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.

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¹ Subject to credit approval and security provided.