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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

BLM Canada Corporation

Licence #: 12332
Principal Broker: BOPARAI, NAVDEEP
Contact Information: TELSEC Business Centre, 1801-1 Yonge st Toronto ON M5E1W7
Telephone: 905-670-2801
Status: Licensed

Blue Chip Mortgage Corporation

Licence #: 11966
Principal Broker: SIMON, MOISHE
Contact Information: 345 Wilson Avenue, Suite 201 Toronto ON M3H5W1
Telephone: 416-910-4693
Status: Licensed

Blue Pearl Mortgage Group Inc.

Licence #: 12890
Principal Broker: PRAKASH, NITESH
Contact Information: 150 York Street, Suite 800 Toronto ON M5H3S5
Telephone: 604-372-2764
Status: Licensed

Blurock Capital Corporation

Licence #: 11172
Principal Broker: KULYK, ROMAN
Contact Information: 2285 Bloor St. West, #200 Toronto ON M6S1P1
Telephone: 416-826-8000
Status: Licensed

BMO Capital Markets Real Estate Inc.

Licence #: 11321
Principal Broker: SCHLEDEWITZ, KEVIN
Contact Information: 100 King Street West, 5th floor Toronto ON M5X1H3
Telephone: 416-359-4001
Status: Licensed

Brandev Realty Finance Inc.

Licence #: 12253
Principal Broker: POAPST, JAMES
Contact Information: 131 Rosewell Avenue Toronto ON M4R2H3
Telephone: 416-482-3085
Status: Licensed

Brookfield Financial Real Estate Group Limited/Groupe Financier Immobilier Brookfield Limitee operating as Brookfield Financial Real Estate Group

Licence #: 10548
Principal Broker: Not Applicable
Contact Information: 181 Bay Street, Suite 260 Toronto ON M5J2T3
Telephone: 416-956-5215
Status: Surrendered
Effective Date: June 3, 2016

Brookfield Financial Real Estate Group LP

Licence #: 12769
Principal Broker: ESLER, SARAH
Contact Information: 181 Bay Street, Suite 260 Toronto ON M5J2T3
Telephone: 416-956-5200
Status: Licensed

Butler Mortgage Inc. operating as Butler Mortgage

Licence #: 12118
Principal Broker: BUTLER, WILLIAM
Contact Information: 5397 Eglinton Avenue West, Suite 108 Toronto ON M
Telephone: 905-569-8326
Status: Licensed

Buying Block Mortgages Inc.

Licence #: 10645
Principal Broker: LITIGIO, RODNEY
Contact Information: 3087 Dundas Street West, Unit #2 Toronto ON M6P1Z9
Telephone: 416-920-5665
Status: Surrendered
Effective Date: December 23, 2016


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