Scotiabank Mortgages
If you currently hold a Scotiabank mortgage, Royal Bank mortgage, TD Canada Trust mortgage, BMO mortgage, CIBC mortgage, ING Direct mortgage,or an HSBC mortgage, it may be a good idea to get a quote on a new mortgage with us. Please don't assume that these banks offer the best 1, 2, 3, 5, 7, 10, and 20 year open and closed mortgages. Our private mortgage lenders have lots of mortgage funds to lend and they're ready to provide you with some great mortgage products. We can introduce you to a variety of excellent lenders with great mortgage products.
Scotiabank mortgage rates change frequently, so it is wise to compare the latest mortgage rates and terms our private lenders might also be able to provide you. If you're banking at Scotiabank and have your mortgage there also, transfering your mortgage transfer from Scotiabank to one of our lenders may be easy. Some private lenders may offer to pay some of transfer costs or penalties that Scotiabank may charge you.
Please call us and get our advice and opinion on Scotiabank home mortgages or open/closed variable/fixed rate mortgages offered by the other major banks, and how our lenders may be a much better fit for you.
About Scotiabank
Scotibank is puportedly one of Canada's largest lenders. The bank recorded an improved revnue of $1.54 billion in the first three months of 2011 compared with $1.1 billion a year in 2010.
Whether it is a home or commercial mortgage, we believe we can find a superior to BMO mortgages, TD Canada Trust Mortgages, Scotiabank Mortgages, Royal Bank Mortgages, or CIBC Mortgages. If you're currently a BMO customer, please don't be resigned to a less optimal home mortgage. In Internet, a better home mortgage with lower mortgage rates is just a click away. You may be happy with your Scotiabank mortgage rate, but we'll do all we can to find a superior product to your current mortgage offer.
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Scotiabank Mortgage Alternatives
If you're curious about whether there some better alternatives to Scotiabank mortgages, why not get a quote from us or discuss competing mortgage products with us.
Finding the Best Mortgage
A mortgage broker is trained to help homebuyers find the best mortgage for that buyers situation and needs. A bank will only sell the specific mortgage products offered by their mortgage department. With one bank, selection is limited. Further, some banks will not work with a mortgage broker which you probably know is not a good approach to business in this day and age. We source mortgages from many lenders and out of that huge pool of mortgage products, we are sure we'll find the right offer for you.
Types of Mortgage Products
Your new broker's role is determine the best mortgage product for you and then communicate the advantages and disadvantages of each. Only by understanding the strengths and limitations of each mortgage will you be able to make the right purchase decision. The variety of products available is vast. Here are the most common types of mortgage products:
- Partially amortized, blended constant payment mortgage - fixed rate
- partially amortized, blended constant payment mortgage - variable rate
- partially amortized, blended variable payment mortgage - variable rate
- Interest only mortgage
- Home Equity Line of Credit
- Interest accruing mortgage
- Reverse mortgage
- Straight line Principal reduction mortgage
- Graduated payment mortgage
Scotiabank Mortgage Rates (note: these are rates posted for June 13, 2011 and may not be current)
| Type | Term | Posted Rate | Special Rate |
| Fixed Rate | 1 year Open | 4.3 % | |
| Fixed Rate | 2 year Closed | 3.95 % | |
| Fixed Rate | 3 year Closed | 4.55 % | |
| Fixed Rate | 5 year closed | 4.19% | |
| Fixed Rate | 10 year closed | 6.79 % | |
| Variable Rate | 3 year open | ||
| Variable Rate | 5 year closed | 3.0 % |
Compare the above rates to BMO Rates, CIBC Rates, TD Canada Trust rates, Royal Bank rates, HSBC rates, and ING Direct rates.
Open or Closed Mortgages
You will have to decide on whether to purchase an open or closed mortgage. An open mortgage allows you to pay off the mortgage anytime without penalty. A closed mortgage is not the same as a variable rate mortgage. And closed is not the same as a fixed rate. "Closed" refers to the fact that you can't pay off the loan early, unless your property is sold "at arms length."
We can educate you on the types and varieties of mortgage interest rates available. Contact us now or apply online so we can get started.
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