Scotiabank Mortgage Calculator
Haven't found a property to purchase yet?
?
Enter the amount that you are planning on paying for the property
STEP 1
Enter property purchase price
Option #1
Option #2
Option #3
Option #4
?
Enter the amount that you will pay upfront
toward the property to obtain a mortgage
–
?
CMHC mortgage insurance is required on all
mortgages with down payment less than 20%
+
$19,000
$13,950
$11,900
$0.00
?
Total mortgage amount is calculated by subtracting
the down payment from the property price and adding
CMHC mortgage insurance (if applicable)
=
$494,000
$463,950
$436,900
$400,000
?
Amortization period is length of time that it would take
the mortgage holder to pay off the mortgage in full
?
Please select the province where you are planning
on taking out the mortgage, as mortgage rates can
vary in different provinces
AlbertaBritish ColumbiaNew BrunswickNewfoundland and LabradorNova ScotiaOntarioPrince Edward IslandSaskatchewan
STEP 2
Select province to get current
mortgage rates
?
Mortgage type specifies whether the interest
rate is variable or fixed
Fixed Rates
1 Year
7.44%
2 Year
7.04%
3 Year
6.64%
4 Year
6.44%
5 Year
6.39%
7 Year
6.59%
10 Year
6.99%
Variable Rates
3 Year
7.90%
5 Year
7.10%
Fixed Rates
1 Year
7.44%
2 Year
7.04%
3 Year
6.64%
4 Year
6.44%
5 Year
6.39%
7 Year
6.59%
10 Year
6.99%
Variable Rates
3 Year
7.90%
5 Year
7.10%
Fixed Rates
1 Year
7.44%
2 Year
7.04%
3 Year
6.64%
4 Year
6.44%
5 Year
6.39%
7 Year
6.59%
10 Year
6.99%
Variable Rates
3 Year
7.90%
5 Year
7.10%
Fixed Rates
1 Year
7.44%
2 Year
7.04%
3 Year
6.64%
4 Year
6.44%
5 Year
6.39%
7 Year
6.59%
10 Year
6.99%
Variable Rates
3 Year
7.90%
5 Year
7.10%
Fixed Rates
1 Year
7.54%
2 Year
7.04%
3 Year
6.64%
4 Year
6.44%
5 Year
6.39%
7 Year
6.59%
10 Year
6.99%
Variable Rates
3 Year
7.90%
5 Year
7.10%
Fixed Rates
1 Year
7.44%
2 Year
7.04%
3 Year
6.64%
4 Year
6.44%
5 Year
6.39%
7 Year
6.59%
10 Year
6.99%
Variable Rates
3 Year
7.90%
5 Year
7.10%
Fixed Rates
1 Year
7.44%
2 Year
7.04%
3 Year
6.64%
4 Year
6.54%
5 Year
6.39%
7 Year
6.59%
10 Year
6.99%
Variable Rates
3 Year
7.90%
5 Year
7.10%
Fixed Rates
1 Year
7.44%
2 Year
7.04%
3 Year
6.64%
4 Year
6.44%
5 Year
6.39%
7 Year
6.59%
10 Year
6.99%
Variable Rates
3 Year
7.90%
5 Year
7.10%
?
Please select how often you would like
to make your mortgage payments.
?
Mortgage payment is the amount that you will be
required to pay based on your mortgage terms
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About Scotiabank Mortgages
Scotiabank is a Canadian multinational banking institution that offers their customers diversity and in-depth financial options. Are you thinking about a new mortgage, mortgage refinancing, a second mortgage, home equity loans, or mortgage renewal? Scotiabank has you covered and mortgages with this lender are designed to allow the home buyer to own their home...not a mortgage. The Scotiabank mortgage calculator is just one of the many tools home buyers have at their disposal via their website; there is even a tool to use that helps you to see if it is time to rent or take out a mortgage loan. There are other calculators to help you zero in on breaking down information like mortgage payments, affordability and even compare mortgages. Unlike some other financial institutions, Scotiabank wants their mortgagees to become homeowners sooner, which is every home buyer's end goal. Scotiabank even has mobile home financing advisors that will sit down with you and discuss your mortgage plan...how convenient is that? A mortgage loan is a big leap and a financial commitment, but through the 'incentives' that Scotiabank offers its customers, the journey is simplified and easy in comparison to many other lenders (private lenders, trust companies & mortgage companies).
A Scotiabank mortgage calculator is a great head start to the road to home ownership, and for a greener home, Scotiabank has a home energy savings calculator that offers suggestions for upgrades, money-back rebates, and simple ideas to help. Mortgages can seem like an intimidating process, but with a mortgage professional assisting you each step of the way, it does simplify the 'jargon' and makes it easier to grasp (some mortgage products can feel downright confusing!). Competitive mortgage rates and other useful services like the Total Equity Plan or the best way to finance home renovations is just another way this bank services its customers. Before making any offer on a home, you will want to prequalify or even better, be preapproved for the mortgage so you know precisely the dollar amount that your lender is willing to back you up for. Next, you will want to arrange a real estate agent and a lawyer who are highly versed professionals to aid you in the processes of making an offer on a home to the seller. A tip to prospective homebuyers: Keeping some money tucked aside for a possible home inspection, appraisal, closing costs, additional utilities, land taxes (if applicable), and lawyer/realtor fees will alleviate the risk to your lender.