Scotiabank. One of Canada’s Biggest Banks. One of the Easiest to Qualify With.
When most people think of a “bank mortgage,” they think of hoops, headaches, and high rates. But Scotiabank plays a different game.
With thousands of branches and advisors across Canada, they’re surprisingly flexible, offering custom solutions for self-employed borrowers, newcomers, real estate investors, and anyone who wants a bank’s power… without the bank's attitude.
Scotiabank’s biggest weapon? The Scotia Total Equity Plan (STEP). It’s a mortgage and a line of credit in one. You can borrow against your home as you pay it down, unlock equity instantly, and stay liquid for future investments, without requalifying.
And yes, they work with brokers. So you don’t have to go into a branch, wait in line, or play 1-800 roulette just to get approved.
“You’re Richer Than You Think” applies here too.
One of Canada’s Biggest Banks.
One of the Easiest to Qualify With.
Why Borrowers Love Scotiabank
Real Estate Investors
Refinance rentals and pull equity with ease. Scotia’s investor programs are aggressive, flexible, and built for scaling your portfolio.
High-Net-Worth Borrowers
Use assets—not income—to qualify. Scotia’s Net Worth Program makes it easy to get approved without traditional documents.
Uninsurable Borrowers
Get better pricing on large loans, rentals, and second homes. Scotia shines where default insurance can’t help you.
Refinancers
Pull equity, pay off debt, or invest—Scotia makes refinancing simple, especially for investors and complex borrowers.
HELOC + Mortgage Clients
Scotia’s STEP lets you borrow more as you pay down. One product, built-in flexibility, and no need to requalify later.
Self-Employed & Alt Income
Got great credit but messy income? Scotia’s flexible qualification lets you use stated income or net worth to qualify.
Current Posted Rates for Scotiabank
Is Scotiabank the smartest move for your mortgage?
I’ll help you find out — no guesswork, just answers.
Thinking of Using Scotiabank? Here's What You Really Need to Know
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Scotiabank is available coast to coast, every province and territory except Nunavut.
Rural properties may face more scrutiny, but we’ll help you navigate that. Let’s chat if you have questions or concerns about the marketability of the property on your mind! -
Oui. Yes. Both.
Scotiabank offers full bilingual servicing across Canada in English and French - making life easier for borrowers and brokers alike. -
Fixed-rate mortgages (1–5 years)
5-year adjustable-rate mortgage (ARM)
STEP mortgage (includes HELOC)
Bridge financing (when paired with a purchase)
Refinance, purchase, and rental property options
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Scotia offers 1-5 year terms, similar to other Big 5 Banks and traditional lenders.
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Scotiabank is one of the Big 5 Banks - and known as a traditional lender.
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The Scotia Total Equity Plan (STEP) lets you combine a mortgage and HELOC into one flexible solution. But qualifying can be harder: the whole loan is stress-tested at the HELOC rate + 2%, which can reduce your borrowing power.
If that’s a concern, there are other lenders who offer similar flexibility with easier qualification.
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Yes, but here’s the catch: branch staff can only offer Scotiabank’s in-house rates, which are often higher than what brokers get.
They also won’t compare Scotia to other lenders, because they can’t.
With a broker, you get insider pricing and honest advice if Scotia isn’t the best fit. -
Scotiabank uses the Big 5 bank IRD penalty formula, which can be punishing to say the least - especially if you break your mortgage early.
Statistics show that about 60% of borrowers break their mortgage by the 3 year mark of their 5 year term.
It’s a common trap, and we’ve written about how to avoid it, and what we do to mitigate it.Read more here, or feel free to book a call to discuss avoiding these pitfalls.
Scotiabank
Contact & Helpful Tools
Looking to learn more about Scotiabank or explore their mortgage options? Here’s the key info you need, no guesswork, no hassle.
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Head Office Location:
44 King Street West, Toronto, Ontario, Canada, M5H 1H1
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Phone: (416) 701-7200
Toll-Free: 1-800-472-6842
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Hours of Operation:
24 hours a day, 7 days a week - although some requests may be only processed during regular business hours. -
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Have fun working through numbers here, and give me a shout so we can discuss how we can make those numbers happen.
