Hot Deals

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

  • Last Updated:
  • Nov 27th, 2020 2:47 pm
Member
Feb 8, 2017
334 posts
232 upvotes
javis wrote: Quick approval is not enough to negotiate on. I did the same thing put all my info in and was given 1.79% - I then uploaded all my information and it took over a week to get approved for the 1.79% rate.

In the end I was offered 1.79% 5-year fixed from Scotia through eHome and I have full approval.
I didn't see any option for quick/full approval. The only thing I can do is start an actual application after having made an offer on a house.
Newbie
Feb 20, 2019
59 posts
58 upvotes
Burnaby, BC
javis wrote: Quick approval is not enough to negotiate on. I did the same thing put all my info in and was given 1.79% - I then uploaded all my information and it took over a week to get approved for the 1.79% rate.

In the end I was offered 1.79% 5-year fixed from Scotia through eHome and I have full approval.
I applied Aug 27th. How many business days before you got your full approval?
Koodo $35 10GB PM Migration + $180 Bill Credits + $300 WM Gift Card
Fido $40 14GB BYOD
Shaw $45 300/15MBPS + $250 Bill Credits
Member
Dec 23, 2006
304 posts
21 upvotes
ReginaldB13317 wrote: I applied Aug 27th. How many business days before you got your full approval?
I applied on the 24th and got my approval Aug 31. I did call in and tried to escalate given that it kept telling me 1 day. They told me on the phone they were slammed.
Newbie
Feb 20, 2019
59 posts
58 upvotes
Burnaby, BC
javis wrote: I applied on the 24th and got my approval Aug 31. I did call in and tried to escalate given that it kept telling me 1 day. They told me on the phone they were slammed.
Did you do the preapproval? I have that already but my realtor is saying we need the full approval before I put the downpayment. Sept 2 is my deadline for the downpayment.
Koodo $35 10GB PM Migration + $180 Bill Credits + $300 WM Gift Card
Fido $40 14GB BYOD
Shaw $45 300/15MBPS + $250 Bill Credits
Member
User avatar
Aug 2, 2007
217 posts
173 upvotes
Interesting, I just renewed around the same time as you.

4 year fixed, uninsured @ 1.86%
They don't have variable less than 5 years for renewals. That sounded kinda weird.
Newbie
May 6, 2019
23 posts
38 upvotes
Thanks OP :)
I got pre-approved for 1.73% 5 yr fixed insured.

The amortization period is showing 25 years, it did not gave option of 30 years. Anyone knows if 25 yrs is default for an insured loan ?
Jr. Member
Jul 21, 2017
103 posts
24 upvotes
Jaip22 wrote: Thanks OP :)
I got pre-approved for 1.73% 5 yr fixed insured.

The amortization period is showing 25 years, it did not gave option of 30 years. Anyone knows if 25 yrs is default for an insured loan ?
Yes , its by default
Jr. Member
Jul 21, 2017
103 posts
24 upvotes
What is the best rate offered by Scotia eHome so far , for non-insured mortgage ?
  • Fixed 5 year = ?
  • Variable 3/5 Years = ?
Member
Dec 23, 2006
304 posts
21 upvotes
ReginaldB13317 wrote: Did you do the preapproval? I have that already but my realtor is saying we need the full approval before I put the downpayment. Sept 2 is my deadline for the downpayment.
I did the fast approval ? which was put in all the info about my purchase/sale. That gave me the "1.79%" offer but that was only the "Application submitted" phase.

I then uploaded all the required documents and got to the "Approved" phase.

Honestly, if my broker could match their rates I would have stayed with them. eHome communication is a bit spotty and its a bit frustrating not to be able to contact anyone.
Last edited by javis on Sep 1st, 2020 4:38 pm, edited 1 time in total.
Newbie
Feb 20, 2019
59 posts
58 upvotes
Burnaby, BC
aaleemm wrote: What is the best rate offered by Scotia eHome so far , for non-insured mortgage ?
  • Fixed 5 year = ?
  • Variable 3/5 Years = ?
i got fixed 5yrs - 1.79%, variable - 1.82% with 20% dp for less than 500K
Koodo $35 10GB PM Migration + $180 Bill Credits + $300 WM Gift Card
Fido $40 14GB BYOD
Shaw $45 300/15MBPS + $250 Bill Credits
Newbie
Feb 20, 2019
59 posts
58 upvotes
Burnaby, BC
javis wrote: I did the fast approval ? which was put in all the info about my purchase/sale. That gave me the "1.79%" offer but that was only the "Application submitted" phase.

I then uploaded all the required documents and got to the "Approved" phase.

Honestly though, if my broker could match their rates I would have stayed with them. eHome communication is a bit spotty and its a bit frustrating not to be able to contact anyone.
Yup, they can't match the ehome. I'm done with document submission and will proceed with the downpayment regardles of the pending result.
Koodo $35 10GB PM Migration + $180 Bill Credits + $300 WM Gift Card
Fido $40 14GB BYOD
Shaw $45 300/15MBPS + $250 Bill Credits
Member
Dec 10, 2014
330 posts
240 upvotes
BC
This is what I'm offered with 20% downpay.
Which one would be the better rate to lock? Variable or fixed? I assume fixed since it's still lower than variable

Image
Newbie
User avatar
Jan 28, 2017
57 posts
44 upvotes
Laval
IMO fixed rate @ 1.77 % for 5 years is a great deal unless you plan on selling the house in the near future. Even so if the case, ask them if the mortgage is portable.

I doubt BOC drops the rate again there's not much room left so variable IMO are not worth it at this moment, unless your able to find a FI offering you a prime - 1.00% to make it worth the risk.
Newbie
Jul 31, 2020
5 posts
2 upvotes
aaleemm wrote: What is the best rate offered by Scotia eHome so far , for non-insured mortgage ?
  • Fixed 5 year = ?
  • Variable 3/5 Years = ?
I got 1.78 fixed 5 yr.
On variable it was 1.81 5yr.

edit: this was for 30 yr amortization. But rates seemed to be the same for 25 vs 30 yr
Deal Addict
Aug 5, 2015
2164 posts
1473 upvotes
Montreal, QC
Back in January I'd never have believed anyone telling me these rates would be available today, I'd have laughed at them.
Happy Koodo Public Mobile customer :-)

Top

Thread Information

There are currently 2 users viewing this thread. (1 member and 1 guest)

zorkey