Own your own home? Why not make it work for you?
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?
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.
Jamaican $ base rate
borrow up to 75% of the appraised value of your home
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Your home is one the biggest purchases—and greatest assets—you possess. It's more than just a place to live and raise your family, it's a source of equity you can use to finance home renovations, other major purchases and even paying for your children's education. Scotiabank can help you unlock the value of your home.