First Time Homebuyers

Why Rent When You Can Buy?

Unlike renting, buying a home is an investment that can appreciate over time and help you accrue some equity and long-term financial security. If you are renting—or have rented—just think about how the money you've already spent could have gone towards your mortgage.

Consider Your Down Payment

The more you can put towards a down payment, the less you’ll need to borrow and the more you’ll save in interest over the years. By law, Canadian banks can only provide mortgage financing if you have a minimum 20% down payment, unless the mortgage is insured against default. Mortgage default insurance can help you purchase a home and begin building equity sooner. Learn More

Get a Pre-Approved Mortgage

Once you've made the decision to become a homeowner, it helps to go house hunting with a pre-approved mortgage. Scotiabank's Pre-Approved Mortgage gives you the power to make an offer on the spot when you find the home you want at the price you know you can afford.