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[Scotiabank] Scotiabank eHome new 3-4-5 year Mortgage Rates

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  • Oct 23rd, 2020 8:36 pm
[OP]
Sr. Member
May 4, 2006
515 posts
223 upvotes
Mississauga

[Scotiabank] Scotiabank eHome new 3-4-5 year Mortgage Rates

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Hey,

Just checked again my pre-approval rate from Scotia and noticed it dropped considerably, pretty good coming from one of the big banks and a 30 year amortization.

The rates are all for uninsured mortgage (20% down payment). YMMV, since i believe Scotia provides different rates depending on your credit profile.

2 Year - 1.98
3 Year - 1.93
4 Year - 1.93
5 Year - 1.78
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363 replies
Deal Addict
User avatar
Aug 30, 2005
1971 posts
294 upvotes
Ottawa
I guess this is just for new mortgages? I tried to look as mine is up for renewal but it didn't seem like it could do it
Newbie
Mar 19, 2019
53 posts
31 upvotes
Quebec
Rudy wrote: I guess this is just for new mortgages? I tried to look as mine is up for renewal but it didn't seem like it could do it
Same for me, although I was surprised this is now available in QC
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[OP]
Sr. Member
May 4, 2006
515 posts
223 upvotes
Mississauga
Yes, new mortgage.
Rudy wrote: I guess this is just for new mortgages? I tried to look as mine is up for renewal but it didn't seem like it could do it
Deal Addict
Oct 3, 2010
1344 posts
811 upvotes
Lac St-Jean
Scotiabank refused to loan me money for my first mortgage because I'm too far away from a branch. But they don't mind if you get credits cards or chequing accounts. And be aware that they will do a hard check before realizing where you live.
Deal Addict
User avatar
Sep 17, 2003
1042 posts
19 upvotes
Would it be possible to get a screenshot of the whole screen (minus personal data) I'm going to try to match it with RBC since I'm about to sign 30-years new mortgage with them. Thanks!
Member
Mar 9, 2015
219 posts
129 upvotes
Calgary, AB
RougeJeff wrote: Scotiabank refused to loan me money for my first mortgage because I'm too far away from a branch. But they don't mind if you get credits cards or chequing accounts. And be aware that they will do a hard check before realizing where you live.
Scotiabank was really happy to loan me money right after I landed from a 7 years trip. Banque Nationale refused me on the base that I had to have been working for 12 months after I landed back to Canada (despite the fact that I had mortgage with them before leaving the country, I still had bank accounts, credit card and placement with them).

And Scotiabank had better rate too!
Member
Nov 20, 2017
426 posts
297 upvotes
I got Prime -20bp (2.25%) in May of this year after the rates jumped a bit (@CIBC).

3 year variable (uninsured mortgage). Rates have dropped quite a bit since then
Don't go broke saving
Newbie
May 14, 2010
57 posts
3 upvotes
Richmond Hill
Comparing to the recent RBC thread, which one is better?
Sr. Member
Apr 8, 2007
703 posts
141 upvotes
Scotia has most aggressive lending product out there. ( HSBC has a huge penalty, and RBC are so rigid and has lack of incentive to improve their business).

Mortgage is a complex business and you needs need be ne defined by yourself ( with help for your most trust advisor)
Living in this big world, I have a little dream.
Newbie
Mar 4, 2016
29 posts
68 upvotes
Just called my mortgage broker- I'm closing on my place Sept 1 and mortgage is with Scotia. These rates are absolutely not happening. Uninsured 5 year rates are at 2.29% right now. (wife and I have credit of 840).

YMMV but i doubt you'll find anything close to this in 5 year uninsured.
Deal Fanatic
Dec 16, 2005
5259 posts
3275 upvotes
MK7GTI wrote: Just called my mortgage broker- I'm closing on my place Sept 1 and mortgage is with Scotia. These rates are absolutely not happening. Uninsured 5 year rates are at 2.29% right now. (wife and I have credit of 840).

YMMV but i doubt you'll find anything close to this in 5 year uninsured.
Sometimes it also depends on the size of your mortgage as well. Bigger mortgage might get you a lower rate.
Newbie
Oct 31, 2010
3 posts
Montréal
Thanks, could you explain why you said “ Scotia has most aggressive lending product out there.” ? What do you mean by more aggressive ?

Thanks

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