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Category: Types Of Mortgages

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Types Of Mortgages

Private Mortgage Lenders Ottawa – Your Trusted Lending Partner

Private Mortgage Lenders Ottawa

Private Mortgage Lenders Ottawa – Your Trusted Lending Partner

At Bank Street Mortgage, we understand that not everyone fits into the strict lending rules set by traditional banks. That’s why we specialize in providing customized private mortgage solutions for homeowners, investors, and first-time buyers in Ottawa. Whether you’re self-employed, have a poor credit history, or need fast approval, our private mortgage lending services give you flexible, reliable, and stress-free financing options.

Unlike large banks that use a one-size-fits-all approach, we focus on your unique financial situation and property value. This personalized process has made Bank Street Mortgage one of the most trusted private mortgage lenders Ottawa, helping clients achieve their homeownership and investment goals quickly.

Why Choose Private Mortgage Lenders in Ottawa?

Traditional banks and credit unions operate under federal regulations with strict lending requirements. This can make it difficult for many borrowers especially those with non-traditional income or damaged credit to get approved.

Private mortgage lenders, on the other hand, provide flexibility. Instead of judging you solely on credit scores, they focus on property equity and overall value, giving more people the chance to access funding.

Benefits of Private Mortgage Lenders Ottawa

  • Faster Approval Times – Get access to funds in days, not weeks.
  • Flexible Credit Requirements – Perfect for borrowers with poor or limited credit history.
  • Tailored Mortgage Solutions – Loans designed around your specific needs.
  • Bridge Financing Options – Great for buyers transitioning between homes.
  • Debt Consolidation Opportunities – Combine multiple debts into one affordable monthly payment.

At Bank Street Mortgage, we provide all these advantages with the added trust and expertise of a local Ottawa mortgage team.

Types of Private Mortgage Solutions in Ottawa

1. First Mortgages

For buyers who don’t qualify with banks, private first mortgages open the door to homeownership. We evaluate your property’s value and location rather than applying unnecessary restrictions.

2. Second Mortgages

Second mortgages allow homeowners to unlock the equity in their property. This is ideal for:

  • Paying off debts
  • Renovations and upgrades
  • Business investments
  • Education funding or major expenses

3. Home Equity Loans

Leverage the value of your home with a private home equity loan. At Bank Street Mortgage, we ensure this process is fast, smooth, and stress-free so you can access the funds you need.

4. Bridge Financing

Buying a new home before selling your existing one? Our bridge loans provide financial flexibility so you can move without delays or added stress.

5. Debt Consolidation Mortgages

If you’re juggling multiple high-interest loans, a debt consolidation mortgage can simplify everything into one manageable monthly payment, reducing stress and financial pressure.

How Bank Street Mortgage is Different from Other Ottawa Lenders

While Ottawa has many private lenders, Bank Street Mortgage consistently stands out. Here’s why:

  • Local Expertise – Deep knowledge of Ottawa’s real estate and lending market.
  • Fast Approvals – Streamlined process to secure funding quickly.
  • Wide Investor Network – Access to multiple private investors ensures the best possible rates.
  • Flexible Solutions – Every mortgage plan is custom-tailored to fit your needs.
  • Transparent Service – No hidden fees or surprises, just honest guidance.

Top Private Mortgage Lenders in Ottawa (2025)

Several lenders operate in Ottawa, but the top providers include:

  • Bank Street Mortgage – Flexible, fast, and reliable private lending.
  • Equitable Bank – Offers alternative lending products.
  • Home Trust – Works with clients who have unique credit situations.
  • Mortgage Alliance Ottawa – Access to various mortgage solutions.
  • CanWise Financial – Competitive lending programs.

While others may provide options, Bank Street Mortgage remains the #1 trusted choice, thanks to our personalized service and strong local presence.

Who Can Benefit from Private Mortgage Lenders Ottawa?

Private mortgages are not only for those who have been turned down by banks. They are a smart solution for many borrowers, including:

  • Self-Employed Individuals – With irregular or non-traditional income.
  • New Immigrants – Without established Canadian credit history.
  • Real Estate Investors – Looking for quick, flexible funding.
  • Homeowners with Bad Credit – In need of refinancing or debt relief.
  • People Facing Foreclosure – Who require urgent financial help.

Private Mortgage Rates in Ottawa

Private mortgage rates are generally higher than traditional banks, as they carry more flexibility and risk tolerance. Rates vary based on:

  • Loan-to-value ratio
  • Property type and condition
  • Location and overall risk assessment

At Bank Street Mortgage, we leverage our investor network to negotiate the most competitive private mortgage rates in Ottawa, always tailored to your financial situation.

