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Scotiabank Mortgage Rates

Rates updated:

Below you will find current Scotiabank's posted 5-year fixed and variable mortgage rates. Use Ratehub.ca's comparison chart to evaluate other banks, brokerages and lenders against Scotiabank and ensure you get the best mortgage rate!

Scotiabank mortgage rates overview

Scotiabank has a variety of specialty mortgage products beyond the standard fixed and variable mortgages, which are discussed in further detail below.

Scotiabank's Save Now, Save Later Mortgage is a limited time offer of locking in a competitive mortgage rate now and saving later with a guaranteed rate discount.

The Long and Short Mortgage allows you to take advantage of low interest rates in the short term while protecting against interest rate increases over the long term. Under the Scotia Total Equity Plan, the Long and Short Mortgage offers a split of the mortgage with one part of the amount reset every month as Scotiabank Prime Rate changes, and one part of the amount at a fixed rate for the full term chosen.

The Secondary Home Financing Program is available if you are looking for a getaway or a second home to call your own.

The Scotia Mortgage for Self-Employed serves the unique needs of self-proprietors.

Finally, Scotiabank offers its StartRight Mortgage Program to temporary residents and permanent residents new to Canada, which is a program specially designed to meet the mortgage needs of obtaining a first home in Canada.

Scotiabank's Total Equity Plan converts 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. You can pay for your children's education, buy a new car, renovate, buy a second home or vacation property, or help run your small business. Whatever you decide, this plan allows you to borrow up to 80% of the value of your home.

Scotiabank has a variety of online resources to help you find a mortgage solution that suits your needs, such as articles, podcasts, solicitor forms, and even a custom mortgage iPhone app. These resources can be used in addition to Ratehub.ca's learning centre which guides you to obtain the best mortgage interest rate.

Accessing Scotiabank mortgage rates

Scotiabank mortgage rates are updated every day on its website. You can access these rates by either filling out an online mortgage application or simply speaking with a Scotiabank mortgage agent over the phone at 1-888-990-9923. To get started, connect with an authorized Scotiabank mortgage broker.

Scotiabank mortgage pre-approval

Scotiabank's mortgage pre-approval application takes approximately 20 minutes to complete, after which the bank will contact you by phone within three business days to advise you of its decision.

Scotiabank mortgage application checklist

To expedite the mortgage application process and obtain your Scotiabank mortgage rate, make sure you have the following information on hand:

  • Your monthly income
  • Your current monthly housing expenses or rent
  • The value of any vehicles, properties, investments, or savings you may have
  • The balances and monthly payments of your current mortgage (including property taxes), credit cards/lines of credit or loans
  • Details of the new property you are interested in purchasing
  • Your spouse/partner's financial information, if you are applying jointly

Compare Other Scotiabank Products

Scotiabank offers various Scotiabank credit cards, including rewards cards and low interest cards, as well as SCotiabank GICs, available in a variety of terms.

More on Scotiabank

Since welcoming its first customers in Halifax, Nova Scotia, in 1832, Scotiabank has expanded into one of North America's premier financial institutions. Today, through its team of close to 68,000 employees, Scotiabank Group and its affiliates offer a diverse range of products and services, including personal, commercial, corporate and investment banking, to almost 14.6 million customers in some 50 countries around the world.

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