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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

2282072 Ontario Inc. operating as Dominion Lending Centres Expert Financial

Licence #: 12129
Principal Broker: ANDREWS, LORNE
Contact Information: 1 Shoreham Drive Toronto ON M5N3A6
Telephone: 416-276-6445
Status: Licensed

2345223 Ontario Ltd. operating as Mortgage Alliance Authorities

Licence #: 12313
Contact Information: 585 Middlefield Road, Unit 16 Toronto ON M1V4Y5
Telephone: 416-951-7152
Status: Licensed

2385760 Ontario Inc. operating as 416Mortgages

Licence #: 12674
Principal Broker: BALDEO, BRIAN
Contact Information: 3351 Markham Road, Suite 137A Toronto ON M1X0A6
Telephone: 416-889-3827
Status: Licensed

2396056 Ontario Inc. operating as Dominion Lending Centres-Your Mortgage Choice

Licence #: 12439
Principal Broker: TOTROV, SERGUEI
Contact Information: 99 Finch Avenue East Toronto ON M2N4R4
Telephone: 416-222-0533
Status: Licensed

2404034 Ontario Inc. operating as Mortgage Alliance The Guardian

Licence #: 12521
Contact Information: 80 Nashdene Road, Unit 221-222 Toronto ON M1V5E4
Telephone: 416-830-3241
Status: Licensed

2407429 Ontario Ltd. operating as Red Fern Capital Group

Licence #: 12496
Principal Broker: SINGH, NEVIN
Contact Information: 1 Yonge Street, Suite 1801 Toronto ON M5E1W7
Telephone: 647-985-9198
Status: Licensed

2487269 Ontario Limited operating as Capital Lending Centre

Licence #: 12830
Principal Broker: MARIN, KENDALL
Contact Information: 801 Yorkmills Road, Suite 300 Toronto ON M3B1X7
Telephone: 416-576-8156
Status: Licensed

2501205 Ontario Ltd. operating as Dominion Credit Capital Group

Licence #: 12941
Principal Broker: LUKAN, YAROSLAV
Contact Information: 2480 St. Clair Avenue West Toronto ON M6N1L3
Telephone: 416-274-7414
Status: Licensed

3877337 Canada Inc. operating as HLC Home Loans Canada

Licence #: 10423
Principal Broker: NAZEHI, FATIMA-ZOHRA
Contact Information: 55 Yonge Street, 7th Floor Toronto ON M5E1J4
Telephone: 866-452-1821
Status: Surrendered
Effective Date: March 13, 2022

6943004 Canada Corporation operating as Family Tree Mortgages

Licence #: 11110
Principal Broker: SINGH, PERRY
Contact Information: 1350 Brimley Road, Unit 110 Toronto ON M1P2X9
Telephone: 416-573-5250
Status: Licensed


Canada’s mortgage website

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