Frequently Asked Questions

Can I get a mortgage with my bad credit?
YES! We can get your mortgage application approved based on your home equity, in spite of your bad credit.
How soon can you get my mortgage application approved?
Once you submit your application, our expert Underwriting Department will review it the same day. Depending on how accurately you complete your application, it will be approved within 4 to 12 hours.
Do I have to pay to submit a mortgage application?
Not at all! You do not incur any charges of any sort for our services. Once our Underwriting Department reviews your application and obtains a preliminary approval, you will be informed of any upfront costs (like appraisal fees payable to the Appraiser).
Does Mortgages Central Nationwide help applicants who were rejected by banks in the past for reasons such as low income, bad credit, length of time on the job, past bankruptcy, being a new resident, divorced, on commission, self employed or any other reasons?
Yes, indeed! This is our specialty. We have helped secure mortgage funds for several home buyers and existing home owners who wanted a mortgage solely on their home’s equity.
Does my bankruptcy affect my chances of getting approved?
If you already own a property and have equity, we can assist you in getting a refinance, even if you do not have discharge from bankruptcy. If you’re looking to purchase a property, we can help you secure a mortgage, provided you have been discharged from bankruptcy.

How to determine if I qualify?
There are several ways to qualify for a mortgage loan. Some mortgages are dependent on your home’s equity, with no other qualifications necessary. We also have mortgage solutions that are based on your income and credit score. Every mortgage application is unique and is approved based on your specific qualifications and requirements. We are experts in ascertaining the best way to process your application and get you the best possible rates for your mortgage.
What are the terms of mortgage?
Mortgages are offered in a variety of terms from six months to 10 years, with either a variable or fixed rate of interest. The payments can be amortized for up to 40 years.
What does CMHC mean?
CMHC is the acronym for Canada Mortgage and Housing Corporation, a federal institution. It assesses the property and client to ensure that the borrower can purchase a home with lower down payment terms. This institution will insure the mortgage on the bank’s behalf, by way of a premium that’s added to your mortgage. This way, the banks are obliged to offer mortgages to those who have less than 20% down payment.
Who should I contact for more information?
Should you have any questions or need assistance with completing your online application, reach us at 905-889-5363, 9 am to 10 pm, 7 days a week. One of our dedicated professionals will be happy to assist you.