Mortgage glossary

Borrowing basics

Scotiabank offers a mortgage glossary to help you understand different lending terms you may encounter. We hope these mortgage terms and definitions will allow you to understand your mortgage options a little bit better.

Suggested Tools

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 calculator

Find out what your mortgage payments will be, so you can ensure your mortgage fits your budget.

Mortgage prepayment calculator

Find out what your mortgage prerepayment charge will be, so you can be mortgage-free faster.