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It’s the fourth consecutive cut and the largest.
Special Offers and Programs
Find a mortgage solution that helps you meet your goals. We understand that everyone's mortgage needs are different.
That’s why Scotiabank offers a variety of mortgage solutions to suit your needs.
Special Offer
Offer details
Unlock a preferred mortgage rate with the Scotia Mortgage+ Program.
Special offers
Earn Scene+ points with Home Hardware Beaver Homes & Cottages
Build your dream home or cottage with the Home Hardware Beaver Homes & Cottages program. A Scotiabank® Progress Draw Construction Mortgage will help you finance your construction with an 18-month variable rate closed term mortgage with interest only payments.+
After construction, renew your Progress Draw Construction Mortgage and earn 2,000 bonus Scene+ TM points for every $10,000 renewed.
Scotiabank Rewards Mortgage
Earn 1,000 bonus Scene+TM points for every $10,000 advanced on a Scotiabank Rewards Mortgage with an eligible Scotiabank credit card.1
Then, redeem your points for travel, groceries, dining, entertaining, and much more.
Preferred or Ultimate Package
Earn up to $800 with a Scotiabank banking package and eligible investment plans.2
Plus, pay no monthly account fees for up to a year by setting recurring payments to a new or renewed Scotiabank eligible mortgage.3
Switch to Scotiabank
Switch your mortgage to Scotiabank and get up to $1,200 to cover your switch fees.4
Special programs
The Long and Short® Mortgage
Trying to decide between short-term rates and more secure long-term borrowing options? Here's a mortgage for you.
Scotiabank StartRight® for temporary residents
If you are working and living in Canada temporarily, we can help you feel at home faster
Scotiabank StartRight® for permanent residents
A specially designed program to meet your mortgage needs and help you in obtaining your first home in Canada.
Unlock access to a preferred mortgage rate
The Scotia Mortgage+ Program is a banking bundle that includes your mortgage, everyday banking, investing needs, insurance, and more.
Moving to Canada?
Scotiabank has a variety of options for newcomers. Learn the basics so you can call Canada "home" sooner.
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.
Prepayment calculator
Find out what your mortgage prerepayment charge will be, so you can be mortgage-free faster.
Plan today for a secure tomorrow
Maintain the home and lifestyle you’ve worked hard to build.
Related articles
Ready to buy a home? Here's how to save for your down payment.
This is the third consecutive rate cut by the BoC.
More information that may interest you
Forms
Contact us
Make an appointment with a Home Financing Advisor
Talk to a Home Financing Advisor on the phone or at a location of your choice.
Apply online with eHOME
You can be pre-approved, search for a home, and get a mortgage all in one place with Scotiabank’s online mortgage application process.
Visit an advisor at your branch
Talk to a Scotiabank Financial Advisor at one of our branches to learn more about our mortgage solutions.
TM Scene+ and the Icon Design are trademarks of Scene Plus IP Corporation, used under license.
1
All mortgage applications are subject to meeting Scotiabank's standard credit criteria, residential mortgage standards and maximum permitted loan amounts. Renewals are excluded from Scene+ bonus point offer. Additional offer conditions apply.
2
To qualify, certain conditions must be met.
3
No monthly account fees for a year offer conditions: To qualify for a monthly account fee waiver on a new Preferred or Ultimate Package for up to 1 year (the “Offer”), you must:
- (i) Open a new or transfer an existing Eligible Mortgage (as defined below), which is funded on or after August 1, 2024 or (ii) renew your existing Scotiabank Eligible Mortgage on or after August 1, 2024;
- Open a new Ultimate Package or Preferred Package (each a “Package”) after August 1st, 2024 and within 120 days before or after funding/renewal date, as applicable; and
- Within 60 days of Package opening and Eligible Mortgage funding/renewal (whichever occurs later), set up recurring Pre-Authorized Debit (PAD) mortgage payments from the new Ultimate Package or Preferred Package.
- The monthly Package account fee waiver will begin immediately upon the later of Package opening and Eligible Mortgage funding/renewal and will continue for as long as the PAD mortgage payment for the Eligible Mortgage continues to be withdrawn from the Package, up to a maximum of 1 year. All other applicable service charges on the Package will continue to be applied.
The Offer is only available on eligible new Scotiabank residential mortgages, transfers of existing eligible residential mortgages from another lender or financial institution to The Bank of Nova Scotia, and renewals of existing eligible residential Scotiabank mortgages. The minimum mortgage amount must be $100,000 and the mortgage must be set up as a residential closed term mortgage with a term of at least 1 year (each an “Eligible Mortgage”). Refinancings and applications for increases to existing Scotiabank mortgage amounts are excluded from this Offer. All mortgage applications are subject to meeting Scotiabank's standard credit criteria, residential mortgage standards and maximum permitted loan amounts. If transferring an existing Eligible Mortgage, prepayment charges with your current lender may be applicable if the mortgage has not reached its maturity date.
To qualify, the primary borrower or any co-borrower(s) of the Eligible Mortgage must not be current holders of a Scotiabank Chequing Account (as defined below) or be previous holders of a Scotiabank Chequing Account within the last two (2) years. “Scotiabank Chequing Account” means any of the following accounts: Ultimate Package, Preferred Package, Scotia One Account, Basic Plus Bank Account, Basic Banking Plan, Basic Bank Account, Momentum Chequing, Power Chequing, Scotia One Service, Scotia Value, Student Banking Advantage Plan. Employees of Scotiabank are also not eligible for the Offers. This Offer may be changed, withdrawn, suspended or extended any time without notice.
4
The minimum mortgage amount is $100,000 and the new mortgage must be set up as a closed fixed rate mortgage with a 3 year term or greater or, a closed variable rate mortgage with a 5 year term. Scotiabank will pay a maximum of $800 to the appropriate service provider to cover mortgage closing costs for services ordered directly or approved by Scotiabank. This amount will be treated as cashback and will be repayable to Scotiabank if the mortgage is assumed, paid out, transferred, or renewed prior to the expiry of the mortgage term. The cashback amount may appear as an additional charge payable in any discharge or renewal statement, and will be calculated on an even prorated basis using a standard formula. Scotiabank will also cover up to a maximum of $400 towards any discharge or assignment fee (other than any prepayment charges) charged by the other financial institution in connection with the mortgage transfer (not applicable in Quebec or through eHOME online application). The mortgage must be funded within 120 days of the application date.
® Registered trademark of The Bank of Nova Scotia.