Diversify your mortgage with Scotiabank mortgage loan solutions

Here’s a thought: imagine becoming
mortgage-free sooner. By taking years off your mortgage you
would save thousands in interest, tens of thousands actually, letting you keep more of the money you work so hard for. With the flexibility of STEP, our Scotia
total equity plan, you can make it happen. Now, you’re
probably familiar with fixed and variable rate mortgages. Fixed means you’re locked in at a certain
interest rate, while variable means your interest rate is subject to change. But did you know you could combine the
two with STEP by choosing a mix of fixed and variable rates, your mortgage could
become more flexible and better able to take advantage of, not
to mention protected against changes in the markets and with interest
rates. When you don’t have all your eggs in one basket you can take advantage of
low interest rates in the short-term while protecting against interest rate
increases over the long-term. Another option is combining a short, say
a one-year with a long five year term mortgage to
create a rate that is a blend of both. Splitting your mortgage is a great way
to pay down your mortgage sooner and guard against interest rate
fluctuations. Find out how you can become mortgage-free sooner. Start by talking to Scotia advisor who
can build the right plan for you.

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