Pay Off Your Mortgage Faster and Own a Home Sooner
For many homeowners, the biggest question is "How can I pay off my mortgage as fast as possible?"
It's natural to look forward to the day when you have made your very last mortgage payment and own your home outright. Owning your home provides you with greater financial freedom, flexibility and the ability to focus on other financial goals like retirement or saving for your child's education.
It doesn't even have to be that hard - you'll be amazed how small changes in your mortgage terms and payments can make a big difference. Here are some simple strategies to help you become mortgage-free faster and easier:
For example, the Scotia Total Equity® Plan** allows you to combine the features of fixed and variable rates to take advantage of potentially lower short term rates and also protect against future rate increases. Similarly, you could combine a short-term fixed mortgage (eg. one-year term) and a longer-term fixed mortgage (eg. five-year term) to create a mortgage solution that is a blend of both.
These are just a few suggestions to discuss with your Scotiabank Advisor. You can also see the savings for yourself by experimenting with different payment scenarios using our Mortgage-Free Faster Calculator.
Call us and let us help. 1-800-472-68421-800-472-6842