Affordable Home Ownership

Look to Scotiabank for mortgage solutions that make it easier to own the home you want.

Cut costs by amortizing over 30 years

Repaying your mortgage over an extended period of time lets you customize your monthly payments to fit your budget. Amortize for up to 30 years and lower your monthly payments. Of course, if you want to repay your loan sooner to cut your interest costs, simply choose a shorter amortization period.

Take advantage of penalty-free repayment

Reduce your interest costs by prepaying up to 15% of the original amount of your mortgage every year without a penalty.

Renew or refinance the easy way

From time to time, you may want to change the terms of your mortgage so it keeps up with your changing needs. We can make it simple to upgrade to a larger home or pay down your mortgage faster.

Opt for convenient automatic withdrawals

Your mortgage payments can be automatically deducted from your Scotiabank account, quickly and easily, so you don't need to worry about making your payments on time.

Protect your loved ones with insurance

With optional Credit Life Protection insurance, you can be sure that your mortgage will be paid off in the event of your death. That way your family won’t have to make the mortgage payments or liquidate assets to pay off the debt. Your premium is simply added to your mortgage payment, resulting in one easy single monthly instalment. Joint or single coverage is available.

You can also opt for Critical Illness Protection, which ensures that the outstanding loan balance can be paid in the event you are diagnosed with a covered critical illness (specifically heart attack, cancer, or stroke).