Scotia Total Equity® Plan
(STEP)
Right for you if:
You want more control over your borrowing by leveraging the equity in your home
You want to take advantage of various product options
Overview
Secured borrowing rates. Apply just once to secure your overall borrowing limit†
Mortgages: Borrow up to 80% of the value of your home and manage your interest rate risk by splitting your mortgage into 2 or 3 different types of mortgages and terms. Both fixed and variable interest rates are available
Other products: Borrow up to a total of 65% of the value of your home and choose lines of credit or other secured Scotiabank borrowing products†† that best suit your needs
ScotiaLine® Personal Line of Credit - Low rates with payment options available
Scotia Mortgage Protection can help make sure the home you worked so hard for is protected
Details
Use your Scotia Total Equity® Plan to help you with all your borrowing needs.
You can borrow up to 80% of the value of your home and choose from a broad range of Scotiabank products. Once the STEP is in place, you decide how and when you'll use your available credit. Talk to your Branch for more details and find out how to take advantage of this product.
- Secure your borrowing with at least 20% equity in your home.
- Apply just once to establish your overall borrowing limit.
- Manage your interest rate risk by splitting your mortgage into two or three different types of mortgages and terms.
- Choose a combination of other secured Scotiabank borrowing products† that best suit your needs, up to a total of 65% of the value of your home.
Choose from:
Tools & Videos
Be a STEP Ahead with the Scotia Total Equity Plan!
Did you know that your home can work for you? Let us show you how the Scotia Total Equity Plan helps you be a STEP ahead in achieving your goals sooner!
Small changes, big differences
Find out how you can meet and exceed your savings requirements.
All mortgage applications are subject to meeting Scotiabank's standard credit criteria, residential mortgage standards and maximum permitted loan amounts.
In the future should you wish to request a change to the credit limits amongst your products, you may be asked to provide updated information and/or submit a new application depending on your current circumstances.
Some conditions may apply.
Some mortgage solutions may not be eligible to be included as part of a Scotia Total Equity Plan.
Mortgage Rates Information
1 APR 3.85%
2 APR 3.69%
3 APR 4.28%
The above Annual Percentage Rates (APR) for our special offers are compounded semi-annually, not in advance. Each APR calculation is based on a mortgage of $100,000 with a 25 year amortization and a $300 appraisal fee. The actual appraisal fee may vary. The mortgage must be advanced within 120 days from the date of application. These offers are subject to change and may be withdrawn at any time without notice. Variable interest rates will change automatically as Scotiabank's prime rate changes. Applications are subject to meeting Scotiabank's standard credit criteria, residential mortgage standards and maximum permitted loan amounts. Other conditions may apply.
Interest rates are provided for information purposes only and are subject to change at any time without notice. All rates are calculated semi-annually, not in advance.
All mortgage applications are subject to meeting Scotiabank's standard credit criteria, residential mortgage standards and maximum permitted loan amounts.
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