Steps to Secure a Private Mortgage with Bank Street Mortgage

  1. Initial Consultation – Share your goals and financing needs.
  2. Property Evaluation – We assess the value and equity in your home.
  3. Tailored Mortgage Plan – A financing solution is designed around your situation.
  4. Approval & Funding – Fast approval and quick access to funds.

Why Ottawa Residents Trust Bank Street Mortgage

Ottawa is a diverse city, and each client has unique needs. Whether you’re a first-time buyer, an investor, or someone seeking debt relief, Bank Street Mortgage is the trusted name in private lending. Our experience, transparency, and customer-first approach ensure you receive solutions that truly work for you.

Conclusion

If you are searching for private mortgage lenders Ottawa, look no further than Bank Street Mortgage. We offer fast approvals, flexible solutions, and transparent service, making us the trusted partner for homeowners, investors, and buyers across the city.

Take the next step toward achieving your financial goals contact Bank Street Mortgage today and let us help you secure the right mortgage solution for your future.

 

Categories
Types Of Mortgages

Best Mortgage Insurance Providers in Ottawa

Best Mortgage Insurance Providers in Ottawa

Best Mortgage Insurance Providers in Ottawa

Ottawa’s housing market has been steadily rising, making it one of the most competitive real estate markets in Canada. With higher home prices and stricter lending rules, many buyers struggle to make homeownership both accessible and affordable. This is where mortgage insurance becomes essential. It acts as a financial bridge, allowing families to secure financing with smaller down payments while protecting both borrowers and lenders.

When it comes to finding the best mortgage insurance providers in Ottawa, making the right choice can significantly impact your long-term financial security. The right provider not only helps you enter the housing market sooner but also ensures your investment and family are well protected. Among the leading options, Bank Street Mortgage stands out as a trusted local partner, guiding Ottawa homebuyers with personalized advice and tailored insurance solutions.

Why Mortgage Insurance Matters in Ottawa

Mortgage insurance is more than just a formality it’s a tool that makes homeownership possible for many families in Ottawa. One of its key benefits is that it enables buyers to enter the market with as little as 5% down, instead of waiting years to save the traditional 20%. This flexibility is especially valuable in a city where property prices continue to climb.

Another important factor is financial protection. Mortgage insurance protects lenders against the risk of borrower default, ensuring that they can confidently approve loans. At the same time, borrowers indirectly benefit because insurance gives them access to mortgages that would otherwise be denied. As Ottawa’s housing prices rise, mortgage insurance has become increasingly relevant and often the only way first-time buyers can compete in the market.

Understanding Mortgage Insurance

What is Mortgage Insurance?

Mortgage insurance is a financial safety net that comes in different forms. Mortgage default insurance protects the lender in case a borrower fails to make payments, while mortgage life, disability, or critical illness insurance protects the borrower and their family by covering the loan or monthly payments under unforeseen circumstances.

Who Needs It in Ottawa?

In Ottawa, buyers who put down less than 20% of a home’s purchase price are required by law to obtain mortgage default insurance. This allows them to secure a mortgage with a smaller upfront investment. Additionally, families who want to protect themselves from unexpected life events such as death, illness, or loss of income may also choose life or disability mortgage insurance, even if it isn’t mandatory.

Types of Mortgage Insurance

There are three main types of mortgage insurance relevant to Ottawa homeowners:

  • Mortgage Default Insurance: This is mandatory for buyers with down payments under 20%. In Canada, it’s offered by three providers CMHC, Sagen (Genworth), and Canada Guaranty.
  • Mortgage Life Insurance: This coverage pays off your outstanding mortgage balance if you pass away, ensuring your family isn’t left with debt.
  • Disability & Critical Illness Coverage: If you are unable to work due to illness or injury, this coverage steps in to cover your mortgage payments so you don’t risk losing your home during difficult times.

Why Mortgage Insurance is Essential in Ottawa

The primary reason mortgage insurance is essential in Ottawa is the high cost of housing. With prices rising, saving a 20% down payment has become a challenge for many families. Mortgage insurance allows them to enter the market sooner.

It also plays a crucial role in protecting families and investments. A sudden illness, accident, or job loss can put financial stress on a household. With proper coverage, you can ensure that your loved ones are not forced to sell their home if something unexpected happens. Finally, in cases where the down payment is less than 20%, mortgage default insurance is mandatory, making it an unavoidable part of the buying process.

