The Mortgage Centre

The Mortgage Centre

  • About
  • Rates
  • Services
      • Mortgages
      • Renewals
      • Refinancing
      • Debt consolidation
      • Specialized financing
          • Bankruptcy
          • Separation/Divorce
  • Resources
      • Mortgage calculators
      • First-time home buyer
      • Financing renovations
      • Useful links
      • Terms to know
  • Our team
  • Careers
  • Locations

Helping you make confident

financing decisions.

We work for you,

not the lenders.

Find a professional now!

Need financing?

Let us make it easier.

Apply online now!

  • Mortgage calculators

  • Find a professional

  • Our locations

We'll find you the best rates

Great service and mortgage rates for Greater Durham & surrounding areas.
3 Year Fixed 5.34%
5 Year Fixed 4.69%
Variable 5.90%
Look here for more rates

On approved credit (OAC). Rates subject to change without notice.

  • Mortgage types
  • Rate types
  • First time home buyer
  • Debt consolidation
  • Mortgage renewal
  • Useful links

Mortgage types

We can help you choose the mortgage type that suits you best. A few of the most common:

Conventional

These mortgages can have fixed rates, or variable rates (which adjust with Bank of Canada Prime interest rates). To qualify for a conventional mortgage, you must have at least 20% of the purchase price of the home as your down payment.

High-ratio

If you have less than 20% of the total purchase price as a down-payment, you need a high-ratio mortgage. These mortgages must also be insured.

Open

You can repay part or all of this mortgage any time without any prepayment fees.

Closed

A closed mortgage usually has a lower rate than an open mortgage. You can pre-pay up to 20% of the original mortgage amount. But there are costs to pay out early, renegotiate or refinance before the end of the mortgage term.

Find out about more types of mortgages or give us a call to inquire about the best mortgage to suit your needs.

Rate types

When it comes to rates, the percentage makes a difference to how much you pay, but so does the type of rate.

Let us help get the best rate and type of rate for you.

What’s a mortgage rate?

The percentage interest that you pay on top of the loan principal. For example, you may take out a mortgage of $100,000 at a rate of 12%. Your monthly payments will consist of a portion of the original $100,000, plus 12% interest.

Fixed rate

An interest rate that does not change during the entire mortgage term.

Variable rate

An interest rate that will fluctuate in accordance with the prevailing market prime rate during the mortgage term. There may be lender discounts with this type of rate.

See current rate information or give us a call to speak to us about rates .

First time home buyer

Buying your first home is exciting – but can be stressful, too. We can make it easier as we explain your options, help you understand how much you can afford, and lead you through securing your first mortgage.

Start with this fact sheet, or contact us to ask questions.

Debt consolidation

Have you thought of using your mortgage as a tool to help you get on top of debts? With a lower rate than credit card debt, lines of credit and car loans, we can help you use your mortgage to manage debt.

Start with this fact sheet , or contact us to ask how it works.

Mortgage renewal

Mortgage renewal can take a lot of your time. But shopping around for the best mortgage rates for you is worth it.

Durham Mortgage Centre agents can take care of the hard work so you can renew your mortgage easily and conveniently.

Useful links

We’re mortgage experts, but we draw on the knowledge of other experts in the field too. Here are just a few experts you may want to get to know.

Check out our growing collection of useful links.

  Apply Online Now

Applying for a mortgage is easy!

Search through our list of agents to find your perfect partner.

The Mortgage Centre

The Mortgage Centre-Durham has been helping Ontarians make great financing decisions since 1992. As the largest mortgage brokerage in Durham Region, we’ve helped thousands of homeowners find the right financing at the right rates.

Ajax/Pickering

  • 67 Old Kingston Road
    Ajax, ON L1T 3A5
  • 905-426-4200
  • 905-426-4201
  • ajax@durhammortgage.com

Clarington

  • 2727 Courtice Rd
    Courtice, ON L1E 3A2
  • 905-436-8010
  • 905-436-8012
  • courtice@durhammortgage.com

Cobourg

  • 609 William Street Unit 1B
    Cobourg, ON K9A 3A5
  • 905-377-1684
  • 855-425-8519
  • cobourg@durhammortgage.com

Port Perry

  • 250 Queen Street 2nd Floor
    Port Perry, ON L9L 1B9
  • 289-200-9061
  • portperry@durhammortgage.com
© 2023 Durhammortgage.com Ltd. Registration #10231 Each office is independently owned and operated by Durhammortgage.com Ltd. Privacy Policy Website by ReVue Design