1)      This rate is only available for purchases, renewals, refinances and switches.

2)      Available with the Scotiabank Flexible Mortgage solution which allows you to:

  • pay an extra regular mortgage payment on any regular payment date during the year,
  • prepay up to 15% of the original principal amount of the mortgage anytime during each year of the term, and
  • increase your principal and interest payment by up to 15% of the principal and interest payment originally set for the term.

3)      Click here to find an advisor or branch near you.

1 To qualify, certain conditions must be met.

2 No monthly account fees for a year offer conditions: To qualify for a monthly account fee waiver on a new Preferred or Ultimate Package for up to 1 year (the “Offer”), you must:

  1. Open a new or transfer an existing Eligible Mortgage (as defined below) which is approved and funded between April 1, 2022 and September 30, 2022;
  2. Open a new Ultimate Package or Preferred Package (each a “Package”) between April 1, 2022 and September 30, 2022; and
  3. Within 60 days of Package opening and Eligible Mortgage funding (whichever occurs later), set up recurring Pre-Authorized Debit (PAD) mortgage payments from the new Ultimate Package or Preferred Package and continue for 12 consecutive months.

The Offer is only available on new Scotiabank residential mortgages or on transfers of existing residential mortgages from another lender or financial institution to The Bank of Nova Scotia. The minimum mortgage amount must be $100,000 and the new mortgage must be set up as a closed fixed rate mortgage with a term of 3 years or greater or, a closed variable rate mortgage with a term of 5 years (each an “Eligible Mortgage”). Refinancings or renewals of existing Scotiabank mortgages and applications for increases to existing Scotiabank mortgage amounts are excluded from this Offer. All mortgage applications are subject to meeting Scotiabank's standard credit criteria, residential mortgage standards and maximum permitted loan amounts. If transferring an existing Eligible Mortgage, prepayment charges with your current lender may be applicable if the mortgage has not reached its maturity date.

To qualify, the primary borrower or any co-borrower(s) of the Eligible Mortgage must not be current holders of a Scotiabank Chequing Account (as defined below) or be previous holders of a Scotiabank Chequing Account within the last two (2) years. “Scotiabank Chequing Account” means any of the following accounts: Ultimate Package, Preferred Package, Scotia One Account, Basic Plus Bank Account, Basic Banking Plan, Basic Bank Account, Momentum Chequing, Power Chequing, Scotia One Service, Scotia Value, Student Banking Advantage Plan. Employees of Scotiabank are also not eligible for the Offers.

Provided all Offer conditions are met, the monthly Package fee will be waived for 12 months starting within 45 business days after mortgage payment begins and will not appear as a charge provided the Package is open and in good standing at time of waiver and for as long as the Eligible Mortgage payment PAD continues to be withdrawn from the Package. Please note this offer is not combinable with Ultimate Package preferred mortgage rates on the Eligible Mortgage. All other applicable service charges on the Package will continue to be applied.

This Offer may be changed, withdrawn, suspended or extended any time without notice.

Choose the right mortgage with expert advice.

Our mortgage advisors show you mortgage solutions customized to your needs, so you can enjoy your home knowing you made the right decision.

Based on your selections
Apply now with Scotiabank eHOME Talk to a Home Financing Advisor

What are your homeownership needs?

First-time homebuyers

Buying a home is one of the biggest purchases you'll ever make – and you want to do it right.

Buying another property

Want to buy a cottage near the lake? Condo in the city? Or maybe you want a rental property to invest in or fix up and flip. 

Mortgage Renewal

Renew today and lock into one of Scotiabank’s great rates.

Switch to Scotiabank

Simplify your finances. Switch your mortgage to Scotiabank, hassle-free.

Scotia Total Equity® Plan (STEP)

Use our Scotia Total Equity Plan to help leverage up to 80% of the value of your home and choose from a broad range of Scotiabank products.

Mortgage rates

There’s more to consider than just a great rate.

We can help with personalized advice, guidance and answers to questions you didn’t even know you had.

Learn more about our posted rates

eHOME
The online mortgage hub


Get pre-approved in minutes, track your application status, and receive your mortgage approval online.
More details Discover our digital mortgage tool

Helpful Mortgage Tools

Our easy-to-use mortgage tools can help you make an even more informed renewal decision. Here’s a sampling of what’s available to you.

Mortgage Calculator

Find out what your mortgage payments will be, so you can budget for success.

Scotia Total Equity® Plan (STEP) Calculator

Learn how to save on interest by using the equity in your home to borrow at lower interest rates.

See all mortgage tools See all Mortgage tools

Protect your biggest asset

Scotia Mortgage Protection Insurance

Protect your biggest financial investment by adding optional Scotia Mortgage Protection insurance on your new mortgage. Scotia Mortgage Protection offers four types of coverage to choose from.  It can help pay off your outstanding balance if you become critically ill or suddenly pass away, giving your family financial support. Or it can help to cover your regular mortgage payments, including property tax and interest if you’re unable to work due to a disability or job loss**. Calculate your estimated insurance premium in a few steps with our Mortgage Insurance Premium Calculator.

Related articles

See all mortgage articles See all Mortgage articles

Recent news

What is the Canadian mortgage stress test?

What you need to know about the Canadian mortgage stress-test.

Canadian mortgage rules: What you should know

What are the new mortgage rules in Canada? Our guide to what you should know before you sign for your next home.

Mortgage FAQs

ScotiaAdvice+ Home-buying series

Breaking down the home buying process so you can make an informed decision.

Insert heading text

with an optional subtitle

Buying a home Pt 1 - Here's how you get started.

Insert heading text

with an optional subtitle

Buying a home Pt 2 - Figuring out how much home you can afford.

Insert heading text

with an optional subtitle

Buying a home Pt 3 - Locking in your mortgage rate.

Special Offer

Earn a $300 welcome bonus with a new Preferred Package or Ultimate Package1.

Plus, pay no monthly account fees for up to a year by setting recurring payments to a new Scotiabank eligible mortgage2.

Go to Preferred Ultimate package page Get Offer

Let's get started

icon

Get personal Advice from a Scotia Home Financing Advisor


Get advice that delivers a solution customized to your needs by meeting with a Home Financing Advisor wherever is convenient for you.

icon

Apply online for a mortgage


Get pre-approved for a mortgage, search for a home, calculate what you can afford, and get a mortgage approval all in one place, all online. 

Visit an advisor at your branch

Book an appointment and talk to a Scotiabank Financial Advisor at one of our branches. 1-877-303-8879