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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

Darren Christopher Shamess operating as Uptown Capital

Licence #: 12379
Principal Broker: Not Applicable
Contact Information: 63 Lawrence Avenue West Toronto ON M5N1A3
Telephone: 416-803-2797
Status: Surrendered
Effective Date: February 10, 2022

Defined Mortgage Services Inc.

Licence #: 12408
Principal Broker: DORIA, ANTONIETTE
Contact Information: 78 BLAYDON AVE Toronto ON M3M2E5
Telephone: 647-201-0167
Status: Licensed

Dez Capital Corporation operating as Dez Capital

Licence #: 12763
Principal Broker: FALLAH, FARAMARZ
Contact Information: 25 Sheppard Avenue West, Suite 720 Toronto ON M2N6S6
Telephone: 416-519-9090
Status: Licensed

Dili Capital Corp. operating as Mortgage Alliance DiliCapital

Licence #: 12042
Contact Information: 1370 Don Mills Road Toronto ON M3B3N7
Telephone: 416-916-4677
Status: Licensed

Direct Mortgage Inc.

Licence #: 12302
Contact Information: 1899 Leslie Street Toronto ON M3B2M3
Telephone: 416-452-5598
Status: Licensed

Distinctive Real Estate Advisors Inc.

Licence #: 12592
Principal Broker: JOLY, VICTORIA
Contact Information: 2 St. Clair Avenue West, 18th Floor Toronto ON M4V1L5
Telephone: 416-925-3140
Status: Licensed

Do Your Own Mortgage Inc. operating as Doyourownmortgage.com

Licence #: 12831
Principal Broker: KHOURY, LIONEL
Contact Information: 3295 Dufferin Street, Suite 200 Toronto ON M6A2T4
Telephone: 647-931-3966
Status: Licensed

Dominion Lending Centres Estate Mortgages Inc.

Licence #: 11363
Principal Broker: BURTON, KEITH
Contact Information: 2301 Queen Street East Toronto ON M4E1G7
Telephone: 416-690-1502
Status: Licensed

Dominion Lending Centres Mortgage Connection Inc.

Licence #: 10390
Principal Broker: RIDEOUT, JANET
Contact Information: 5110 Dundas Street West Toronto ON M9A1C2
Telephone: 416-410-4111
Status: Licensed

Dominion Lending Centres Zilla Mortgage Corp. operating as Zilla Mortgage

Licence #: 12546
Principal Broker: MARTEL, GREGORY
Contact Information: 2 Bloor Street West, Unit 700 Toronto ON M4W3R1
Telephone: 250-477-7555
Status: Licensed


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