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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

Pangea Mortgage & Financing Solutions Inc.

Licence #: 12692
Principal Broker: Not Applicable
Contact Information: 25 Liberty Street, Suite 203 Toronto ON M6K1A6
Telephone: 416-915-4165
Status: Surrendered
Effective Date: August 2, 2021

Paradigm Quest Inc.

Licence #: 11017
Principal Broker: GREGORY, KATHY
Contact Information: 390 Bay Street, Suite 500 Toronto ON M5H2Y2
Telephone: 416-366-8606
Status: Licensed

Pegasus Mortgage & Financial Solutions Inc.

Licence #: 11479
Principal Broker: KHAN, MUHAMMAD
Contact Information: 1457 McCowan Rd Suite 202 Toronto ON M1S5K7
Telephone: 416-281-9628
Status: Licensed

Peoples Financial Corporation

Licence #: 10403
Principal Broker: BROOKER, RAYMOND
Contact Information: Brookfield Place, 181 Bay Street, Suite 3100 Toronto ON M5J2T3
Telephone: 416-687-1196
Status: Licensed

Performa Mortgage Inc. operating as Mortgage Alliance Performa Mortgage

Licence #: 12293
Principal Broker: HUNT, MARCIA
Contact Information: 885 Progress Avenue, Suite 205 Toronto ON M1H3G3
Telephone: 416-454-1498
Status: Licensed

Perry Joseph Betel

Licence #: 11050
Principal Broker: BETEL, PERRY
Contact Information: 7 Farrington Dr Toronto ON M2L2B4
Telephone: 416-315-1014
Status: Licensed

Pioneer Mortgage Inc. operating as Mortgage Alliance Pioneer Mortgages

Licence #: 12183
Principal Broker: KOYA, ASHRAF
Contact Information: 5 Shady Golfway, Suite 1219 Toronto ON M3C3A5
Telephone: 647-899-2696
Status: Licensed

Planet Mortgages Inc.

Licence #: 10204
Principal Broker: BRATKOV, NELLY
Contact Information: 100 Finch Avenue West, Suite 304 Toronto ON M3J2V5
Telephone: 416-514-0007
Status: Licensed

Pnnchh Inc.

Licence #: 12389
Principal Broker: THANSINGH, ANEAL
Contact Information: 10 Four Seasons Place, 10th Floor Toronto ON M9B6H7
Telephone: 416-939-1367
Status: Licensed

PoloLoans Inc.

Licence #: 11523
Contact Information: 28 Drewry Avenue Toronto ON M2M1C8
Telephone: 647-503-5788
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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