Mortgage Blog

Types of Mortgages

January 1, 2015 | Posted by: Calum Ross

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.

• Pre-Approved Mortgage
• Conventional Mortgage
• High-Ratio Mortgage (CMHC– Genworth– Canada Guaranty) Insured
• First Mortgages
• Open Mortgages
• Closed Mortgages
• Fixed-Term Mortgages
• The Adjustable Rate Mortgage (A.R.M.)
• Secured Lines of Credit
• Equity Mortgages
• Collateral Charge or Re-Advanceable Mortgages (Multiple Term Mortgages)
• The 6 Month Convertible Mortgage
• Bridge Financing

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