A mortgage agent or broker arranges your mortgage with a lender on your behalf. In Ontario that work is regulated, so the first step is to confirm the person you are speaking with is licensed.

Check the licence before you share documents

Mortgage professionals in Ontario are licensed by FSRA, the Financial Services Regulatory Authority of Ontario. Licence levels include Mortgage Agent (Level 1 and Level 2), Mortgage Broker and Principal Broker. Ask for the person's licence number and look it up on FSRA's public licence search at fsrao.ca.

Ask which lenders they can work with

A broker can submit your file to more than one lender, which matters when your situation does not fit a bank's standard rules (self-employed income, a recent move, a smaller down payment). Ask which lender types they work with: banks, credit unions, alternative (B) lenders and private lenders.

Ask how they are paid

Brokers are usually paid by the lender once a mortgage funds, and some situations involve a fee charged to you. Ask for any fee in writing before you sign, and ask what happens if the mortgage does not go ahead.

Match the specialty to your situation

Each profile above lists the person's specialties, languages and experience. First-time buyers, renewals, refinancing, self-employed borrowers and private-lending files each have their own details, so choose someone who works on files like yours.

lendsimpl is an FSRA-licensed brokerage, #13763. Licence levels and titles are shown as recorded on each agent's profile.

Find Your Mortgage Agent

4 Licensed Agents

How to choose a mortgage agent or broker in Ontario

Check the licence before you share documents

Ask which lenders they can work with

Ask how they are paid

Match the specialty to your situation

Find Your
Mortgage Agent