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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

7022611 Canada Limited operating as GTA Mortgage Funding

Licence #: 11940
Principal Broker: NAUMCHUK, PETER
Contact Information: 3000 Weston Road Toronto ON M9M2S7
Telephone: 416-253-1618
Status: Licensed

7261403 Canada Incorporated operating as First Financial

Licence #: 12085
Principal Broker: HAN, SUZIE
Contact Information: 143 Willowdale Avenue, Suite 102 Toronto ON M2N4Y5
Telephone: 647-351-0114
Status: Licensed

7326904 Canada Inc. operating as Mortgage Alliance Commercial

Licence #: 12020
Principal Broker: DURAND, MICHEL
Contact Information: 2005 Sheppard Avenue East, Suite 200 Toronto ON M2J5B4
Telephone: 416-499-5454
Status: Licensed

7344155 Canada Inc. operating as Meridian Broker Network

Licence #: 11989
Principal Broker: MACLENNAN, LAURA
Contact Information: 2005 Sheppard Avenue East, Suite 200 Toronto ON M2J5B4
Telephone: 416-723-7970
Status: Licensed

774850 Ontario Ltd. operating as Lazer Financial Services

Licence #: 10178
Principal Broker: BALLA, LESLIE
Contact Information: 163 Queens Dr. Toronto ON M9N2H5
Telephone: 416-234-1613
Status: Surrendered
Effective Date: March 13, 2022

8401560 Canada Inc. operating as Amin Mortgage Solutions

Licence #: 12920
Principal Broker: MIAH, MOHAMMED
Contact Information: 3092 Danforth Avenue, Unit 205 Toronto ON M1L1B1
Telephone: 416-686-1330
Status: Licensed

9141065 Canada Inc. operating as Mortgages of Canada

Licence #: 12811
Principal Broker: BROOKES, SAMANTHA
Contact Information: 4030 Sheppard Avenue East, Lower Level Toronto ON M1S1S6
Telephone: 647-995-3918
Status: Licensed

958985 Ontario Inc. operating as Mortgage Hot-Line

Licence #: 10386
Principal Broker: TURINO, JOHN
Contact Information: 782 Broadview Ave. Toronto ON M4K2P7
Telephone: 416-267-7888
Status: Licensed

Abacus Mortgages Inc.

Licence #: 10196
Principal Broker: BLAU, FRANCES
Contact Information: 4699 Keele Street, Suite 218 Toronto ON M3J2N8
Telephone: 416-638-6200
Status: Licensed

ACM Advisors Ltd.

Licence #: 12182
Principal Broker: MALLOW, CHADWICK
Contact Information: 80 Richmond Street West, Suite 804 Toronto ON M5H2A4
Telephone: 416-860-6242
Status: Licensed


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