Bank Street Mortgage: Your Trusted Mortgage Partner

Among the many options available in Ottawa, Bank Street Mortgage has built a reputation as a reliable and customer-first mortgage brokerage.

They provide a wide range of services including first-time buyer mortgages, refinancing, and detailed insurance advice. What makes them stand out is their local expertise they understand the Ottawa market and provide independent guidance rather than pushing one product. Most importantly, they offer personalized insurance guidance, helping clients compare different policies from multiple providers to find the most affordable and effective coverage for their unique situation.

Top Mortgage Insurance Providers in Ottawa

When evaluating the best mortgage insurance providers in Ottawa, you’ll find both government-backed and private companies.

  • Bank Street Mortgage acts as a broker, giving you access to a wide variety of providers.
  • CMHC (Canada Mortgage and Housing Corporation) offers government-backed mortgage default insurance.
  • Genworth Canada (Sagen) is a leading private option for default insurance.
  • Canada Guaranty provides a third option for default coverage.
  • Manulife specializes in life, disability, and critical illness coverage.
  • Sun Life Financial offers flexible life and health insurance products tied to mortgages.
  • TD Insurance provides mortgage insurance for TD mortgage clients.
  • RBC Insurance offers flexible mortgage life and disability coverage.
  • Desjardins is a strong option for affordable mortgage protection, particularly valued in Ottawa’s Francophone community.

Comparing Mortgage Insurance Providers

When choosing a provider, consider these factors:

  • Flexibility & portability: Some insurance is tied to your lender, while independent policies allow you to switch lenders without losing coverage.

  • Coverage options: Do you need only default insurance, or additional life and disability protection?

  • Premium costs: Default insurance premiums are set by the government, while private policies vary based on age, health, and mortgage size.

Government-Backed vs Private Mortgage Insurance

Key Differences

  • Government-backed: CMHC, Sagen, and Canada Guaranty only cover default risk.
  • Private insurers: Companies like Manulife, Sun Life, and Desjardins provide life, disability, and illness coverage.

Pros and Cons

  • Private insurance provides borrower protection and flexibility but comes at varying costs.

  • Government-backed insurance is stable and required by law but offers no personal protection.

How to Choose the Right Mortgage Insurance Provider

Selecting the best provider requires careful consideration. Start by assessing your financial needs. For example, young families with dependents may want life and disability protection in addition to default coverage. Next, compare quotes from multiple providers to ensure you’re not overpaying. Finally, evaluate the customer service reputation of the provider. In times of crisis, fast and reliable claims handling is just as important as the cost of premiums.

The Role of Brokers in Finding the Best Insurance

Working with a broker such as Bank Street Mortgage can simplify the process. Brokers are not tied to one bank or insurer, so they can give you a broader view of the market. They also provide professional guidance, helping you navigate the fine print and avoid common pitfalls such as paying for overlapping coverage. This not only saves time but also ensures that the policy you choose truly meets your needs.

Mortgage Insurance vs Traditional Life Insurance

  • Which offers better value? Traditional life insurance often costs less per dollar of coverage and is not tied to your mortgage balance.

  • Flexibility differences: Mortgage life insurance only covers your loan; traditional life insurance can cover other expenses and remain even if you change lenders.

Tips to Lower Your Mortgage Insurance Premiums

  1. Increase down payment: A higher down payment reduces or eliminates the need for default insurance.
  2. Improve your credit score: Strong credit can lower premiums for life or disability insurance.
  3. Shop around: Don’t settle for your lender’s default policy; compare independent options.

Common Mistakes to Avoid

Many buyers in Ottawa make the mistake of automatically accepting their bank’s mortgage insurance without comparing alternatives. This can result in higher costs and limited coverage. Another common error is not reviewing coverage regularly. As your mortgage balance decreases and your life circumstances change, your insurance needs may evolve. Lastly, be mindful of hidden fees and policy restrictions that can reduce flexibility.

Future of Mortgage Insurance in Ottawa

Looking ahead, Ottawa’s housing affordability challenges mean mortgage insurance will remain a key part of the homebuying process. The market is also evolving, with more demand for portable and customizable policies that adapt to borrowers’ changing needs. Expect insurers and brokers alike to focus more on flexible products that provide both protection and value.

