Scotiabank Mortgage
Although Scotiabank mortgage offers some unique mortgage products, The bank of Nova Scotia mortgage may or may not be the ideal lender for you or your situation.
If you are interested in a Scotiabank mortgage product or would like to compare other products to Scotia bank mortgage rates, please call today or apply online.
Use our mortgage calculator to give you an idea of how much you can afford.
5% Cash Back Mortgage
The bank of Nova Scotia offers a 5% cash back mortgage. This is a great product for first time home buyers with no down payment or savvy investors. Scotia bank mortgage offers this product in 5 and 7 year fixed mortgage rate term. Because this product is utilized by high-ratio and higher risk borrowers, the product usually carries a premium in terms of rate. The 5 year 5% cash back mortgage rate is usually 1.25% or more higher then their traditional 5 year discounted rate. At these historic lows in interest rates, this is still a fantastic rate for someone who wants to buy a house with very little down payment.
For more information on how to obtain a property with ‘0%’ down, look for the article in the first time home buyers section.
Welcome to Canada Program for Permanent and Temporary Residents
Scotia Mortgage offers mortgages up to 95% for those who have recently immigrated to Canada and those on temporary work permits.
Other Scotiabank Mortgage Products Available
- High ratio mortgages – up to 95% loan to value
- Rural mortgage
- Farm mortgage
- Home equity line of credit
Scotiabank Mortgage Terms Available
| Fixed Rate: | 1, 2, 3, 4, 5 , 7 + 10 year |
| Variable Rate: | 5 year |
| Convertible: | 6 months |
| Closed: | 1, 2, 3, 4, 5 , 7 + 10 year fixed rate |
| Open: | 6 month fixed rate 1 year fixed rate 5 year variable |
Scotiabank Mortgage Payment Options
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Weekly
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Biweekly (accelerated)
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Semi-monthly
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Monthly
Scotia Bank Mortgage Pre-payment Options
- Double your payments.
- Pre-pay up to 15% each year on the original balance of your mortgage without penalty.