Additional Payments
Lump sum payments
$7,000 annually
If you are a Scotiabank mortgage customer, depending on the mortgage solution that you select, each year you can increase your scheduled monthly payments by up to 10%, 15% or 20% of the payment initially set for your term (or in some cases, your current payment) and make a lump sum prepayment of up to 10%, 15% or 20% of your original principal amount without incurring a prepayment charge. If you have a mortgage with another lender, your prepayment options may be different. Please refer to your mortgage documents for details on your prepayment options.
This is not a quote. Mortgage insurance estimate is for illustration purposes only as premiums are dependent on your age, number of borrowers and type of coverage. Includes applicable insurance provincial taxes. Eligibility conditions apply. A sample Certificate of Insurance is available on scotiabank.com/insurance.