First Time Homebuyers

Borrowing Basics

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.

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Be mortgage-free faster 2:02 min | Transcript
See how many thousands you could save, by paying off your mortgage faster.

Get Ready to Buy A Home
See why it's ideal to buy your first home as early in life as you can.

Save Time and Money as You Own Your Home
Some simple strategies that can help you pay off your mortgage faster, for less cost.

Being a Financially Savvy Homeowner
Come see how it makes a big difference to go house hunting with a plan.

Be a Homeowner Sooner
Experience the pride of ownership, and the satisfaction of knowing you're making a smart investment.

Tips on Borrowing
Determining what you need can help you identify the right borrowing strategy.

Tips for First-Time Homebuyers
Knowing how much of a down payment you can save and what ongoing costs you can afford is a good place to start.

Getting the Most from your Home-buying Team
When purchasing an asset such as a house or condo, it pays to hire top-notch, accredited professionals.

Tools It's easy to achieve your goals.

Podcast: Tips for Having a Home Inspected

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Mortgage-Free Faster Calculator

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Mortgage Payment Calculator

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'What can I afford?' Tool

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Videos See our latest demos and videos.
Watch the 'Diversify your mortgage' video Diversify your mortgage 1:17 min | Transcript
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