Conclusion

Mortgage insurance is a cornerstone of the Ottawa housing market, giving first-time buyers the ability to purchase a home with a smaller down payment and providing families with the peace of mind that their investment and loved ones are protected. Choosing the best mortgage insurance providers in Ottawa can make a significant difference in both affordability and long-term security.

Homebuyers have access to government-backed providers such as CMHC, Sagen, and Canada Guaranty, which make ownership possible for those with less than 20% down. At the same time, private insurers like Manulife, Sun Life, and Desjardins offer additional protection through life, disability, and critical illness coverage. By working with a trusted local partner like Bank Street Mortgage, Ottawa buyers can compare options, receive expert guidance, and select the coverage that best fits their budget and long-term financial goals.

FAQs

What is the most reliable home insurance company in Canada?
At Bank Street Mortgage, we connect clients with trusted insurance partners, ensuring reliable and tailored home insurance solutions designed to protect both your property and your peace of mind.

What is the average mortgage insurance rate in Ontario?
With Bank Street Mortgage, mortgage insurance rates in Ontario depend on your down payment, typically ranging between 2.8% and 4.0% of the mortgage amount. We help you calculate and secure the best option for your budget.

Who is Canada’s largest mortgage insurance company?
Through Bank Street Mortgage, clients gain access to Canada’s leading mortgage insurance providers. We simplify the process, making sure you receive the right coverage from the country’s top insurers.

Who are the best mortgage providers?
Bank Street Mortgage is recognized as one of the best mortgage providers, offering expert guidance, competitive rates, and personalized solutions to help Ottawa and Ontario homebuyers achieve their financial goals.

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Types Of Mortgages

Best Commercial Real Estate Mortgage Firm in Ontario

Best Commercial Real Estate Mortgage Firm in Ontario

Best Commercial Real Estate Mortgage Firm in Ontario

Ontario stands as one of Canada’s most dynamic real estate markets, offering unparalleled opportunities for commercial property investors. From Toronto’s ever-evolving skyline to expanding suburban hubs like Mississauga, Hamilton, and Ottawa, commercial real estate continues to grow as a preferred investment choice.

Behind every successful property deal is a strong financial foundation and that’s where specialized commercial mortgage firms play a crucial role. They connect investors with lenders, provide expert guidance, and ensure projects receive the financing they need to thrive.

Why Ontario is a Hotspot for Commercial Investments

Ontario’s appeal lies in its robust economy, high population density, and business-friendly environment. With thousands of new residents arriving each year, demand for office spaces, retail plazas, industrial warehouses, and multi-family housing continues to climb.

For businesses and investors, this means not just opportunity, but also competition. Having a reliable financing partner is the difference between securing the right property at the right time or missing out on growth.

The Role of Mortgage Firms in Property Growth

Commercial mortgage firms serve as the bridge between property owners and lenders. Unlike traditional banks, these firms offer tailored loan solutions that align with each investor’s financial goals. Whether you’re acquiring a new office building, refinancing an industrial complex, or funding a large development project, mortgage firms streamline the process so you can focus on growth.

Who is Bank Street Mortgage?

Company Overview

Bank Street Mortgage is a leading name in Ontario’s commercial real estate financing sector. Known for their deep market knowledge and client-first approach, the firm helps business owners and investors secure customized loan packages designed for long-term success.

Mission and Core Values

Bank Street Mortgage operates with a clear mission: to empower clients with financial solutions that fuel real estate success. Their values integrity, transparency, and personalized service have made them a trusted partner for investors across Ontario.

Why Choose Bank Street Mortgage for Commercial Real Estate Loans?

Expertise in Ontario’s Real Estate Market

With in-depth knowledge of Ontario’s commercial property landscape, Bank Street Mortgage gives clients a competitive edge. They know where opportunities are growing and how lenders view different asset classes.

Tailored Loan Solutions

No two investments are alike. Bank Street Mortgage takes the time to understand each client’s unique goals, structuring loans that minimize risk while maximizing returns.

Competitive Interest Rates

Through strong lender relationships, they negotiate competitive commercial mortgage rates that help investors improve cash flow and overall profitability.

Strong Industry Connections

From developers to private lenders, their extensive network ensures clients have access to the best financing options in Ontario.

Services Offered by Bank Street Mortgage

    • Commercial Property Financing – Office, retail, and industrial spaces designed for long-term investment.

    • Multi-Family Unit Mortgages – Financing solutions for apartment complexes and rental properties.

    • Construction and Development Loans – From blueprint to completion, they fund development projects of all sizes.

    • Refinancing Options – Restructure existing loans for better terms, lower rates, or equity take-outs.

