Be Mortgage-Free Faster

Paying down your mortgage can be easier than you think

Own a home, not a mortgage. Let us show you how to pay off your mortgage faster with just a few small changes that won't require major changes to your life style.

Small changes, big difference

Most people understand the need to plan for their retirement. What about a Borrowing Plan? With a borrowing plan, you could take years off your mortgage, save thousands in interest, and build your investment in your home.
Look at some of the articles below to see what strategies could work for you.

Mortgage-Free Faster

A few small changes such as bi-weekly payments, small extra lump sum payments, even $500 a year makes a difference; and a 2% annual increase in your mortgage payments could help you become mortgage-free faster.

Diversify your Mortgage

The cornerstone of your borrowing plan should be the Scotia Total Equity® Plan (STEP) which gives you the flexibility you need for borrowing. It lets you mix short-term and long-term or variable and fixed rates. Take advantage of low interest rates in the short term while protecting against increases over the long term. You can also include lines of credit, credit cards and other borrowing products as your needs change. With STEP you may never have to apply for credit again.

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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.

STEP is an innovative borrowing program that makes it easier to get the things you need and want. It's a custom built plan that lets you decide how and when you'll use your available credit. Save by splitting your mortgage between fixed and variable rate products or between long and short-term products. This way you can take advantage of low interest rates in the short term, while protecting against increases over the long-term.

Own a Home, Not a Mortgage
Small changes in your mortgage terms and payments can make a big difference. Learn some simple strategies to help you become mortgage-free faster and easier.

Financing Considerations When Buying a New Home
A Scotiabank Advisor can help discover ways to obtain the right home for your needs, unlock your home equity and develop a financial plan that reflects your goals.

Switching Your Mortgage to Scotiabank
If you currently have your mortgage with another lender, it’s worthwhile to talk with a Scotiabank Advisor to discuss your renewal options.

Tools It's easy to achieve your goals.

Mortgage-Free Faster Calculator

Learn how to borrow wisely.

Use this tool

Start saving with Scotia Total Equity Plan

STEP helps you save by letting you decide how and when you'll use your available credit.

Use this tool

Bank The Rest

The Bank The Rest savings program lets you automatically round up your debit purchases to the nearest $1 or $5 and transfers the difference into a Money Master® Savings Account, where you can watch your money grow.

Use this tool
Videos See our latest demos and videos.
watch the 'Be a STEP Ahead with the Scotia Total Equity Plan!' video Be a STEP Ahead with the Scotia Total Equity Plan! 2:06 min | Transcript
Did you know that your home can work for you? Let us show you how the Scotia Total Equity Plan helps you be a STEP ahead in achieving your goals sooner! Watch Video
Watch the 'Be mortgage-free faster' video Be mortgage-free faster 2:02 min | Transcript
Imagine becoming mortgage-free faster. Find out how to take years off your mortgage by doing a bunch of little things that really add up. Watch Video
Watch the 'Diversify your mortgage' video Diversify your mortgage 1:17 min | Transcript
Watch Video