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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

Fabio Capobianco Real Estate Limited

Licence #: 11653
Contact Information: 866 Brown's Line Toronto ON M8W3W2
Telephone: 416-252-7266
Status: Licensed

Fichi Financial Inc. operating as Mortgage Alliance Fichi

Licence #: 12939
Principal Broker: MAILEWA, KAVINDA
Contact Information: 2005 Sheppard Avenue East, Suite 200 Toronto ON M2J5B4
Telephone: 647-933-6548
Status: Licensed

Fiera Properties Debt Strategies Ltd. operating as Fiera Properties

Licence #: 12933
Principal Broker: ROWLAND, SCOTT
Contact Information: 1 Adelaide Street East, Suite 2410 Toronto ON M5C2V9
Telephone: 416-640-4963
Status: Licensed

Fimax Mortgage Corporation

Licence #: 10388
Principal Broker: KIM, DONGWOOK
Contact Information: 340 Sheppard Ave E, Suite 201 Toronto ON M2N3B4
Telephone: 416-227-1606
Status: Licensed

Finevo Lending Group Ltd. operating as Dominion Lending Centres Finevo Lending Group

Licence #: 12193
Principal Broker: CABEL, CHRISTOPHER
Contact Information: 2005 Sheppard Avenue East, Suite 700 Toronto ON M2J5B4
Telephone: 403-255-5750
Status: Licensed

Finrok Mortgage Group Corp. operating as Mortgage Alliance Finrok Mortgage

Licence #: 12553
Principal Broker: Not Applicable
Contact Information: 147 Bentworth Avenue, Unit A Toronto ON M6A1P6
Telephone: 416-566-5902
Status: Revoked
Effective Date: June 28, 2021

Firm Capital Corporation

Licence #: 10164
Principal Broker: DADOUCH, ELI
Contact Information: 163 Cartwright Avenue Toronto ON M6A1V5
Telephone: 416-635-0221
Status: Licensed

First National Financial LP

Licence #: 10514
Principal Broker: SMITH, STEPHEN
Contact Information: 100 University Avenue, North Tower, Suite 700 Toronto ON M5J1V6
Telephone: 416-593-1100
Status: Licensed

First Source Mortgage Corporation

Licence #: 10434
Principal Broker: MANDEL, DAVID
Contact Information: 1 Valleybrook Drive, Suite 100 Toronto ON M3B2S7
Telephone: 416-221-2238
Status: Licensed

First Swiss Mortgage Corp. operating as First Swiss Asset Management

Licence #: 10550
Principal Broker: NEZAMI-NIA, REZA
Contact Information: 5775 Yonge Street, Suite 525 Toronto ON M2M4J1
Telephone: 416-227-2000
Status: Licensed


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