Scotia Flex Value Mortgage - 5 Year Closed Term
Right for you if:
- You want a low mortgage rate and payment
- You want conventional or insured financing
- Low interest rates and payments Reset together with your payment amount each time the Scotiabank Prime Rate changes.
- Convert anytime Get a fixed term product with a term greater than the remaining term on your Scotia Flex Value® Mortgage, with no prepayment charges.†
- Prepayment options You can prepay to pay off your mortgage faster. Our most popular solution allows you to prepay up to 15% of the original principal amount of your mortgage and increase your payment by up to 15% of the payment set for the current term of your mortgage each year*. Speak to one of our Scotiabank advisors about all the options we have available.
- You could also have the following additional options:**
- Match-a-Payment You can pay an extra regular mortgage payment on any of your regular payment dates during your term.
- Miss-a-Payment You can miss a mortgage payment as long as you have matched one previously in your term.
- Conventional and insured financing available.
- Choose from weekly, biweekly, semi-monthly, and monthly payment options.
- Scotia Mortgage Protection can help make sure the home you worked so hard for is protected.
We understand that everyone's mortgage needs are different. Let us help you find a mortgage that's just right for you4.
Ready to apply
- OnlineGet Pre-Approved Apply Today
- In Person See a Home Financing Advisor Find a Home Financing Advisor
- Make an appointment at your local branch Find a Local Branch
Mon-Fri (9am-8pm) 1(877) 303-8879
- All mortgage applications are subject to meeting Scotiabank's standard credit criteria, residential mortgage standards and maximum permitted loan amounts. Read more
- * The original principal amount of your mortgage is the principal amount when your mortgage was first entered into with Scotiabank or, if your mortgage was assigned to us from another lender, the principal amount outstanding at the time of assignment. For a Scotia Flex Value® mortgage, the increase in your payment will be calculated based on the amount of your principal and interest payment at the time of the payment increase. Other conditions may apply.
- **The Match-a-Payment and Miss-a-Payment are not available during an interest-only portion of any progress draw construction mortgage and may not be available depending on the mortgage solution you select. Other conditions may apply.
- † Some Conditions Apply.
- This offer is available for all qualified purchase, switch, refinance and renewal customers. It's applicable to new or existing properties with a maximum of 4 units. Subject to applicable credit approval, Scotiabank residential mortgage standards and maximum permitted loan amounts. This offer can be changed or withdrawn at anytime without notice and may not be combined with other discounts, offers or promotions.
Closed term - Scotiabank Prime as of September 7, 2017 was 3.20%. As of September 7, 2017 the Scotia Flex Value Closed rate was 3.40%. If there are no 'cost of borrowing' charges (for example, appraisal fees), the APR for the rate of 3.40% equals 3.38% (compounded semi-annually, not in advance). Where a typical appraisal fee of $300 is assumed (actual appraisal fees may vary), the APR equals 3.44% (compounded semi-annually, not in advance), for a term of 5 years - assuming a mortgage of $100,000 with a 25-year amortization and that the mortgage is solicitor/notary facilitated.
The Scotia Flex Value - Open term - Scotiabank Prime as of September 7, 2017 was 3.20%. As of September 7, 2017 the Scotia Flex Value Open rate was 4.00%. If there are no 'cost of borrowing' charges (for example, appraisal fees), the APR for the rate of 4.00% equals 3.97% (compounded semi-annually, not in advance). Where a typical appraisal fee of $300 is assumed (actual appraisal fees may vary), the APR equals 4.03% (compounded semi-annually, not in advance), for a term of 5 years - assuming a mortgage of $100,000 with a 25-year amortization.
Mortgage Rates Information
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