Unlike renting, buying a home is an investment that can appreciate over time, which eventually means more long-term financial security. If you are renting, you may be surprised at how much mortgage you could afford to carry instead. Examine your situation by trying our 'Rent or Own?' calculator.

Next, let’s consider your downpayment

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. If you don’t have a downpayment you can finance your new home with:

• Scotia Free Down Payment® Mortgage¹
  We give you the minimum 5% down payment you need to get started!

Once you have decided on how you would like to proceed, take advantage of the Scotiabank’s Pre-Approved Mortgage and 120 Day Rate Guarantee²! House hunting with a 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.

Budget For a Home Purchase
Check out this list of one-time and ongoing costs associated with buying and maintaining the house you want.

	Take the next step... Apply online or get Pre-Approved Now Talk to us at 1-800-953-7441 Contact your local Scotiabank Branch Locate a Mortgage Specialist

¹ Some conditions apply.
² Limited offer, subject to change at any time without notice. Subject to credit approval, Scotiabank residential mortgage standards and maximum permitted loan amounts.