Scotiabank

    Scotiabank is one of North America's premier financial institutions and Canada's most international bank. Through their team of 69,000 employees, Scotiabank and its affiliates offer a broad range of products and services, including personal, commercial, corporate and investment banking, to more than 12.5 million customers in some 50 countries around the world.

    Since welcoming their first customers in 1832, Scotiabank has enjoyed continued success by building on traditional core strengths - risk management, cost control, diversification, customer satisfaction and great employees. Their goal is to be the best Canadian-based international financial services company.

     

    Minimum Mortgage Amount On request
    Portable Yes, upon qualification
    Amortization No Minimum, 35 Years Maximum
    Assumable Yes, upon qualification
    Rate Guarantee Up to 120 Days
    Preapprovals Yes
    Payment Frequencies Accelerated Weekly, Accelerated Bi-Weekly, Semi-Monthly,Monthly
    Early Payout Penalties Greater of 3 Months Interest or IRD for closed Fixed Rate Mortgages, 3 Months Interest for Closed Variable Rate Mortgages.
    Prepayment Privileges 15% of mortgage amount per year, + increase Payments by 15% per year, + Match any scheduled payment.

    Product Spotlight: Scotia Total Equity Plan

     Your mortgage should be a helpful financial tool, not something that hampers your ability to enjoy life. Scotia Total Equity® Plan turns your mortgage into a valuable asset -- one that can give you more control over your borrowing, now and in the future, and potentially save you hundreds of dollars each year.

    This innovative borrowing program makes it easier to get the things in life you need and want.

    Use your Scotia Total Equity Plan to help you...

    - Pay for your children's education
    - Buy a new car
    - Renovate
    - Buy a second home or vacation property
    - Help run your small business

    Whatever you decide, this plan will be custom built for you. Once in place, you decide how and when you'll use your available credit. You get the advantage of secured borrowing rates to finance not only your house but other things that are important to you.

    You can now borrow up to 80% of the value of your home and continue to choose from the broad range of Scotiabank products that best suits your needs. Talk to your Branch for more details and to find out how to take advantage of this enhancement.

    How it Works

    - Secure your borrowing with at least 20% equity in your home.

    - Apply just once to establish your overall borrowing limit.

    - Manage your interest rate risk by splitting your mortgage into two or three different types of mortgages and terms.

    - Choose a combination of Scotiabank products that best suit your needs.


    In fact, Scotiabank offers the flexibility of separate mortgages with a one-time approval. It's part of the Scotia Total Equity Plan, an ingenious way to use the equity you've built up in your home to help lower your overall borrowing costs. 

    Choose from:

    Fixed Rate Mortgages
    Variable Rate Mortgages
    Long and Short® Mortgage
    ScotiaLine® Personal Line of Credit
    Credit Line for businessTM
    ScotiaLine for businessTM VISA* card
    ScotiaGold Passport for business VISA Card
    Scotiabank VISA Card
    Scotia Plan® Personal Loans
    Term Loan for businessTM
    Scotiabank Overdraft Protection

    When you Apply for a Mortgage, just mention in the Notes section that you wish to apply for Scotiabank's STEP Mortgage!

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