This offer is available only on a 4 year fixed rate, closed term mortgage with a principal amount of at least $25,000 CAD and an amortization of 30 years or less. This offer applies to purchases, renewals, refinances, and switches (prepayment charges with an existing lender may apply if the mortgage has not reached its maturity date). Applications for a secured line of credit and rental properties are excluded from this offer. The mortgage must be advanced within 120 days from the date of application and the property must be owner-occupied. Applications are subject to meeting Scotiabank's standard credit criteria, residential mortgage standards and maximum permitted loan amounts. The interest rate for a fixed rate mortgage is calculated semi-annually, not in advance. The Annual Percentage Rate (“APR”) is 2.85%, based on a mortgage of $100,000 with a 25 year amortization and a $300 appraisal fee which will be required to complete your lending application. The actual appraisal fee may vary. This Offer may be changed, withdrawn, suspended or extended at any time, without notice to you and may not be combined with any other discounts, offers, or promotions. All Mortgages must be in first position. Other conditions may apply.