Our adjustable rate mortgage program that offers you a one time, no cost modification to a fixed rate, on your 1st National residential mortgage.

• One time modification to a fixed rate 1st National Bank of Scotia mortgage product

• Requests accepted in writing, anytime during the term of the loan

• Offer specific to fixed rate change only

• Current account must be in good standing*

*Borrower must meet 1st National Bank of Scotia underwriting standards at the time of the modification request. Offer available to all new adjustable rate mortgage applicants as of 6/12/2023.

No PMI Mortgages

Our Borrow More, Pay Less program will allow you to make your dream castle a reality. Take advantage of this special program and avoid paying secondary market fees and private mortgage insurance.

• Up to 90% financing available*

• No Private Mortgage Insurance

• Purchase or refinance

• No Points

• Escrow available

• One and two unit residential owner-occupied properties only

• Competitive fixed rate programs with 10-30 year terms

*Purchase transactions based on the lower of the appraised value or purchase price. Refinance transactions based on third party appraised value.

First time homebuyers* can qualify for a grant up to $20,000 toward down payment and closing cost assistance.

• Loan amount up to $400,000.

• Household must meet income guidelines for the county where they are purchasing property.

• Homeownership counseling program required.

• Available for 1 – 2 unit primary owner occupied residences, including condos and townhouses.

• Escrow is required for taxes and homeowners insurance

• Up to 3% seller paid contributions and gifts acceptable

• No Private Mortgage Insurance

• Property must be free of safety, soundness or habitability issues

• Must own and occupy the home for 5 years.

*First time homebuyer defined as not owning any type of real estate within the last 3 years from the date of application.

New Construction Loans

Helping your dream home come to life.

• For new construction

• Up to 300 day rate lock from time of application

• Both adjustable and fixed rates available

• Automatic loan payment required

• Escrow option available

• No Private Mortgage Insurance (PMI) required

• Maximum 90% LTV (based on purchase price or appraised value whichever is less) up to

• Freddie Mac Single Family Limit

• Jumbo financing available up to 85% maximum LTV (based on purchase price or appraised value whichever is less)

• Purchase transactions including land and home for 1 unit owner occupied, stick built construction

• Originated and serviced by local lender