Everyone’s mortgage payment will be different. Several things affect your mortgage payment amount, such as:

• The price you pay for your home
• The interest rate you pay on your mortgage
• How often you make payments, from weekly to monthly
• If the interest rate is fixed or variable
• The length of time over which you agree to repay your mortgage, which is known as your mortgage amortization period

Scotiabank offers a number of tools designed to help you understand and explore your mortgage options.

To understand how your mortgage costs will change based on current rates, and changes to payments and frequency, please try our mortgage calculator tool.

To calculate how prepayments may reduce your overall mortgage costs, try our mortgage prepayment calculator tool.

To understand how to use your Scotia Total Home Equity Plan (STEP) to save on your mortgage, try our STEP calculator tool.

To calculate the mortgage amount you may qualify for, try our mortgage affordability calculator tool.