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

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Networth Corporation operating as Networth Mortgage Centre

Licence #: 11913
Principal Broker: Not Applicable
Contact Information: 3252 Lawrence Avenue East, Unit #1 Toronto ON M1H1A4
Telephone: 416-431-6662
Status: Surrendered
Effective Date: October 13, 2021

New Haven Mortgage Corporation operating as N.H.M.

Licence #: 10588
Principal Broker: VYNER, ANDREA
Contact Information: 1220 Sheppard Avenue East, Suite 206 Toronto ON M2K2S5
Telephone: 416-636-0000
Status: Licensed

Noam Capital Inc.

Licence #: 10940
Principal Broker: GROPPER, BERNARD
Contact Information: 261 Davenport Road, Suite 300 Toronto ON M5R1K3
Telephone: 416962300
Status: Licensed

North Creek Financial Services Inc.

Licence #: 11613
Principal Broker: TISSER, TATIANA
Contact Information: 1000 Finch Avenue West, Unit 507 Toronto ON M3J2V5
Telephone: 800-566-0829
Status: Licensed

Northern Citadel Bancorp Inc.

Licence #: 11757
Principal Broker: MALLINOS, JOHN
Contact Information: First Canadian Place, 100 King Street West, Suite 5700 Toronto ON M5X1C7
Telephone: 416-864-1200
Status: Licensed

Northview Financial Services Inc.

Licence #: 10657
Principal Broker: MCWILLIAMS, MICHAEL
Contact Information: 280 Sheppard Avenue East, Suite 210 Toronto ON M2N1B1
Telephone: 416-226-1505
Status: Licensed

Northwood Mortgage Ltd.

Licence #: 10349
Principal Broker: ART APPLEBERG
Contact Information: 7676 Woodbine Ave Suite 300, Markham, ON L3R 2N2
Telephone: 416-969-8130
Status: Licensed

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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).

We All Need a Mortgage

Everyone who is looking to purchase a home will need a mortgage. But, what is a mortgage exactly and why do you need it? Besides being the term to describe a loan secured by real estate, a mortgage allows you to access funding to procure your dream home.