|
Own your own home? Why not make it work for you?
Scotiabank offers the opportunity for you to use the equity of your home to finance the purchase of motorcars, kitchen appliances, debt consolidation, home improvement or travel, medical and educational expenses.
The equity in your home is the difference between its current appraised market value and the outstanding mortgage balance. A Home Equity Loan is a one-time lump sum advance of that difference, which is paid off over a fixed period with the same payments each month.
A Scotia Home Equity Loan will allow you to borrow up to 75% of the appraised value of your home.
With convenient monthly payments at competitive interest rates you can borrow up to 10 million dollars and have up to 10 years to repay.
Loans are easy to apply for with repayment terms customised to fit your budget. Plus monthly payments are charged directly to your deposit account, making it easier to manage.
What do you need to apply?
- A copy of the title to your home
- Valid ID: passport or drivers license
- Tax Registration Number (TRN)
- Verification of income
- Employed: job letter and last two pay slips
- Self-employed: bank and financial statements for the past 12 months
- Documentary evidence to support the loan purpose
Getting a home equity loan might be a very effective way to get some things done that you can’t afford from your cash resources.
So come in to any Scotiabank branch island wide and speak with a personal banking officer or call our 24 hour Contact Centre for more information.
|