    • Private Lending Solutions – Creative financing for unique opportunities where traditional lenders may hesitate.

The Mortgage Process with Bank Street Mortgage

    1. Initial Consultation – Understanding your business objectives and financing requirements.

    1. Application and Pre-Approval – Simplified documentation and fast pre-approval timelines.

    1. Loan Structuring – Crafting customized terms that balance affordability with profitability.

    1. Closing the Deal – Ensuring a smooth, transparent, and stress-free closing process.

Benefits of Working with a Specialized Commercial Mortgage Firm

Industry Knowledge

Specialized firms bring insights into market cycles, investment risks, and lender expectations that general lenders often lack.

Risk Assessment and Mitigation

Bank Street Mortgage identifies potential risks early, helping clients safeguard investments and make informed decisions.

Long-Term Financial Planning

They look beyond a single transaction, offering strategies that support your real estate growth for years to come.

Ontario’s Commercial Real Estate Market Trends

Current Market Overview

Ontario remains attractive for investors due to its stable economy and consistent population growth. Industrial properties and multi-family housing lead demand.

Key Investment Areas in Ontario

Toronto, Ottawa, Mississauga, and Hamilton continue to rank among the top cities for commercial real estate thanks to strong employment and infrastructure projects.

Future Growth Predictions

With ongoing urban development and government investment in infrastructure, Ontario’s commercial real estate outlook remains strong and positive.

Success Stories with Bank Street Mortgage

Case Studies of Successful Clients

From financing retail expansions to supporting large-scale developments, Bank Street Mortgage has helped clients achieve significant milestones in Ontario’s property market.

Testimonials and Client Experiences

Clients consistently praise their professionalism, responsiveness, and ability to secure favorable financing terms even in competitive markets.

How Bank Street Mortgage Stands Out from Competitors

    • Personalized Service Approach – Individualized attention you won’t find at major banks.

    • Transparent Processes – Clear communication from application to closing.

    • Proven Track Record – A history of helping clients grow their commercial portfolios successfully.

Tips for Securing the Best Commercial Real Estate Mortgage

    • Assess your financial position before applying.

    • Gather all necessary documentation in advance.

    • Choose a loan structure that aligns with your short-term and long-term investment goals.

Common Challenges in Commercial Real Estate Financing

    • Market Volatility – Shifts in demand and property valuations.

    • Rising Interest Rates – Impacts on affordability and cash flow.

    • Strict Lending Requirements – Traditional banks often apply rigid criteria.

How Bank Street Mortgage Helps Overcome These Challenges

Bank Street Mortgage uses flexible financing strategies, strong lender relationships, and proactive risk management to ensure investors secure deals even during challenging market conditions.

Why Location Matters in Commercial Real Estate Investments

The success of any commercial investment is tied to location. Prime locations attract quality tenants, reduce vacancy rates, and increase long-term property value. Bank Street Mortgage helps clients identify and finance properties in Ontario’s strongest markets.

Conclusion

Ontario’s commercial real estate market is thriving, and having the right mortgage partner is critical to success. With a client-first approach, tailored loan solutions, and a proven track record, Bank Street Mortgage stands out as the best commercial real estate mortgage firm in Ontario. Whether you’re purchasing, refinancing, or developing, they’re the team to trust.

FAQs

1. What types of commercial properties does Bank Street Mortgage finance?
They finance offices, retail outlets, warehouses, multi-family housing, and development projects.

2. How long does the mortgage approval process take?
Pre-approvals can often be completed within days, while full approvals depend on project complexity.

3. Can Bank Street Mortgage help with refinancing existing loans?
Yes — they offer refinancing solutions to secure better rates, terms, or equity.

4. What is the current commercial mortgage rate in Ontario?
Typical Ontario commercial mortgage rates for fixed terms range from 5.6% to 5.85% for 1–5 year fixed loans, or roughly prime + 1.5%, putting variable rates around 7.4–7.5%.

5. What is the best commercial real estate firm?
There’s no single “best”—the ideal firm depends on your needs. In Ontario, Bank Street Mortgage stands out for tailored service, but other notable names like CMLS Financial, First National, and Avison Young also have strong reputations.

6. Where is the best place to get a mortgage in Ontario, Canada?
For competitive rates and flexibility, look beyond big banks specialized mortgage brokers like Bank Street Mortgage or firms such as CMLS Financial and First National often offer better terms and more custom solutions.

