage principal and interest.

The principal is the amount you borrow (mortgage amount). For example, if you have a $3,00,000 mortgage, the principal is $300,000. The lender charges interest on your principal, adding to the amount you owe.

When you start paying your mortgage, a larger portion of your payment goes towards interest. As you pay down your mortgage, the interest portion decreases so more of your payment goes towards paying off your principal.

The mortgage amortization period is the actual number of years (mortgage length) it will take to repay a mortgage loan in full, based on the interest rate for your current mortgage term.

This may go beyond the term of the mortgage contract. The mortgage term refers to the period of time over which the interest rate, payment, and other mortgage conditions are set.

Mortgage insurance is mandatory when buying a home.

When you get a mortgage, you agree to make regular payments to repay the loan. Mortgage insurance protects the lender if you stop making payments on time or in full. If you default, the insurer can take legal action and enforce payment. They also pay the lender if there’s a shortfall once the property is sold and expenses are paid. If this happens, you’re still responsible for the shortfall on the mortgage. This means the lender or mortgage insurer can take legal action against you for any money you owe.