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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

E Realty Services Limited

Licence #: 11235
Principal Broker: ETKIN, BRETT
Contact Information: 10 Bellair Street, Suite 510 Toronto ON M5R3T8
Telephone: 416-920-2000
Status: Licensed

Edge Financial Services Corporation operating as Dominion Lending Centres Edge Financial

Licence #: 10710
Contact Information: 8 Sampson Mews, Suite 201 Toronto ON M3C0H5
Telephone: 416-445-4101
Status: Licensed

Educators Financial Group Inc.

Licence #: 12185
Principal Broker: DI FRANCO, GUIDO
Contact Information: 2225 Sheppard Avenue East, Suite 1105 Toronto ON M2J5C2
Telephone: 416-752-6843
Status: Licensed

Elare Financial Services Limited operating as Mortgages Unlimited

Licence #: 10709
Principal Broker: RACHLIN, LAWRENCE
Contact Information: 5987 Bathurst Street, Suite 107, Upper Level Toronto ON M2R1Z3
Telephone: 416-224-2299
Status: Licensed

Elias Financial Corp. operating as Verico - Elias Financial

Licence #: 11968
Principal Broker: ELIAS, BILL
Contact Information: 3011 Markham Road, Unit #3 Toronto ON M1X1L7
Telephone: 416-292-1699
Status: Licensed

Enrich Mortgage Group Ltd. operating as Mortgage Alliance - Enrich Mortgage Group

Licence #: 12487
Principal Broker: ANDERSON, RICHARD
Contact Information: 2005 Sheppard Avenue East, Suite 200 Toronto ON M2J5B4
Telephone: 403-243-6443
Status: Licensed

Entera Mortgages Corp.

Licence #: 12549
Contact Information: 1110 Finch Avenue West, Suite 408 Toronto ON M3J2T2
Telephone: 416-628-0743
Status: Licensed

Epic Alasco Mortgage Services Inc.

Licence #: 12868
Principal Broker: DINNEEN, PATRICK
Contact Information: 141 Adelaide Street West, Suite 1201 Toronto ON M5H3L5
Telephone: 780-424-0075
Status: Licensed

Epireon Mortgage Capital Corporation

Licence #: 10130
Principal Broker: BARRETT, CHARLES
Contact Information: 21 St. Clair Ave. E, Suite 401 Toronto ON M4T1L9
Telephone: 416-362-1982
Status: Licensed

Ermanno Raffaele Tasciotti operating as GGR Mortgages

Licence #: 12863
Principal Broker: Not Applicable
Contact Information: 14 Milton Road Toronto ON M4J4V2
Telephone: 416-519-3620
Status: Surrendered
Effective Date: December 5, 2021


Canada’s mortgage website

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