More than just a mortgage, it is a credit plan built around the value of your
residence.
Maximum 75 % Loan to Value Ratio.
Borrowers are approved up to a maximum loan amount, that is registered
against the title. Borrowers can then select the following products to use
in that approved loan amount : mortgage, secured line of credit, Visa,
personal loans, overdraft protection.
Secured Line of Credit Option
At Prime Rate
Minimum Interest Only Repayments Required !
Monthly Statement showing your balance
Fully Open, can pay off any amount at any time
The least expensive way to finance a home !!
Can convert to a fixed rate mortgage at any time, without cost.
Borrowers can easily switch the amounts in the different categories without
having to reapply and get approved again.
Don't have to reapply for a new 1st. mortgage or a 2nd. mortgage to have
access to the unused amount in within the original approved maximum loan
amount - you can simply write a cheque.
Excellent for such uses as purchasing a home, renovations, financing a new car, paying for a child's
education, or taking equity out to purchase a vacation home or investment.
You can apply through this site, right now.
Scotia Total Equity Plan ( STEP) Mortgage