Scotia Flex Value Mortgage - 5 Year Open Term

Right for you if:

You want the maximum amount of flexibility

You're taking this open term as part of the Scotia Total Equity^® Plan

Overview

Low rates and payments
Low rate with associated payment amounts calculated each time the Scotiabank Prime Rate changes.

Prepay with no prepayment charges
Increase your payments by any amount, at any time, with no prepayment charges.^†

Convert anytime
Get any fixed term product with no prepayment charges.

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

Special Offers

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

Closed Term Fixed Rate Mortgages

Short Term Fixed Rate Mortgages

Mortgage Tools

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.

Try this tool

What Can I Afford?

Find out how much, so you can arrange your mortgage and shop for a home with confidence.

Try this tool

Mortgage Payment Calculator

Determine your payment options, amortization and more, all with one calculator.

Try this tool

STEP Calculator

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

Try this tool

Mortgage Selector

Opening the door to homeownership.

Try this tool

Mortgage Comparison Calculator

Use this calculator to compare two different mortgages and determine which feature or product is the most suitable to meet your needs.

Try this tool

Ready to apply

Online

Get Pre-Approved

Apply Today

In Person

See a Home Financing Advisor

Find a Home Financing Advisor

In Branch

Make an appointment at your local branch

Find a Local Branch

Phone

Mon-Fri (9am-8pm)

1(877) 303-8879

All mortgage applications are subject to meeting Scotiabank's standard credit criteria, residential mortgage standards and maximum permitted loan amounts.

†

Some Conditions Apply.

This offer is available for all qualified purchase, switch, refinance and renewal customers. It's applicable to new or existing properties with a maximum of 4 units. Subject to applicable credit approval, Scotiabank residential mortgage standards and maximum permitted loan amounts. This offer can be changed or withdrawn at anytime without notice and may not be combined with other discounts, offers or promotions.

The Scotia Flex Value - Closed term - Scotiabank Prime as of March 30, 2020 was 2.45%. As of March 30, 2020 the Scotia Flex Value Closed rate was 2.65%. If there are no 'cost of borrowing' charges (for example, appraisal fees), the APR for the rate of 2.65% equals 2.70% (compounded semi-annually, not in advance). Where a typical appraisal fee of $300 is assumed (actual appraisal fees may vary), the APR equals 2.70% (compounded semi-annually, not in advance), for a term of 5 years - assuming a mortgage of $100,000 with a 25-year amortization and that the mortgage is solicitor/notary facilitated.

The Scotia Flex Value - Open term - Scotiabank Prime as of March 30, 2020 was 2.45%. As of March 30, 2020 the Scotia Flex Value Open rate was 5.75%. If there are no 'cost of borrowing' charges (for example, appraisal fees), the APR for the rate of 5.75% equals 5.75% (compounded semi-annually, not in advance). Where a typical appraisal fee of $300 is assumed (actual appraisal fees may vary), the APR equals 5.75% (compounded semi-annually, not in advance), for a term of 5 years - assuming a mortgage of $100,000 with a 25-year amortization.

Mortgage Rates Information

Special Offer Information

APR 3.45%

APR 2.70%

APR 5.75%

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.