If you are in the market for a new home, getting the best rates on your mortgage can be confusing and unfamiliar. Knowing the process will help significantly.
Scotiabank Mortgage Rates Overview
By using Bestmortgagerates4u.ca’s comparison chart, you will be able to compare other banks, brokerages, and lenders against Scotiabank to make sure that you will get the most affordable mortgage rate for your home.
In addition to the standard fixed and variable mortgages, Scotiabank has a range of specialty mortgage products that are addressed in more detail below. Save Now, Save Later Mortgage from Scotiabank is a limited time offer to lock into a reasonable mortgage rate now and save with a guaranteed rate discount later.
The Long and Short Mortgage allows you to take advantage of short-term low-interest rates while shielding you from rising long-term interest rates. Under the Scotia Total Equity Plan, the Long and Short Mortgage provides a mortgage split with one portion of the sum reset each month as the Scotiabank Prime Rate shifts, and one portion of the amount at a fixed rate for each month.
If you are looking for a getaway or a second home to call your own, the Secondary Home Financing Program is available.
The Scotia Mortgage for Self-Employed meets the unique needs of self-employed individuals.
Furthermore, Scotiabank provides the StartRight Mortgage Program to temporary residents and new permanent residents in Canada. This program is explicitly designed to meet the mortgage requirements of obtaining a first home in Canada.
The Total Equity Program of Scotiabank turns your mortgage into a valuable asset that can give you greater leverage over your spending now and in the future and will ultimately save you hundreds of dollars each year. You’ll have the ability to pay for the education of your children, buy a new vehicle, renovate, buy a second home or vacation house, or help run your small business. Whatever you choose, this plan allows you to borrow up to 80% of your home’s value. Scotiabank does have a number of online services to help you find a mortgage solution that meets your needs, including articles podcasts, solicitor forms, and even a personalized iPhone mortgage app. In addition to the learning centre at Bestmortgagerates4u.ca, these tools can be used to help you to obtain the best interest rate on mortgages.
Accessing Scotiabank Mortgage Rates
On the Scotiabank website, mortgage rates are updated daily. You can access these rates either by filling out an application online for a mortgage or simply by calling 1-888-990-9923 and speaking with a Scotiabank mortgage representative.
Scotiabank Pre-approval For A Mortgage
The pre-approval process for a Scotiabank mortgage will take around 20 minutes to finish. After that, the bank should contact you by phone within three business days to let you know of its decision.
Checklist For A Scotiabank Mortgage
To speed up the application process for a mortgage, you should get a few things ready:
- A statement of your monthly income
- Your monthly housing or rental expenses
- The overall value of properties, vehicles, investments, or savings that you currently have
- The monthly payments and balances of your existing mortgage that includes property taxes.
- Credit cards and lines of credit that you have
- Specifics of the property that you are going to be purchasing
- Spouse or partner’s financial information if you are applying jointly
Other Scotiabank Products
Scotiabank has a number of different products such as credit cards, rewards cards, low-interest cards, Scotiabank GICs that are available in several different terms.
Details On Scotiabank
Scotiabank has grown into one of North America’s leading financial institutions since welcoming its first customers in Halifax, Nova Scotia, in 1832. Today, through its team of close to 68,000 staff, the Scotiabank Group and its affiliates are providing a wide range of products and services to about 14.6 million customers in some 50 countries around the world. Some of the services and products include personal, business, corporate and investment banking.
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