Home Equity Loan

Right for you if:

  • You want to use the equity of your home to finance the purchase of motorcars, kitchen appliances, and more

  • Own your own home? Why not make it work for you?

    The equity in your home is the difference between its current appraised market value and the outstanding mortgage balance. A Home Equity Loan is a one-time lump sum advance of that difference, which is paid off over a fixed period with the same payments each month.

    A Scotia Home Equity Loan will allow you to borrow up to 75% of the appraised value of your home.

    With convenient monthly payments at competitive interest rates you can borrow up to  US$150,000 and have up to 15 years to repay.

    Loans are easy to apply for with repayment terms customised to fit your budget. Plus monthly payments are charged directly to your deposit account, making it easier to manage.

    What do you need to apply?

  • A copy of the title to your home

  • Tax Registration Number (TRN)

  • Employed: job letter and last two pay slips

  • Documentary evidence to support the loan purpose

  • Valid ID: passport or drivers license

  • Verification of income

  • Self-employed: bank and financial statements for the past 12 months

  • Getting a home equity loan might be a very effective way to get some things done that you can't afford from your cash resources.

    *The Home Equity Loan product has been temporarily suspended

    Fees and Terms

    Jamaican $ base rate


    borrow up to

    75% of the appraised value of your home

    borrow up to


    See our current rates and fees for Scotiabank borrowing products.

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    Your home is one the biggest purchases—and greatest assets—you possess. It's more than just a place to live and raise your family, it's a source of equity you can use to finance home renovations, other major purchases and even paying for your children's education. Scotiabank can help you unlock the value of your home.

    Read More

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