7. How much do commercial mortgage brokers charge?
Broker fees typically range between 0.5% and 1.2% of the loan amount (paid by the lender), but in private or complex deals, fees can reach 1% to 2%.

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Types Of Mortgages

Transfer Your Mortgage

Transfer Your Mortgage

Renewing just about anything can be a hassle and a pain most of the time, not to mention expensive. Centum Bank Street Mortgage is committed to making your life a little easier when it comes to transferring your mortgage for free. Whether you live in Downtown Ottawa, Alta Vista, Kanata, or even Orleans, we’re here to help.

​A good rule to keep in mind is to not leave your renewal until the last minute. Since banks like to raise their rates when their clients are renewing, they usually only remind you to renew a month or so in advance so that you don’t have enough time to shop around for better mortgage rates for your home or commercial property in Ottawa. The reason they do this is because it gives them the ability to raise their rate by 40-50 biases point because it would be far easier for their existing Ottawa clients to sign a renewal then to remortgage or transfer their current mortgage.

The general process behind transfer of mortgage in Ottawa, Ontario is that when your mortgage is coming up for renewal, we can offer to switch your mortgage at a lower rate with a different mortgage provider or even the same lender for free. Keep in mind that there are some conditions, such as, both the mortgage and renewal must have the same amortization. In some cases, the mortgage amount must also remain the same. However, when it comes to seeing the big picture, the conditions have little impact on the transfer of your mortgage. Transferring during your time of mortgage renewal is a very successful way to save money and have lower interest rates. Did we mention we do it for free?

​Here at Centum Bank Street Mortgage, we like to provide you with all the information you need. You won’t find the kind of honesty and genuine care that you will with us here in Ottawa, anywhere else in Ontario and all of Canada for that matter. Homeowners usually are not aware of the process involved with transferring their mortgage and this, more often then not, results in simply renewing their mortgage with the same lender for a higher rate. We like to keep our clients informed so that you can save money and enjoy your new or existing home. The common misconception that most people have with transfer or switch of mortgages in Ottawa is that there will be some type of penalty; this is not the case since we don’t profit from you and since we have your best interests in mind. If we didn’t care, we wouldn’t be doing this for free.

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Types Of Mortgages

Mortgage Insurance

Ottawa Mortgage Insurance

Whether you’re dealing with a Mortgage Broker, Mortgage Agent, Bank or Lender usually when you purchase a home with 5 % Down payment10% Down payment 15 % Down Payment banks and mortgage lenders require Mortgage insurance:, Tthe three mortgage Insurance companies are Genworth, CMHC, Canada Guarantee.

​Is there a difference between mortgage insurance companies – All offer the exact same thing, but some are more flexible than others. It all depends on your mortgage application.

​What is mortgage insurance? Mortgage insurance offers the banks and lenders a guarantee that if a home owner was to default (meaning not pay the mortgage) if there are any losses on the property or any issues that arise from the default the mortgage insurance company will pay the bank or mortgage lender any outstanding principal on the mortgage

​Does mortgage insurance benefit the home owner? The real benefit from mortgage insurance is the benefit of putting down 5%, 10%. 15% 20% down. In the past, the mortgage down payment was 25% minimum.

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Types Of Mortgages

Foreign Income Mortgages

Mortgages for Foreign Income Earners

Attention foreign income earners! Centum Bank Street Mortgage located in beautiful Ottawa, Ontario Canada, knows how difficult it can be to finance a mortgage loan with foreign earned income. That being said, we provide you with the best service for all your needs, including those of you who earn foreign income.

​Evidently, obtaining a mortgage loan with foreign income is a stressful task, especially when so many banks frown upon overseas income earners. We’re able to help you with as low as 15% down as long as you meet a few of our requirements. If you have no credit here in Canada, all we require from you is a letter from a bank overseas indicating that you are a good client of theirs. We’re even able to help clients from countries that do not have a tax system. A good thing to keep in mind is that mortgage rates do vary depending on credit and location in the city center or suburbs of Ottawa or other large cities in Ontario.

​Regardless of whether you are employed by a company overseas or self-employed overseas, we have a mortgage program for you. This whole process can be, not only stressful, but also a little scary. We take the time here at Centum Bank Street Mortgage to make you feel safe and comfortable. You can walk away from us knowing that you’re in good hands with the confidence that you have professional mortgage brokers in Ottawa on your side who want to provide you with the best possible service and results.

