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

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Genesis Mortgage Capital Inc.

Licence #: 10146
Principal Broker: MINTZ, STEVEN
Contact Information: 147 Bentworth Avenue, Suite A Toronto ON M5A1P6
Telephone: 416-398-6191
Status: Licensed

Gentai Capital Corporation

Licence #: 12804
Principal Broker: MU, HONGYU
Contact Information: 66 Wellington Street West, Suite 5300 Toronto ON M5K1E6
Telephone: 604-638-1580
Status: Licensed

Get A Better Mortgage Inc. operating as Get A Better Mortgage Mortgage Centre Canada

Licence #: 10874
Principal Broker: TAMBURRO, MARK
Contact Information: 642 The Queensway Toronto ON M8Y1K5
Telephone: 416-252-9000
Status: Licensed

Glencairn Capital Corp.

Licence #: 10012
Principal Broker: EPSTEIN, RICHARD
Contact Information: 418 Glencairn Avenue Toronto ON M5N1V5
Telephone: 416-865-3437
Status: Licensed

Glenn Richard Solomon

Licence #: 11684
Principal Broker: SOLOMON, GLENN
Contact Information: 20 Toronto Street, Suite 410 Toronto ON M5C2B8
Telephone: 416-366-7828
Status: Licensed

Goldentrust Mortgage Inc.

Licence #: 12987
Principal Broker: CHAN, JODI
Contact Information: 200 Consumers Road, Unit 409 Toronto ON M2J4R4
Telephone: 416-498-7888
Status: Licensed

GreenFlow Financial Corp. operating as GreenFlow Financial

Licence #: 12402
Principal Broker: HAJIGHAZI, MOHAMMED REZA
Contact Information: 330 Bay St. Suite 1400 Toronto ON M5H2S8
Telephone: 800-712-8520
Status: Licensed

Greengate Capital Corp.

Licence #: 12215
Principal Broker: SHINOBU, DOUGLAS
Contact Information: 170 The Donway West, Suite 415 Toronto ON M3C2G3
Telephone: 416-456-9527
Status: Licensed

Greenwood Estates and Mortgage Corp. operating as Greenwood Mortgage

Licence #: 12522
Principal Broker: CLAY, ELIZABETH
Contact Information: 2958 St Clair Avenue West Toronto ON M9A1A4
Telephone: 416-439-1176
Status: Surrendered
Effective Date: April 1, 2022

GTA Financing Solutions Inc. operating as Mortgage Alliance GTA Financing Solutions

Licence #: 12985
Principal Broker: AINABE, BRIGHT
Contact Information: 2275 Lakeshore Blvd West, Unit 323 Toronto ON M8V3Y3
Telephone: 416-900-5567
Status: Licensed

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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).

We All Need a Mortgage

Everyone who is looking to purchase a home will need a mortgage. But, what is a mortgage exactly and why do you need it? Besides being the term to describe a loan secured by real estate, a mortgage allows you to access funding to procure your dream home.