Sign In
Sign In
1, 2 Year Closed Term Mortgages
These are right for you if you want short term protection against rate increases and you don't want to commit to a long mortgage term
Overview
- Fixed interest rate. Avoid rate increases without committing to a long-term mortgage.
- Prepayment options. You can prepay to pay off your mortgage faster. Our most popular solution allows you to prepay up to 15% of the original principal amount of your mortgage and increase your payment by up to 15% of the payment set for the current term of your mortgage each year*. Speak to one of our Scotiabank advisors about all the options we have available.
- You could also have the following additional options**:
- Match-a-Payment
You can pay an extra regular mortgage payment on any of your regular payment dates during your term. - Miss-a-Payment
You can miss a mortgage payment as long as you have matched one previously in your term.
- Match-a-Payment
- Conventional and insured financing available.
PLUS:
- Choose from weekly, biweekly, semi-monthly, and monthly payment options.
- Scotia Mortgage Protection can help make sure the home you worked so hard for is protected.
Mortgage Rates
We understand that everyone's mortgage needs are different. Let us help you find a mortgage that's just right for you4.
Variable Rate Mortgages
Mortgage Tools
It's easy to achieve your goals.
Mortgage-Free Faster Calculator
Discover how small changes can have a big effect. This tool will show you how you can be mortgage-free faster.
What can i afford?
Discover just how much you can spend before you start house hunting.
Mortgage Calculator
Find out what your mortgage payments will be, so you can ensure it fits your budget.
Unlock your equity with STEP
Use the Scotia Total Equity Plan to tap into your home equity. You’ll save with lower rates and get the funds you need to reach your goals.
Mortgage Selector
Opening the door to homeownership.
Mortgage comparison calculator
Compare mortgage terms, payment options, rates and more.
Ready to apply
By Phone
Mon-Fri (9am-8pm)
In Branch
Make an appointment at your local branch
Online
Get Pre-Approved
All mortgage applications are subject to meeting Scotiabank's standard credit criteria, residential mortgage standards and maximum permitted loan amounts
*
The original principal amount of your mortgage is the principal amount when your mortgage was first entered into with Scotiabank or, if your mortgage was assigned to us from another lender, the principal amount outstanding at the time of assignment. Other conditions may apply.
**
The Match-a-Payment and Miss-a-Payment are not available during an interest-only portion of any progress draw construction mortgage and may not be available depending on the mortgage solution you select. Other conditions may apply.
Mortgage Rates Information
Special Offer Information
1
APR 3.93%
2
APR 4.70%
3
APR 7.00%
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.
5
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.