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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

R B Mortgages Inc.

Licence #: 12492
Principal Broker: BASTEDO, ROBIN
Contact Information: 142 Woburn Avenue Toronto ON M5M1K7
Telephone: 416-457-5040
Status: Licensed

Radius Financial Inc/Financier Radius Inc.

Licence #: 12265
Principal Broker: DAVIS, JENNA
Contact Information: 150 King Street, Suite 2512, P.O. Box 40 Toronto ON M5H1J9
Telephone: 416-705-5557
Status: Licensed

Ratehub Inc. operating as Canwise Financial

Licence #: 12530
Principal Broker: LAIRD, JAMES
Contact Information: 70 Richmond Street East, 4th Floor Toronto ON M5C1N8
Telephone: 416-303-1060
Status: Licensed

RBG Realty Mortgage Brokerage Group Inc. operating as Verico RBG Mortgage Professionals

Licence #: 10647
Principal Broker: GOLDMINTZ, ROSLYN
Contact Information: 589 Eglinton Avenue East, 2nd Floor Toronto ON M4P1P8
Telephone: 416-967-0755
Status: Licensed

Real Equity Mortgages Inc.

Licence #: 11506
Principal Broker: VIDAL, JEREMY
Contact Information: 529 Glengrove Ave. W. Toronto ON M6B2H3
Telephone: 416-787-7325
Status: Licensed

RealCap Realty Capital Financial Corp. operating as RealCap Financial

Licence #: 12075
Principal Broker: NEVAR, DAVID
Contact Information: 120 Adelaide Street West, Suite 2500 Toronto ON M5H1T1
Telephone: 416-400-4999
Status: Licensed

Realty Life Ltd.

Licence #: 11004
Principal Broker: DONATO, JOSEPH
Contact Information: 2807A Lakeshore Blvd. W. Toronto ON M8V1H6
Telephone: 416-251-4000
Status: Licensed

Redpath Financial Inc. operating as Dominion Lending Centres Redpath Financial

Licence #: 10964
Contact Information: 120 Eglinton Avenue East, Suite 607 Toronto ON M4P1E2
Telephone: 416-366-7284
Status: Licensed

Reliance Financial Solutions Inc.

Licence #: 10701
Principal Broker: CHATTHA, RASHID
Contact Information: 40 Wynford Drive, Suite 106 Toronto ON M3C1J5
Telephone: 416-446-0000
Status: Licensed

Return On Innovation Advisors Ltd. operating as ROI Capital

Licence #: 12436
Principal Broker: Not Applicable
Contact Information: 43 Front Street East, Suite 301 Toronto ON M5E1B3
Telephone: 416-361-6162
Status: Surrendered
Effective Date: April 6, 2022


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