Scotiabank Mortgage Rates Ontario

*These rates represent the discounted mortgage rates available with the Bank of Nova Scotia through the mortgage broker lending channel. Scotiabank reserves exclusive rights for pricing their rates on an individual basis and these rates do not represent a formal rate quote from the Bank. Your approval rate could be higher or lower. Rates are subject to change and available OAC.*

Term Average Discounted Rate Estimate as of February 13
5 Year Fixed 5.19%
3 Year Fixed 5.39%
2 Year Fixed 6.54%

 Scotiabank Fixed Rates and Variable Rates

These current Scotiabank mortgage rates Ontario are the lowest rates seen advertised…


As of February 14, 2024

As of February 14, 2024

Best Rates
Other Details
  • 1 Year Fixed


    Payment: $18,94/mo

    20/20 pre payment
  • 2 Year Fixed


    Payment: $18,94/mo

    20/20 pre payment
  • 3 Year Fixed


    Payment: $18,94/mo

    20/20 pre payment
  • 4 Year Fixed


    Payment: $18,94/mo

    20/20 pre payment
  • 5 Year Fixed


    Payment: $18,94/mo

    20/20 pre payment
  • 10 Year Fixed


    Payment: $18,94/mo

    20/20 pre payment
  • 5 Year Variable


    Payment: -

    20/20 pre payment

Key Scotiabank Branch Locations in Ontario

Location Address Phone Number
Toronto 99 Bank St, Ottawa, Ontario, K1P 6B9 613-564-4563
Ottawa 200 Bay St. Main Floor, Toronto, ON M5J 2J5 (416) 974-3940
Hamilton 180 King Street West, Kitchener, Ontario, N2G 1A9 519-575-2300
London 383 Richmond St, London, ON N6A 3C4 519-661-1180
Kitchener 65 Locke St S, Hamilton, ON 905-572-4900

Unique Scotiabank Mortgage Programs

Scotia Total Equity Program

The Scotia Total Equity Program or STEP for short, is a flexible mortgage structure that allows the borrower to divide their mortgage into different components or sections. For example, one component may be a fixed rate mortgage term and another may be a Home Equity Line of Credit (HELOC). Or there could potentially be a fixed rate, variable rate and a HELOC component. This program can make it easier to add to the mortgage without breaking the original term if looking for equity take out or if moving/ porting the mortgage.

New Physician Mortgage Program

Scotiabank has a focus on physicians and accordingly wants to help make the purchase of their first home more accessible, and potentially happen sooner. Often new physicians are in a position where they must accumulate a 2 year income average to prove net income for mortgage approval. However, with a minimum 20% down payment, the Scotia new physician program may allow for a purchase sooner than 2 years. Programs are subject to change.

eHome Onlie Mortgage Hub

The Scotiabank eHome Online Mortgage Hub is considered to be the first all digital mortgage platform from a major bank in Canada. With this less hands-on program, the Bank has, from time to time discounted their mortgage rates further with this program. There are tools and resources on the platform to help shoppers navigate the home buying process and the ability to connect with a live human.

Scotiabank Mortgage Pre-Approval Process


Scotiabank Mortgage Types


Whether purchasing your first home or looking to upgrade, Scotiabank can help advise and assist throughout the process. Or connect with Altrua Financial to see how to work with Scotiabank through a mortgage broker. Either way when buying a home, Scotiabank is a solid choice with a reputation for strength.



High Net Worth

For those with significant liquid savings in RRSPs or other bank or investment accounts, Scotiabank has a flexible mortgage program to help account for this strength. Sometimes, income may be moderate, perhaps during retirement or for income tax purposes. But if the high savings can demonstrate an easy ability to re-pay, then the bank may be able to look beyond income alone. As a rule of thumb, the amount of savings should be 1-2 times the mortgage amount applied for, and the savings need to be substantial. However, the bank will look at each application on a case by case basis so its best to connect with a specialist for more details.