Why deal with Centum Mortgage Express?

Centum Mortgage Express is in the mortgage business independent of any one lending centre. Their agents are accredited professionals who have completed a prescribed course meeting the requirements of the Financial Services Commission of Ontario (FSCO). Their objective is to analyze the clients needs and make the best fit with a lender that best meets that need.

What lenders can one expect through Centum?

There are approximately 50 lenders the agent can approach dependent on the needs of the client. Those lenders range from chartered banks, insurance companies, credit unions and trust companies to private lenders.

What rate can I expect through the brokerage?

The rate will depend on the particulars of the individual client and the terms of the mortgage. An individual with a good credit record interested in a variable rate loan will find the rate to be very competitive and quite possibly better than many other avenues available. It is definitely in your best interest to at least take the time to see what one of our agents can offer.

What is the best term for a mortgage?

That will depend on whether your priority is to pay off the loan as quickly as possible, saving interests costs, or to keep the payments low to avoid additional cash pressures during the term of the mortgage.
The shorter the term the lower the rate. Our agents will work with you to make sure it is the right fit to meet your priorities.

What does it cost me to work through Centum?

In most cases there is no cost to you to use our services. It is the lender that pays a commission to Centum. If there is a charge the agent will discuss those fully before the deal is finalized.

What is the process?

You would complete an application with the agent which gives the full particulars of your request. The agent would than with your permission run the required credit report and choose the most appropriate lender. The agent would submit the information to that lender and discuss with them as deemed necessary. If all information has been submitted and there are no outstanding questions the completed approval could be back within 24 hours.

What can one expect for closing costs?

When budgeting for closing costs count on approximately 1.5% of the purchase price of your home. For example on a $250,000 home purchase you can anticipate closing costs, including legal fees, to be $3,750.

If I am self employed and can’t demonstrate a constant income will I be able to get a mortgage?

The qualifying process will be somewhat different with differences possible in rates and terms but a mortgage tailored for you is achievable providing you have good credit history and can show that you will have equity in your home.

If turned down by a bank will it still be possible to get a mortgage?

Yes depending on your credit history and the particulars of your purchase there are still opportunities through Centum to arrange your mortgage.
Please give us a call so one of our agents can begin working on your file.
One of the advantages of working through Centum is the wide range of lenders that are available.