Ways to help you become a homeowner
Buy new with just 5% or 10% down with Indemnity insurance or 25% down without
Like many home buyers, your biggest challenge may be saving for the down payment. We make it easier! At Scotiabank, you can borrow up to 95% of the value of your home with the purchase of Mortgage Insurance. So for as little as 5%, 10% or 25% down, you can buy now instead of waiting.
Lower monthly payments with amortization up to 30 years
Repaying your mortgage over an extended period of time lets you customise your monthly payments to fit your budget, which makes owning your home more comfortable.
You can amortise your Scotiabank mortgage for up to 30 years. Of course, if you want to repay your loan sooner and minimise your interest cost, you can choose a shorter amortisation period.
Take advantage of penalty-free repayment
Scotiabank allows you to prepay up to 15% of the original amount of your mortgage every year without a penalty.
Buy the land and build affordably
Scotiabank offers you step-by-step financing for building your home from the ground up. Finance the land for the home of your dreams with a Scotiabank lot loan and take up to ten years to repay. When you’re ready to build, your land becomes the down payment and a Scotiabank Home Builder loan will get you into your home, quickly and affordably.
Contact us for more information about these products, and the benefits of transferring your existing business to Scotiabank.
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