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Making the cottage dream a reality
Right for you if you want to buy a family cottage and want a variety of financing options.
Overview
- Many financing options available. Get financing for up to 95% of the value of your second home or cottage†.
- Choose from Scotiabank's range of available fixed or variable rate mortgage products.
- Home equity. Use 80% equity from your first home available towards a down payment on a second home.
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?
Find out how much, so you can arrange your mortgage and shop for a home with confidence.
Mortgage Calculator
Determine your payment options, amortization and more, all with one calculator.
STEP Calculator
Discover how small changes can have a big effect. This tool will show you how you can be mortgage-free faster.
Mortgage Selector
Opening the door to homeownership.
Prepayment calculator
Find out what your mortgage prerepayment charge will be, so you can be mortgage-free faster.
Ready to apply
Online
Get Pre-Approved
Phone
Find a home financing advisor. Mon-Fri (9am-8pm)
In Branch
Book an appointment
All mortgage applications are subject to meeting Scotiabank's standard credit criteria, residential mortgage standards and maximum permitted loan amounts.
†
Some conditions apply.
Conditions
This offer is available for all qualified purchase, switch, refinance and renewal customers, and is subject to applicable credit approval, Scotiabank residential mortgage standards and maximum permitted loan amounts.
Conventional uninsured financing is available for Type A vacation properties up to a maximum loan to value ratio of 80%. For Type A vacation properties, mortgage financing is available for loan to value ratios from 80.01% - 95% subject to mortgage insurance being provided by Sagen™ or Canada Mortgage and Housing Corporation.
Conventional uninsured financing is available for Type B vacation properties up to a maximum loan to value ratio of 75%. For Type B vacation properties, mortgage financing is available for loan to value ratios from 75.01% - 90.00% subject to mortgage insurance being provided by Sagen™.
Customers may choose from Scotiabank's range of available fixed or variable rate mortgage products.
Mortgage Rates Information
Special Offer Information
1
APR 8.03%
2
APR 7.11%
3
APR 9.86%
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.