Scotia Farm Legacy® Mortgages are targeted at farmers involved in the transfer of farm property to the next generation.

Owning farmland can be a big step towards financial security and prosperity. A Scotia Farm Legacy Mortgage provides flexible long-term financing for full and part-time farmers to buy farmland, make major capital improvements, or to restructure existing loans. Scotia Farm Legacy Mortgages are term obligations secured by farm real estate and payable according to a regular schedule¹.

Features & Benefits

• Payment terms to match seasonal cash flow.
• Annual prepayment privileges to 15% of the original balance.
• Down payment minimum of 10% of the value of the farm property.
• The seller is allowed to provide a vendor take-back for financing the buyer in the transition.

Pricing

• Pricing for Scotia Farm Legacy Mortgages is determined by the amount of the credit request, security provided, and your credit history.
• Fixed or floating interest rates with options to fix at any time.
• Interest-only payments may be permitted for up to 5 years on both the mortgage and vendor take-back loan (some performance qualifiers apply).
• Terms of 1 to 5 and 7 and 10 years.

To apply for a Scotia Farm Legacy Mortgage or for more information about our agricultural banking services, please contact one of our Agricultural Banking Specialists, visit your local Scotiabank branch or complete our online form.

¹ Subject to credit approval and security provided.