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Why Choose a LIcensed Mortgage Broker?

Why Choose a Broker

For many Canadians, the purchase of a home is likely the biggest financial investment decision they will make in their lifetime. To help realize the dream of homeownership, you'll want to work with a professional mortgage broker who will offer sound, professional advice and provide a mortgage solution that matches your needs and circumstances.

It is the job of a professional mortgage broker to stay ahead of the game, learning about the array of products available that best suit their clients’ needs. Generally, the broker is paid a referral fee by the lender, not by their client. Lending institutions will usually provide their best interest rates to the broker ensuring that, as the homebuyer, you don’t have to negotiate to get the best rate.

By assessing your needs, a broker will carefully weigh important decisions, such as lump sum payments and fixed versus variable rates, before they are made. A broker will also guide you through the process of completing and submitting mortgage applications and supporting documentation required by the lender. If the terminology seems a little confusing, your broker is there to explain important information and conditions set out by the lender as well as any steps required to close the mortgage transaction.

A few things to note about mortgage brokers:

  • Mortgage brokers are professionals and many are licensed by the province within which they work. They must maintain a high level of professionalism and keep up with all of the offerings and developments within the industry.
  • Mortgage brokers should have an established place of business. They have chosen mortgage brokerage as their career and demonstrate their long-term commitment to the industry. In this regard, they are no different than insurance brokers.
  • In order to best meet a consumer’s needs, mortgage brokers have a wide array of products from which to choose – mortgage banks, private sources, independent lenders, etc. And, a lender will deal with a broker only after a thorough selection process, checking references, interviewing and obtaining a copy of their broker licence.
  • In addition to the above points, and for obvious reasons, be sure that you have a good interpersonal rapport with the broker you choose. It’s all about trust, credibility and ultimately the relationship.

In short, consumers choose a mortgage broker for four reasons: choice, advice, service and savings. By considering these factors, you’ll be able to make an informed decision, comfortably.

Source: http://mbsweblist.fsco.gov.on.ca/

Here is a list of Licensed Mortgage Brokers in Ontario as of February 15th, 2018

C & K Mortgage Services Inc. operating as Rescom Capital

Licence #: 10822
Principal Broker: GRUNEIR, GARY
Contact Information: 1670 Bayview Avenue, Suite 400 Toronto ON M4G3C2
Telephone: 416-485-2058
Status: Licensed

Cameron Stephens Mortgage Capital Ltd.

Licence #: 10769
Principal Broker: CAMERON, STEPHEN
Contact Information: 25 Adelaide Street East, Suite 600 Toronto ON M5C3A1
Telephone: 416-591-8787
Status: Licensed

Canada Call Centre Corporation

Licence #: 10929
Principal Broker: HOZJAN, IGNAC
Contact Information: 1926 Gerrard Street East Toronto ON M4L2C1
Telephone: 416-533-5221
Status: Licensed

Canada Group Realty Corporation

Licence #: 11658
Principal Broker: ALVES, MANUEL
Contact Information: 860 College St Toronto ON M6H1A2
Telephone: 416-532-5400
Status: Licensed

Canada ICI Capital Corporation

Licence #: 12525
Principal Broker: KLEIN, ALLAN
Contact Information: 1202-390 Bay St Toronto ON M5H2Y2
Telephone: 780-990-1144
Status: Licensed

Canadian Lending Network Inc.. operating as CLN Mortgages

Licence #: 11056
Principal Broker: BABBER, RAJAN
Contact Information: 31 Scarsdale Road, Unit 6 Toronto ON M3B2R2
Telephone: 416-494-3300
Status: Licensed

Canadian Mortgage Capital Corporation

Licence #: 10284
Principal Broker: GOODALL, ROBERT
Contact Information: 900 - 20 Adelaide Street East Toronto ON M5C2T6
Telephone: 416-867-1053
Status: Licensed

Canadiana Financial Corporation

Licence #: 12012
Contact Information: 56 Temperance Street, Suite 400 Toronto ON M5H3V5
Telephone: 877-672-7219
Status: Surrendered
Effective Date: October 4, 2021

Canfin Mortgage and Equity Inc. operating as Canfin FinancialGroup

Licence #: 11949
Principal Broker: CARDUCCI, ROBERT
Contact Information: 680 Rexdale Blvd., Suite 205 Toronto ON M9W0B5
Telephone: 905-829-0020
Status: Licensed

Cannect Mortgage Investment Corporation

Licence #: 12156
Principal Broker: TZAFERIS, MARCUS
Contact Information: 1006 King Street West Toronto ON M6K3N2
Telephone: 416-214-9000
Status: Licensed


Canada’s mortgage website

Your home is your most valuable asset. It is probably the single largest investment you will make in your lifetime. Your home is more than a place to rest your head and raise a family. Your home contains equity. It is a treasured resource and in some cases, can even be used as an ATM (aka cash back mortgages and HELOCs – don’t worry we’ll get there).

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