Scotiabank Mortgage Rates

Mortgage Rates

1 Year

2.99%

2 Year

2.79%

3 Year

2.69%

4 Year

2.64%

5 Year Fixed

2.39%

5 Year ARM

Prime P-.40

3.95%

7 Year

2.99%

10 Year

3.39%

 

Scotiabank is one of Canada’s Big Five banks and it is the third-largest Canadian bank that provides the best mortgage rates in Canada. They offer a wide variety of residential mortgages products. Scotiabank offers to its customers a securely fixed-rate mortgage as well as variable rate based mortgage, to help buy a dream home.

Customers can avail of competitive interest rates on open term, flexible, or closed term mortgages at Scotiabank. They can enjoy the flexibility to lock into a closed fixed-rate term of one year or longer without any additional prepayment charges. Under long term fixed rates customers can also opt for 3, 4, 5, 7 & 10 Year Closed Term Mortgages. Variable rates program come with a 3-year closed term or 5 years closed/open term.

For payments, customers can choose from weekly, biweekly, semi-monthly, and monthly payment options. Other interesting options offered by them include a prepayment option under which one can prepay up to 15 % of the principal amount upfront, to pay off the mortgage faster. Scotiabank Mortgage rates are competitive and you can always compare mortgages from banks across Canada to understand the benefits of doing business with us.

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First Mortgage
First time mortgage doesn’t mean only the first home home that you buy. It can also mean the primary lien on the property you are planning to buy. It’s not about the level of home buying but the property itself. The term mortgage is a security for the lender.