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Types Of Mortgages

Commercial Mortgages

Hands holding cash and key near a large building

Commercial Mortgages Ottawa

Purchasing a home or commercial property is intimidating enough without having to stress over your mortgage and financial needs. Here at Centum Bank Street Mortgage in Ottawa, we make your priorities our priorities. Our vast knowledge, experience and diversity in commercial real estate mortgage finance gives our clients the confidence and trust in finding the right partner lending program to meet their Ottawa mortgage needs as well as their financial needs.

​Centum Bank Street Mortgage is a full service, privately owned commercial real estate mortgage firm. Whether you need a commercial loan with direct or partner programs, preferred partner programs, or whole loan sales, our mortgage brokers will be able to help. Our elite team of mortgage brokers has collected decades of commercial real estate experience in order to give you the most professional and best experience in the industry.

​The mission of Centum Bank Street Mortgage is to continue being the leading Mortgage Brokerage Operation not only in Ottawa, but also in all of Canada. We pride ourselves in setting and exceeding the standards and expectations set by the industry, our competitors, and clients with our professionalism, dependability and reliability. We are located in the Alta Vista area here in Ottawa surrounding Walkley and Heron Road in addition to being in close proximity to St. Laurent Boulevard. Regardless of our location, we still serve many clients from all over the city, including areas like Kanata and Orleans.

The mission of Centum Bank Street Mortgage is to continue being the leading Mortgage Brokerage Operation not only in Ottawa, but also in all of Canada.

Commercial lending is already a difficult and daunting task without the added stress of finding the right Ottawa mortgage broker for you. Lenders are, more often then not, quite picky with certain types of properties. Here at Centum Bank Street Mortgage, you can relax and gain confidence knowing your agent is qualified and experienced with over 15 years of commercial mortgage experience. We walk you through the necessary steps and procedures to make sure the end result is one you can be, not only satisfied with, but also happy about. We explain how to deal with Phase 1 and 2 reports and we set up all the appraisal and phase 1 and 2 appointments.​

Centum Bank Street Mortgage understands the importance of having choices. This is why we provide our clients who need a mortgage in Ottawa with a number of programs for first-time and low to moderate-income homebuyers. We negotiate with multiple lenders at a time in order to find you the best mortgage rates in Ottawa possible. And since we are not obligated to one specific lender, you gain the peace of mind in knowing that the end results will be something you’re happy with.

The problem nowadays with financing your Ottawa mortgage stems from the fact that you don’t get a variety or much say in what kind of loan you are able to receive. At Centum Bank Street Mortgage, we have programs that are bankable rates and programs for clients who do not meet today’s banking underwriting. When considering investing in an Ottawa mortgage, no one will bring forth the diversity and experience you need like Bank Street Mortgage. From straight multi-family retail commercial, we’ve got the products and partners to meet your financial needs.

We pride ourselves with our excellent customer service and since the lenders compensate Centum Bank Street Mortgage professionals, we offer our services free of charge to our clients, in most cases.


Furthermore, you can trust that you’re in good hands with knowledgeable people that have been working in the Ottawa mortgage industry for several years that not only know, but also understand the Ottawa commercial market thoroughly. To sum things up, you’re not only getting the best rates for your needs with no obligations attached, but also confident mortgage brokers who know the real estate system, the Ottawa market and have all the extensive knowledge required to present proposals for financing lenders to successfully obtain mortgage financing; not to mention, we do all the paperwork. We pride ourselves with our excellent customer service and since the lenders compensate Centum Bank Street Mortgage professionals, we offer our services free of charge to our clients, in most cases.

​Our office has over 25 years of commercial mortgage experience so that you can rest easy knowing you’re in the right hands. We listen to you and understand your individual needs in order to get you the best mortgage loan in Ottawa. Indulge in the experience with Centum Bank Street Mortgage in order to make your life a little easier. After all, who doesn’t enjoy a little stress off their shoulders?

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Types Of Mortgages

Second Mortgages

man and woman sitting together, holding a small house in their hands

Ottawa Second Mortgages

We all know what it’s like to experience some hard times in life, especially when it comes to paying off your mortgage.​

At Centum Bank Street Mortgage, we understand that sometimes people do need a little extra help. Life is unpredictable and we’re here to help you with the obstacles that come in the way of you and your dream home. We provide second mortgage loans to our Ottawa clients in need to make life just a little bit easier.​

A second mortgage loan is basically just another mortgage taken out on an already mortgaged property. These types of mortgages are generally good for paying off CRA, property tax arrears and even mortgage arrears in order to bring your payments up to date to avoid any legal actions.

