Discount Mortgage Canada

Centum Discount Mortgages Canada Inc. was founded by Roy Singh who started his career as a Life Underwriter/Financial Planner with Sun Life in 1982. One of the greatest challenges he encountered as an agent when working with his clients was the enormous debt load they often carried.

This debt load prevented most people from reaching their financial dreams, because they were simply taking all their money to pay for existing debts and not being able to save for the future.Roy started searching for alternatives to somehow consolidate all of these debts and reduce the interest and the monthly outlay for his clients.

Brokers have access to numerous lenders so they can find you the best rate on the market. They are professionals who are licensed by the Provincial Government and must carry Errors and Omission Insurance which ensures they are credible service providers. Even though Mortgage Brokers have been around for years and are taking large market shares from The Major Banks, some people don't know why they should use a Broker.

The Bank of Montreal was founded in 1817. A number of other banks later followed. The British North America Act of 1867 a.k.a. Constitution Act 1867 let the Crown grant rights to Canadians of land use. Today in Ontario the Crown owns the residual interest in land. Originally mortgages were provided mainly by insurance companies.

Industrial Alliance - Is a Canadian Insurance company that also offers mortgages through the Broker channel. A great lender with fantastic rates but they are very picky in terms of the client they are willing to take on and have very stringent underwriting policies. First National - First National is Canada's largest non-bank lender, offering both commercial and residential mortgage solutions.

So, you are thinking of buying your first home in Ontario, but where do you start? Buying a home should be a pleasure and can be, providing you follow a step-by-step approach. After all, this is probably the biggest investment you will make and you owe it to yourself to do this right. This short 5 minute video will take all of the mystery out of the approval process so you'll be better informed when shopping for a mortgage.