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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

Lender Direct Capital Corporation

Licence #: 10138
Principal Broker: LEWIS, RICHARD
Contact Information: 162 Cumberland Street, Suite 300 Toronto ON M5R3N5
Telephone: 416-928-4869
Status: Licensed

Lenders For Growth Ltd.

Licence #: 12368
Principal Broker: HIGHCLASS, HANNIF
Contact Information: 6983 Yonge Street Toronto ON M2M3X9
Telephone: 416-225-0004
Status: Licensed

Letterstone Capital Corporations

Licence #: 11822
Contact Information: 161 Bay Street, Brookfield Place, Canada Trust Tower, Suite 2700 Toronto ON M
Telephone: 416-365-2787
Status: licensed

Livin’ Links Financial Mortgages Inc. operating as LLF Mortgages

Licence #: 12851
Principal Broker: SHAH, SHAMIKH
Contact Information: 3660 Midland Avenue, Suite 300 Toronto ON M1V5L6
Telephone: 416-824-9317
Status: Licensed

M-Link Mortgage Corporation operating as TDMP.Com

Licence #: 11217
Principal Broker: AITKEN, KIMBERLEY
Contact Information: First Canadian Place, 100 king St. West, Suite 5700 Toronto ON M5X1C7
Telephone: 416-849-1322
Status: Licensed

M.D. Financial Corporation

Licence #: 10714
Principal Broker: MAYER, BERNIE
Contact Information: 3089 Bathurst Street, Suite 312 Toronto ON M6A2A4
Telephone: 416-782-1136
Status: Licensed

Maitland-Carter Real Estate Inc.

Licence #: 10913
Principal Broker: Not Applicable
Contact Information: 195 Fairbank Avenue Toronto ON M6B3V2
Telephone: 416-893-7780
Status: Surrendered
Effective Date: October 25, 2021

Management Professionals Realty Limited

Licence #: 11840
Principal Broker: VAN WILLEGEN, DANIEL
Contact Information: 25 Whaley Drive Toronto ON M8W2N2
Telephone: 416-657-2117
Status: Licensed

Manhattan Mortgage Services Inc.

Licence #: 11291
Principal Broker: LECKY, MICHELLE
Contact Information: 200 Consumers Road, Suite 700 Toronto ON M2J4R4
Telephone: 416-642-5685
Status: Licensed

Marathon Mortgage Corp.

Licence #: 12188
Principal Broker: KENNEDY, HAROLD
Contact Information: 40 University Avenue, Suite 507 Toronto ON M5J1T1
Telephone: 416-202-6588
Status: Licensed


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