Types of Mortgages

Types of Mortgages

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While a mortgage is fundamentally a loan that is secured against your home, there are many variations to the type of mortgage that can be used for various needs. Based on your goals and risk characteristics there may be a number of different mortgage products that will meet your needs.

Below you will find a sampling of the many different types of mortgages that you may be exposed to. While there are hundreds of other combinations – these are the ones you will most commonly hear about or come across. Trying to figure out which is appropriate for your situation may seem daunting, but we take great care to not overwhelm you during the process. For this reason, one of the first steps in our mortgage process is to arrange a consultation where we can discuss and review your financial goals in detail – and then go over some options of the type of mortgage that may be right for you.

With a full suite of solutions as individual as your needs, We will work with you to use your home equity in a way that makes sense for you.

 Residential Mortgages

  • Prime mortgages well below posted rates
  • Mortgages for credit impaired customers
  • Construction and bridge financing
  • High ratio 2nd and 3rd mortgages
  • Financing up to 104% loan-to-value
  • Self-employed and new immigrant programs
  • Professional Advice, Lower Rates

First Mortgages

At Centum, we look at the whole picture to approve your mortgage.

  •  Difficult Situations
  • Self Employed
  • Non Income Verifiers
  • Credit Issues
  • Financial Distress Situation

Residential Second Mortgages

  • Second Mortgages to Meet Individual Needs
  • Consolidate debts to improve cash flow.
  • Other good purposes.
  • Turn home equity into cash for renovations, vacations, weddings, or education.
  • Investments that earn a return on your home equity.

Commercial & Industrial Mortgages

  •  Plazas, factories and office buildings
  • Raw land, institutional and specialty properties
  • Land servicing and development financing
  • Apartment buildings from fourplex to high rise

Whether you’re looking to invest, buy commercial or industrial property, lower your debt, pay for life’s big expenses or looking to refinance your current mortgage, we will help craft a smart solution for you. It’s our promise that we won’t make a loan that doesn’t make sense for your budget or your needs.

We provide the mortgage you need:

  •  Pre-Approved Mortgage
  • Conventional Mortgage
  • High-Ratio Mortgage
  • First Mortgages
  • 2nd & 3rd Mortgages
  •  Open Mortgages
  • Closed Mortgages
  • Fixed-Term Mortgages
  • The Adjustable Rate (A.R.M.) Mortgage
  • Secured Lines of Credit
  • Equity Mortgages
  • Multiple Term Mortgages
  • Bridge Financing


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