Location Please ensure your location is correct in order to find the best rates available in your area.

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 (view all) +

Scotiabank mortgage rates overview

Content last updated: May 7, 2020

Scotiabank has a variety of specialty mortgage products beyond the standard fixed and variable mortgages. The more you know about Scotiabank's mortgage products, the better prepared you'll be when you're ready to apply. Some of the key details are discussed in further detail below.

Scotiabank mortgage products

The Save Now, Save Later Mortgage This 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.

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

Scotiabank's Total Equity Plan

Scotiabank's Total Equity Plan is a home equity line of credit, or HELOC. It 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.

Accessing Scotiabank mortgage rates

The latest Scotiabank mortgage rates are updated on the tables above automatically, or on the Scotiabank website. You can see the current Scotiabank rates compared to other lenders on our main mortgage comparison page.

To access a Scotiabank rate, you can either go speak to Scotiabank directly, or speak to a Scotiabank mortgage broker. While going direct might be convenient if you already bank with Scotiabank, you'll have access to expert advice, and a wider selection or mortgage rates and products, if you speak to a broker instead. Find a mortgage broker near you to arrange a free consultation.

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 speed up the mortgage application process and obtain your Scotiabank mortgage rate, make sure you have the following information on hand when you apply, or speak to a mortgage broker:

  • 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, Scotiabank Group and its affiliates offer a diverse range of products and services, including personal, commercial, corporate and investment banking, to almost 15 million customers in some 50 countries around the world.

Bank Mortgage Rates