Obtaining a second mortgage loan in Ottawa varies from institutions like banks and trust companies to private lenders. This means that your second mortgage rate also varies and will be different depending on the individual, credit, and loan to value ratio. There are plenty of options available for those seeking to invest in a second mortgage loan. Don’t hesitate; no matter where you live in Ottawa, we’re happy to help. There’s also a lot of information one should know before making any decisions. For example, there are private second mortgages which usually are interest only and normally have higher rates versus institutional and bank second mortgages which are amortized and tend to have lower rates. These types of mortgages are usually short terms of 1 year and can be renewed very easily based on repayment history of the client. Penalties vary for second mortgage loans since some are open and others have 2-month interest penalties.

​Second mortgage loans are essentially for refinancing, temporary loans, or to help people purchase their first home. Whatever the case, we’re here to help you at Centum Bank Street Mortgage. We can discuss the basis of your second mortgage and what would be the best method of approach to obtain one in Ottawa without falling further in debt. We’ll help you sort out your troubles, and at the same time, get you back on track to obtaining and keeping your home.

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Types Of Mortgages

Residential Home Mortgages

Glass jar of coins with a tiny house on a table, two hands nearby

Residential Mortgages Ottawa

The words mortgage and loan have always been a bit scary to some people. So much so, that it takes away from the joy of actually purchasing a home. The good news is there’s nothing intimidating here at Centum Bank Street Mortgage in Ottawa. Our mortgage brokers make it their priority to put you in great hands and keep you there. You will easily walk away without ever having to fear the words mortgage or loan again; you can trust us.

​Instead of all the negative feelings associated with residential mortgage loans, we take the strain off you so that you can go back to actually enjoying the idea of buying a home. We work together here in Ottawa to give you a mortgage loan that not only allows you to buy the house of your dreams, but also turns that house into your home. The stress and pressure of everyday life is enough without you having to worry about your mortgage. Take it easy, we’ll take care of you here at Centum Bank Street Mortgage so well; we guarantee it will be one of the more enjoyable tasks in your day. Help us help you get back to being happy.

If you’re looking to purchase your first primary residential property in Ottawa, we can help you. Buying a home is not like buying an investment property and requires a different kind of attention that Centum Bank Street Mortgage can supply you with.

When refinancing your primary residential property, CMHC and Genworth have certain guidelines in which we have to abide by. Thankfully, we have other companies that allow us to do things a little differently to help accommodate you better.

​If you are an existing homebuyer in Ottawa, Canada looking to purchase a new primary residence, we have programs in place to help you or we can keep your current primary residence as a rental property, which will allow us to purchase the next property at 5% down.

Let’s talk about the options we provide you with for a minute. First of all, you can choose to go with a fixed mortgage loan, which essentially means that the interest rate is determined from the beginning and remains the same throughout the payment of your mortgage. This option supplies you with the security of knowing what your monthly payments will be for the remainder of your loan payment.

Another mortgage option you have is a variable mortgage loan. This option provides flexibility on a periodic basis on the interest rate of your loan while keeping the amount of your monthly payments the same. Your initial monthly payment will generally be lower than that of a fixed mortgage loan, however, your rate may increase or decrease towards the principle amount of your mortgage payment depending on the interest rate in Ottawa.

Our next option for your residential mortgage loan is our open mortgage. This allows you to pay a part of your mortgage or the full sum of the principle at any time without any penalties, making it an ideal option for those who want that little bit extra flexibility.

Contrary to an open mortgage, we also offer closed mortgage loans. Closed mortgages consist of a fixed payment option so that you know what your monthly payments will be and for how long.

​We also give our clients the option of convertible mortgage loans. This allows our clients the freedom to switch from a variable mortgage to a fixed mortgage in accordance to their specific needs. This option essentially gives you the best of both worlds with regards to financing your mortgage to better suit you.

​We understand that this is a lot of information to take in and that buying a home altogether is a stressful task. That’s why here at Centum Bank Street Mortgage we make it a priority to give you honest, truthful advice that you can rely on. As mortgage brokers in Ottawa, we’re here to provide you with the best residential mortgage rates for your needs. We have many different options that allow us to place you in a position you’re comfortable in without adding financial strain to your wallet. Whether you have good credit, bad credit or unstable income, we’ll be able to find the amortization and term best suited for you.

​Visit us here at Centum Bank Street Mortgage for your Ottawa residential mortgage loan and let us make sure you leave here happy and stay happy.

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